Negative interests in Swiss Banks
Well you are hearing it right. You will be charged for keeping money in Swiss banks. It is quite low but still a negative interest is a negative value.
It was during the 1970s that Swiss banks used this to defer people from using their currency as safe tax haven. This happens at the time of a crisis. The 1970 was attributed to the middle east crisis.
This time it is the Russian crisis.
This normally happens when the currency values starts deteriorating people start to convert to Swiss franc.. Which creates a heavy demand at forex and causes the value of Swiss franc to rise.
The higher Swiss franc is not good for the countries who import from Switzerland. Also it is not attractive for tourists.
To defer people who are trying to use Swiss banks as safe havens the negative interest was forced. The catch is that it is only for international accounts and holding work more the 10 million Swiss francs.