Banks are allowed to keep their branches open even as a wide range of shops are forced to close down due to the spread of the coronavirus. But it looks as if the shut-down is keeping people away in any case.

Banking services are exempt from the shut-down order in effect in Switzerland, because they are part of the essential provisions to be kept available for the population. But while most Swiss are now remaining at home and as most shops have been closed down, only few people need to go to the bank anymore.

As a consequence of the trickle of visitors, Swiss banks have started closing down some of their branches, according to the live-ticker of «Tagesanzeiger» newspaper. Raiffeisen Switzerland – the cooperative banking group is one of the country’s largest retail bank – has already shut some branches in its vast network, but each of its member banks will keep at least one branch open for its clients.

Closures in Border Regions

Credit Suisse, the second-largest bank, also has decided to close down in some areas, with locations close to the country’s borders affected, the newspaper reported.

Rival UBS and cantonal banks by contrast seem not yet to have taken similar steps. UBS however has reduced the opening hours of its branches in the Ticino-region, which borders on Italy and which is relatively strongly affected by the spread of the virus.