Dear Client,
The Bank regrets to inform its cards holders about the decision of Corner Bank to stop issuance and support of all client's cards issued in frame of partnership with this Bank. The action of Corner Bank was taken without a preliminary note and with immediate effect in contradiction to normal business practice.
We ensure all our clients that their money is safe on the accounts at Dukascopy Bank. They have full access to their accounts and are free to use all other payment methods for deposits and withdrawals. The funds held on the cards will be returned back on the MCA account as soon as possible.
We remind that all holders of related cards are clients of Corner Bank. This Bank decides to issue or nor issue a particular card and implement all cards monitoring and restrictions as well as imposed by law sanctions screening.
This is why Dukascopy Bank within this cooperation may only mirror the requirements and restrictions imposed by Corner Bank.
We are sincerely outraged by what happened and ask journalists to stop spreading slander that Dukascopy Bank in any way helps to circumvent anti-Russian sanctions.
Dukascopy Bank being a Swiss bank is devoted to respecting all applicable Swiss regulation, including all sanctions supported by Switzerland. The Bank is focusing on servicing of international retail clients. The Bank does not consider High Net Worth (HNWs) individuals and politically exposed persons as its target group. The management of the Bank does not include politically exposed persons and have no connections with them.
Total Russian clients' funds do not exceed a tiny 4.3 million Swiss francs which corresponds to approximately only 3% of total clients equity with average 1.2 K per account. This figures obviously prove that the bank is not focused on the Russian market.
Once again, we ask involved people to stop dissemination of slander.
Dukascopy Bank is in good financial position, has very high liquidity and capital adequacy ratios that evidence its stability and sustainability.
On 28.02.2022 liquidity ratio LCR was 1082% while minimal required 100%. Capital adequacy ratio CET1 was 30% while minimal required 10.5%.
The figures above show that the bank is able to fulfill its obligations toward clients and partners without any difficulties. All services of the bank apart for payment cards are operating in normal mode without interruptions.
We are looking forward to resolve the issue with cards operations in the nearest future.
For all questions regarding the cards and other services of the Bank, please contact Dukascopy
Support Team.
Kind regards,
Dukascopy Bank
