Bank Frey & Co. AG

Since 2012 Bank Frey & Co. AG was subject of investigation of the United States Department of Justice on suspicion of tax evasion. On 17 October 2013, the bank announced that it would cease its activities. It's said in the statement that the bank's shareholders had opted for the bank to cease operations because tighter rules on banks accepting clients from the United States and other countries had made regulatory costs unsustainable.

Bank Frey & Co. AG participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.

Bank Frey & Co. AG was headquartered in Zürich.

Address
8021, Zürich, Switzerland
P.O. Box
3972
Phone
044 204 33 00
Fax
044 204 33 99
Bank Category
Stock exchange banks
Start Date
2002
Close Date
2013
Deposit Guarantee
100 000 CHF
BIC (SWIFT)
FREYCHZZXXX

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 CHF per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Switzerland are obliged to participate in Swiss deposit guarantee scheme.

In the case of Bank Frey & Co. AG failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  private individuals, commercial enterprises and public-sector offices
Covered Accounts  credit balances (e.g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts)
Covered Currencies  all
Maximum Protected Amount  100 000 CHF
Paid In Currency  CHF

Further Information

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Bank Frey & Co. AG and its components are shown in the table below.

BIC  FREYCHZZXXX
Bank BIC Code  FREY
Country Code  CH (Switzerland)
Location Code  ZZ
Branch Code  XXX