FAQ

The platforms have been closed and are no longer accessible. Clients are only able to access the e-banking client area , except in certain cases.

The platforms have been closed and are no longer accessible. Clients are only able to access the e-banking client area , except in certain cases.

All CFD positions were closed following the decision to implement the liquidation of FlowBank on the 13th of June 2024 at 8:00 AM CEST.

All cash deposits in foreign currency were converted to Swiss francs (at the conversion rate applicable at the close of 13.06.2024).

The securities and other investments, as well as the income derived from them, along with any capital gains realized upon the closing of CFD positions, have been placed in separate accounts and will be returned to the client.

The cash deposited with FlowBank at the time the bankruptcy decision took effect will be reimbursed to clients up to CHF 100,000 per client – see here. For amounts exceeding CHF 100,000, claims must be filed in the bankruptcy process see here.

Generally speaking and if you have requested the reimbursement of your secured deposits to an account opened within a Swiss bank on the name of the same account holder than the account opened within FlowBank, the reimbursement of your secured deposits should not take more than 1 or 2 business days.

However, as you may appreciate, in the event of complex situations, the reimbursement of your secured deposits may take longer for compliance and regulatory reasons. For example but without limitations, the following situations may be considered as complex situations:

(i) Third-party reimbursements (i.e. reimbursement in favor of a different account holder and/or beneficiary);
(ii) Corporate clients reimbursements;
(iii) Reimbursement to an account held within a foreign bank;
(iv) Joint accounts reimbursements; or
(v) Change of personal information since the opening of the bank account at FlowBank.

In addition, it may not be excluded that certain clarifications need to be performed in relation with your account, in which case the payment process may only be initiated upon such clarification being completed to the satisfaction of the FlowBank.

The Liquidators are currently working on an automatic process in order to allow clients to sell their securities. If and when available, such process will be implemented through your client area and clients eligible to benefit from such option will be notified accordingly.

Each client should decide based on their priorities whether to sell or transfer their securities. Selling your securities is a simple operation allowing the client to receive their cash assets much quicker than to transfer your securities to another bank. Transferring your securities allows you to maintain your investment assets, but such transfer may be subject to a significant delay from the moment of request.

In any case, please note that the Liquidators are not entitled to sell or transfer your securities without your express instructions.

FlowBank can only effectuate 1st party transfers (where the account holder of the FlowBank account is the same as for the destination bank/brokerage). It is not possible to do transfers to 3rd parties.

Yes, the account should be closed after all cash and securities have been transferred out of the account. As for the sale of securities, the Liquidators are currently working on a solution to receive the closing instructions from clients in an effective way. If and when available, such process will be implemented through your client area and clients eligible to benefit from such option will be notified accordingly.

The dividends are currently credited and held in your deposit account (ending with .099), such account being segregated from the bankruptcy estate. The Liquidators are working on a solution in order to allow you to withdraw your dividends once all securities have been transferred or sold. If and when available, such process will be implemented through your client area and clients eligible to benefit from such option will be notified accordingly.

Each client is treated individually and there are many reasons that may explain why you did not receive those assets (cash or securities) you were expecting to receive. In case you believe that you have not been credited or only partially the assets you believe you are entitled to, please take contact with FlowBank’s customer service.