FAQ

You can reach the liquidators by email at project-liquidateurfb@walderwyss.com. If you have questions regarding your FlowBank account, you can also reach out to the Customer Service team at +41 (0)22 888 66 00.

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. For amounts exceeding CHF 100,000, claims must be filed in the bankruptcy process.

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.

* Certain securities are subject to sanctions imposed by various jurisdictions that prohibit their sale and transfer.

* Certain securities are subject to restrictions preventing their automatic sale. These restrictions may result from a number of factors, including the liquidity of the security, the sub-custodian concerned or whether the securities are fractional. If the sale of these securities is possible, it will be carried out manually by FlowBank SA’s trading desk in liquidation within 76 hours of your instruction.

If the securities cannot be transferred to another financial institution or sold manually by the trading desk of FlowBank SA in liquidation, the securities must be waived.

When an order to sell a position is placed during the opening hours of the market concerned, execution is in principle immediate. It is possible that the order is rejected for various reasons (in particular if it is placed outside market opening hours), in which case the order will be executed manually by FlowBank SA’s trading desk in liquidation within 76 hours, provided that the sale of the position concerned proves possible.

The general terms and conditions governing the relationship between customers and FlowBank SA in liquidation continue to apply. Consequently, the sales charges applicable before the bankruptcy of FlowBank SA in liquidation are deducted when the securities are sold.

Cash resulting from the sale of securities and/or dividends received since 13 June 2024 at 8:00 CET can only be returned if the securities and corporate actions account (AAAXXXX.099) no longer contains any positions. Thus, the option to withdraw cash only becomes available on the sales platform when all positions have been sold, transferred or waived.

* Dividends are transferred in the same way and at the same time as the proceeds from sales of securities (see question above).

* If you have requested the transfer of your securities, you can request the repayment of dividends via your customer area once all the securities have been transferred to another financial institution.

If the reference contains 8 digits, you must insert ‘XXX’ at the end of the 8-digit BIC reference. For example, a BIC reference BNPAFRPP should be indicated as BNPAFRPPXXX.