New UBS me Bank Packages Reviewed

From June 1, 2021, UBS is replacing its former bank packages and changing its bank package fees.

What is changing?

The existing UBS Generation, UBS Campus, UBS Young Professional and UBS Individual bank packages are being replaced by the UBS me packages. UBS me packages come in different variations for youths, students, young professionals and adult individuals.

Adult individuals and young professionals will benefit from a package fee reduction of 2 francs per month. This applies to both the Standard (digital documents) and Traditional (physical documents) versions.

However, cash withdrawals with UBS debit cards at non-UBS Swiss ATMs will no longer be free of charge, with a 2-franc fee applying to each withdrawal from non-UBS ATMs. Cash withdrawals with UBS debit cards at ATMs outside of Switzerland will continue to cost 5 francs per withdrawal. Adding an optional paid cash withdrawal module adds a limited number of complimentary cash withdrawals at out-of-network ATMs to your banking package.

How high are the annual bank package costs without any optional modules?

* With total assets at UBS in excess of CHF 10'000 or with a UBS mortgage.

How high are the annual bank package fees including the optional cash withdrawal module?

* With total assets at UBS in excess of CHF 10'000 or with a UBS mortgage.

What does the optional Cash Withdrawal Switzerland module provide?

From June 1, 2021, adult UBS customers will have the option of adding a Cash Withdrawal Switzerland module to their package for an additional 2 francs per month. Youth and student packages include this service by default at no extra fee.

The cash withdrawal Switzerland module lets you make 2 cash withdrawals at ATMs operated by banks other than UBS every month without paying additional withdrawals fees. Once the 2 included withdrawals have been made, you pay a 2-franc fee for each additional withdrawal at non-UBS ATMs in the same month.

Important: UBS account holders can make cash withdrawals at UBS ATMs without paying any cash withdrawal fees. The cash withdrawals module and cash withdrawal fees only apply to withdrawals from non-UBS Swiss ATMs.

When does adding the Cash Withdrawal Switzerland module make sense?

To put it simply, adding the optional Cash Withdrawal Switzerland module makes financial sense for adult individuals and young professionals who withdraw cash at non-UBS ATMs in Switzerland more than 12 times per year. At least that is the case when your withdrawals are spaced out over the year.

Adding the Cash Withdrawal Switzerland module can save you a maximum of 24 francs per year (if you frequently withdraw money at non-UBS ATMs in Switzerland).

Important: According to UBS, the Cash Withdrawal Switzerland module will be automatically activated for the majority of UBS customers on June 1, 2021. If you rarely or never withdraw money at non-UBS ATMs in Switzerland, make sure to deactivate the module to avoid the extra fee. This can be done immediately from June 1, 2021.

What does the Cash Withdrawals Worldwide module provide?

From June 1, 2021, UBS customers will have the option of adding the Cash Withdrawals Worldwide module to their banking package for an extra fee of 5 francs per month. This applies to student and youth packages as well.

The Cash Withdrawals Worldwide module lets you make 2 cash withdrawals per month at ATMs outside of Switzerland at no extra charge. Once the 2 included cash withdrawals are exhausted, you pay 5 francs per additional withdrawal at foreign ATMs in the same month. The module also includes 4 cash withdrawals at non-UBS ATMs in Switzerland.

When does adding the Cash Withdrawals Worldwide module make sense?

Adding the optional Cash Withdrawals Worldwide module can save you money if you withdraw money at ATMs outside of Switzerland more than 12 times per year.

In the case of young professionals and adult individuals, adding the module can make financial sense even if you make less than 12 withdrawals at foreign ATMs. This is the case when you frequently make cash withdrawals at non-UBS ATMs in Switzerland. For example, if you never withdraw money outside of Switzerland but you do make more than 30 withdrawals at non-UBS ATMs in Switzerland per year, then adding the Cash Withdrawals Worldwide module can save you money.

Adding the Cash Withdrawals Worldwide module can save you a maximum of 156 francs per year (if you frequently withdraw money at foreign ATMs and/or non-UBS ATMs in Switzerland.

Which cards can be used for cash withdrawals?

Both the Cash Withdrawals Switzerland and the Cash Withdrawals Worldwide modules only cover withdrawals with these UBS cards: Maestro debit card; V Pay debit card; Debit Mastercard; Visa Debit.

The modules do not cover cash withdrawals with UBS credit cards. Using credit cards to withdraw cash at ATMs is generally not recommended because this typically generates high cash advance fees.

Are there any special promotional offers?

UBS is running an introductory promotion by which package and module fees are waived for 6 months for new customers and existing UBS customers who do not already have UBS debit cards. The waiver does not apply to existing UBS bank package users.

Which UBS customers will pay less with the revamped bank packages?

If you currently use a UBS Generation or Individual bank package and rarely or never withdraw money at non-UBS ATMs, you will pay 2 francs per month less for your UBS bank package after the change. You must deactivate the Cash Withdrawals Switzerland module to take advantage of these savings.

If you very frequently withdraw money outside of Switzerland, you may save money thanks to the new terms and conditions. To take advantage of potential savings, you must add the Cash Withdrawals Worldwide module.

Which customers will pay more after the change?

Depending on how many cash withdrawals you make, the new UBS bank packages can also be more expensive.

For example, if you use a UBS Young Generation or Individual bank package and frequently withdraw money at non-UBS ATMs in Switzerland, you may incur more fees after the change.

Teenagers and students who make frequent cash withdrawals will also see their costs go up. Up until now, UBS gave these customers unlimited withdrawals at all Swiss ATMs at no extra charge. Now UBS will only provide 2 complimentary Swiss franc withdrawals at non-UBS ATMs.

How do the UBS me packages compare to bank packages from other Swiss banks?

In the case of bank packages, your specific banking habits play a major role in determining which bank package is the most affordable. In general, the UBS bank packages land in the mid-field between the most and least affordable offers.

In almost every case, comparing and choosing the cheapest offers for each banking service individually works out cheaper than getting a bank package. The upcoming change to UBS bank packages provides a good opportunity to review and optimize the banking services you use.

The new UBS bank packages have already been added to the interactive bank package comparison on moneyland.ch.

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