Bank refused to open account for “No to marriage for all"

Out of fear for its good name, the Raiffeisen bank refused to open an account for the "No to marriage for all" association. And this is not an isolated case. Opponents of radio and television fees also had to look for an alternative.

The ‘No to marriage for all’ (Nein zur Ehe für alle) association has filed a criminal complaint against Raiffeisenbank Zug, claiming it is in breach of the anti-discrimination standard. The association criticises the Raiffeisen Bank Zug for refusing to do business with them due of their heterosexual orientation. The Raiffeisenbank Zug justified its refusal orally as a "reputational risk", without specifying it any further. The communications department of Raiffeisenbank Switzerland commented on the case in a slightly evasive manner: "The decision to open or terminate a business relationship within the framework of the freedom of contract lies with the independent Raiffeisen banks in individual cases," said a spokesman.

This is not the first time that the Raiffeisenbank Zug did not want to work together with a political association. The ‘No Billag’ association, whose initiative to abolish radio and television fees failed in the spring of 2018, still exists, and wanted to open an account with Raiffeisenbank Zug in 2019. All the documents were submitted, and the customer advisor had already given the green light. ‘No-Billag’ President Andreas Kleeb describes what happened next: "But then the Board of Directors of Raiffeisenbank Zug stopped the venture."

The Raiffeisenbank Zug does not provide accounts for political associations
Photo: Matthias Jurt (Zug, 9 April 2021)

He suspects that the board of directors did not like the political orientation of his association, which now has an account with Zug Cantonal Bank (ZKB). The Raiffeisenbank spokesman made no comment on the ‘No-Billag’ case: "The Raiffeisen does not provide any information on internal decision-making processes."

The "No to marriage for all" association has triggered a referendum. It is expected that people will be asked to decide in the second half of the year whether same-sex couples should also be allowed to marry. The opponents of same-sex marriage had to ask at several banks before they were able o open an account – until the Postfinance were able to accommodate them.

SVP National Council criticises Bank's decision
Marcel Dettling, the SVP National Councillor (Nationalrat) from Schwyz, has no understanding for the boycott by the Raiffeisenbank Zug. He is a member of the committee against "marriage for all" and also sits on the board of directors of Raiffeisenbank Yberg. "The biggest reputational risk for the bank is the Vincenz case (recent fraud case against Raiffeisen Group head: editor)," says Dettling. It’s wrong to deny an account to a democratic association out of so-called ‘political correctness’.