UBS Joins Hong Kong Covid Quarantine Payers

Swiss financial giant UBS is the latest bank to announce reimbursement plans for employees from Hong Kong’s strict 21-day quarantine for travelers.

For full-time Hong Kong-based employees up to the executive director level, UBS will reimburse up to HK$2,000 ($256) per day to cover quarantine hotel expenses costs to «reunite with immediate family» outside of the city, according to an internal memo.

The reimbursement can total up to HK$42,000 for a single trip only and is available until November 30 next year, barring an earlier relaxation of restrictions by the Hong Kong government.

A spokesperson for the bank confirmed the continues of the memo.

UBS and a number of other global financial institutions have offered financial support to withstand the effects of Hong Kong’s zero-Covid policy.

At $5,384, UBS has taken a slight lead in single payout for quarantine costs, ahead of Morgan Stanley ($5,128), Goldman Sachs ($5,000), and J.P. Morgan ($5,000).