UBS review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
UBS holds a bank licence in the US, with deposits covered at FDIC up to USD 250,000 and a federal certificate in the name of UBS Bank USA, National Association.
Pros and cons
Pros
- A bank licence, so money is held as an insured deposit at FDIC up to USD 250,000 rather than an app wallet balance.
- A named banking entity sits behind the account, UBS Bank USA, National Association, which keeps the contract straightforward.
- An established group, founded 1998, with a federal certificate reading FDIC cert 57565.
- Cover of FDIC up to USD 250,000 is meaningful for anyone holding more than a thin buffer of everyday cash.
Cons
- Cover stops at FDIC up to USD 250,000, so any balance above that cap sits outside the scheme.
- The licence is a US one, bank in the United States, so eurozone customers get no matching protection here.
Who it suits
- US customers who want an insured bank deposit rather than a balance in a money app.
- Anyone parking a larger sum, since cover runs to FDIC up to USD 250,000.
- People who want a named banking entity, UBS Bank USA, National Association, behind a group founded 1998.
Who should look elsewhere
- Eurozone customers who want European protection: AXI Card Tarjeta y Credito covers deposits at EU DGS up to EUR 100,000.
- Anyone after a euro account held under a European scheme: XTB's deposits are covered at EU DGS up to EUR 100,000 instead.
- People who want a wallet for sending money rather than a bank balance: Skrill is licensed as e money.
The company behind it
The account is run by UBS Bank USA, National Association, a national association bank based in the United States. The group dates back to 1998, which puts it among the older names in banking. The federal certificate it holds reads FDIC cert 57565, and the cap on deposit cover is set by the scheme rather than by the bank.
How UBS compares
Licensed as e money, so it works as a money account for sending rather than a deposit to hold.
Where UBS is available
- Available
- United States
- Licence in United States
- FDIC (FDIC cert 57565), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Is my money safe with UBS?+
Up to a limit. The account sits with a bank rather than an e-money provider, and deposits are covered at FDIC up to USD 250,000. Anything held above that cap falls outside the scheme, so it is worth keeping larger balances elsewhere.
What licence does UBS hold?+
It is licensed as a bank in the United States, so the balance is a bank deposit rather than a wallet balance. The licence type is recorded as bank, and the certificate that identifies the bank with its regulator reads FDIC cert 57565.
Which company am I actually banking with?+
The account is held with UBS Bank USA, National Association, the US national association that carries the banking licence. That is the name on the banking side of things, and it is the entity the deposit scheme covers.
How established is the bank behind the account?+
The group dates back to 1998, so this is an established name in banking rather than a new app. The US banking entity, UBS Bank USA, National Association, sits inside that longer history, which readers who want a household name may read as a plus.
Is UBS a good fit for people outside the US?+
Less so. The licence and the deposit scheme both sit in the United States, with cover at FDIC up to USD 250,000, so a eurozone customer has no matching protection here. AXI Card Tarjeta y Credito offers EU DGS up to EUR 100,000 instead, which fits that profile better.
How does the deposit protection compare with the alternatives?+
UBS protection is a US scheme at FDIC up to USD 250,000. Among the alternatives, AXI Card Tarjeta y Credito sits at EU DGS up to EUR 100,000 and XTB's cover is EU DGS up to EUR 100,000, so the caps are close but the schemes are not interchangeable across markets.
Can UBS work as a wallet for sending money?+
Not quite the same use. UBS is a bank account, licensed as bank, so it suits holding and spending money. Skrill is the e-money option here, licensed as e money, which centres on sending and receiving rather than holding a deposit.
Who regulates the account?+
The regulator is the FDIC in the US, and the bank's certificate there reads FDIC cert 57565. That is the same body behind the deposit cover of FDIC up to USD 250,000, so supervision and insurance sit together rather than being split across separate schemes.
Sources
- banks.data.fdic.gov/bankfind-suite/bankfind/details/57565 checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Licence type, Licences
“CERT=57565; NAME=UBS Bank USA, National Association; WEBADDR=http://www.ubs.com/cefs/en/ubs-bank-usa/ubs-bank-usa.html; ACTIVE=1”
- en.wikipedia.org/wiki/UBS checked September 26, 2026
Backs: Founded
“Founded 29 June 1998 (through the merger of Union Bank of Switzerland and Swiss Bank Corporation)”
Compiled from 2 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Monthly fee, Currency conversion fee, Currencies.