Question 1

What is Bank-now AG?

Accepted Answer

Bank-now AG is a specialized Swiss consumer finance bank headquartered in Horgen, Canton of Zürich. As a wholly-owned subsidiary of UBS Group AG (following the 2023 UBS acquisition of Credit Suisse), Bank-now AG focuses exclusively on consumer credit and leasing solutions for private individuals and small to medium-sized enterprises. With total assets of approximately 5 billion CHF as of 2024, the bank holds a market share of 0.17% in Switzerland and ranks as the 53rd largest bank in the country. Bank-now AG operates under the brand names CREDIT-now for consumer loans and LEASE-now for vehicle leasing products.

Question 2

When was Bank-now AG founded?

Accepted Answer

Bank-now AG was officially founded on December 18, 2006, and commenced operations on January 3, 2007. The bank was created through the strategic merger of Credit Suisse's personal loan and car leasing business divisions with City Bank AG. This consolidation brought together decades of experience from these predecessor units to establish a dedicated specialist institution for consumer financing. Following Credit Suisse Group AG's acquisition by UBS Group AG in 2023, Bank-now AG became part of the UBS corporate structure while maintaining its independent operational identity as a consumer finance specialist.

Question 3

Where is Bank-now AG headquartered?

Accepted Answer

Bank-now AG is headquartered at Neugasse 18, 8810 Horgen, in the Canton of Zürich, Switzerland. Horgen is located on the western shore of Lake Zürich, approximately 20 kilometers south of Zürich city center. The bank's head office houses its executive management, central operations, and administrative functions.

Question 4

Where does Bank-now AG operate?

Accepted Answer

Bank-now AG operates throughout Switzerland with a network of approximately 16 branches strategically located across all major regions of the country. The bank maintains physical locations in key cities including Zürich, Bern, Winterthur, and other important commercial centers. In addition to its branch network, Bank-now AG serves customers through an extensive network of approximately 4,500 affiliated sales partners distributed across Switzerland. This multi-channel distribution strategy enables the bank to reach customers in both urban and rural areas throughout the Swiss Confederation.

Question 5

What services does Bank-now AG offer?

Accepted Answer

Bank-now AG offers a focused range of consumer financing products and services. The bank's primary offerings include consumer loans ranging from CHF 1,000 to CHF 250,000 with terms from 6 to 84 months and effective annual interest rates between 4.9% and 10.9% (with preferential rates for homeowners). Vehicle financing solutions cover both new and used cars through the LEASE-now brand. The bank also provides mortgage loans, credit cards, and payment protection insurance options covering death, unemployment, disability, illness, and accident.

Digital services include the My BANK-now customer portal, which allows clients to manage their loans online, request credit increases, pause installment payments, and access payment details with QR codes. The BANK-now Access mobile app provides secure two-factor authentication for digital banking services. Customers can apply for loans online with automated initial assessments and receive credit decisions within three working days. The bank offers multilingual customer support in over 15 languages through telephone and in-person consultations at branches.

Question 6

What makes Bank-now AG unique?

Accepted Answer

Bank-now AG distinguishes itself through its exclusive specialization in consumer finance, unlike broader universal banks in Switzerland. The bank emphasizes responsible lending with certified credit specialists who conduct thorough solvency assessments in accordance with the Swiss Consumer Credit Act. Unique customer benefits include the ability to defer monthly installments twice free of charge, free early repayment within ten days of loan disbursement beyond the statutory withdrawal period, and flexible loan consolidation services that combine multiple outstanding loans from other providers into a single manageable payment.

The bank's commitment to transparency and partnership-based advisory services sets it apart in the consumer finance market. Bank-now AG employs approximately 300 specialists dedicated to understanding individual customer situations and providing tailored financing solutions. The institution's strong backing by UBS Group AG provides financial stability while maintaining operational independence and focus on consumer credit expertise. Customer deposits up to 100,000 CHF are protected by Switzerland's deposit guarantee scheme through esisuisse – Deposit Insurance (ESI).

Question 7

What type of financial institution is Bank-now AG?

Accepted Answer

Bank-now AG is classified as a specialized consumer finance bank (specialized bank - Category 5) under Swiss banking regulations. Unlike universal banks that offer comprehensive financial services across retail, corporate, and investment banking, Bank-now AG operates with a focused mandate specifically targeting the consumer credit and leasing market segments. The bank is fully licensed and supervised by the Swiss Financial Market Supervisory Authority (FINMA) and is registered in the Swiss Commercial Register under UID CHE-113.328.982. As a FINMA-regulated institution, Bank-now AG must comply with all Swiss banking laws, capital adequacy requirements, and consumer protection regulations. The bank's specialized structure allows it to concentrate resources, expertise, and systems exclusively on consumer financing activities, distinguishing it from cantonal banks, private banks, and full-service commercial banks in the Swiss financial landscape.

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About Bank-now AG in Switzerland