FINMA opens bankruptcy case against FlowBank

FYI: People have started getting their shares back!

If you want to share your story here or privately, don't hesitate.
 
T

Thanks for this news.Still waiting for my securities to be back.The pain is the profit in that I cant sell.
Have you been able to request the securities transfer already? Did they tell you how long it would take?

Since they have removed the license, FlowBank can't sell the shares and then send you the cash (and this could be bad in some cases if people want to stay invested).

I hope you will get your securities soon!
 
Have you been able to request the securities transfer already? Did they tell you how long it would take?

Since they have removed the license, FlowBank can't sell the shares and then send you the cash (and this could be bad in some cases if people want to stay invested).

I hope you will get your securities soon!
I sent so many emails and got them by phone but helpdesk told me to be patient because process took time.I asked them how long and no one was able to be straight with me.
I think Flowbank backoffice is underwater.I filled the form one week ago and none of my shares were transfered.I still have profit in with most of my stocks but definitely frustration.
I opened a new bank account with Interactive Broker.Very professionnal. I should have started with them...well...Who could have guessed that Switzerland will be twice BK with bank...
Insane is the final word.
Thanks for your support Mr.
 
Sorry to hear about bad communication. I expect that 22'000 other customers are in the same case and asking the same questions, so you are probably right about them being underwater.

I filled the form one week ago and none of my shares were transfered
One week is still probably on the reasonable side for a share transfer (especially when they have to execute thousands). Even though it sucks, I would be patient for at least one more week.

🤞
 
I have heard back from some users are that transfers are taking a long time. Apparently, it is a manual process. But I am still surprised by how long it takes them to process these transfers. They are also apparently giving priority to Saxo and Swissquote, so people moving to IB may get their shares even later :(
 
A few days ago, the liquidators posted a new port on the website. Apparently, they have now processed about 84% of the deposits and 70% of the shares (in total number of shares, may be less in customers).

This is definitely taking longer than I expected.
 
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