Following the decision by Swiss banks to apply negative interest to CHF credit balances held with them, we wish to advise that, with effect from 15 April 2015 and until further notice, a negative rate of interest of 1.25% p.a will be applied on all CHF current accounts holding credit balances in our books.
Negative interest shall be calculated on daily end of day balances and charged to your account at each end of month.
Should you have any query, please feel free to contact your Relationship Manager on (230) 208 5500.
Your AfrAsia Bank Team
17 March 2015