The UBS customer service has come under scrutiny due to a married couple's frustrating experience with the bank.

Background

The couple wanted to transfer CHF 100,000 from the wife's UBS private account to LGT Switzerland and inquired about the conditions for a fixed-term deposit.

UBS responded with two letters, the first of which requested a fee of 60 francs and additional information. This initial delay led to a prolonged and frustrating process.

Lack of Communication

Despite the couple's expectations for a swift transfer, UBS remained silent. The husband sent a reminder to the bank, but little progress was made.

Account Termination

The wife eventually decided to terminate her account with UBS due to the bank's failure to execute the payment order.

Implications for UBS

The couple's experience highlights issues with UBS's customer service, including a lack of communication and accountability. The lengthy process raises questions about the efficiency and responsiveness of UBS's operations.

The couple's decision to transfer their funds away from UBS serves as a cautionary tale for other customers. UBS's handling of this situation may have lasting implications for its reputation, emphasizing the need for transparency, accountability, and effective communication in the banking industry.