Swiss franc surge leads to disruption at some banks

ZURICH (Reuters) - At least two major Swiss banks saw disruptions to their services in the wake of the Swiss central bank’s shock decision on Thursday to scrap its three-year cap against the euro.

The Swiss National Bank (SNB) shook financial markets earlier in the day by scrapping its cap on the franc, sending the euro plunging as much as 30 percent below the 1.20 threshold EURCHF=.

Amid the extreme currency fluctuations, PostFinance, one of Switzerland’s biggest banks for retail clients, temporarily stopped distributing euro bills, a bank spokesman said.

“Customers were unable to withdraw euros from our cash machines,” the spokesman said, adding that their clients now had access to euros at its branches and online.

Switzerland's biggest bank UBS UBSG.VX said some of its clients were unable to access its online banking services and could not say for certain whether some of its cash machines were unable to distribute euros.

A spokeswoman for Credit Suisse CSGN.VX, Switzerland's second largest bank, said the bank had not experienced any disruptions to its services.

Reporting by Joshua Franklin and Oliver Hirt; Editing by Elaine Hardcastle