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UBS set to charge wealthy for keeping euro savings

Annual fee of 0.6% will be imposed on accounts with over 1m euros, from May

Fri, Mar 24, 2017 - 5:50 AM

Zurich

UBS, the world's biggest wealth manager, will impose a penalty charge on customers who park euros with the bank, making it one of the largest lenders to break what has been a taboo in finance as sub-zero interest rates bite.

The Swiss bank will introduce from May an annual...

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