This article is a summary of the overall services of the Swiss bank account of Neon Bank.
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Attention ⚠ My goal with this article is not to propagandize for Neon. In other words, the purpose of this article is to summarize the positive and negative aspects of Neon.
Neon Analysis as a Bank Account
In this article I have written only about Neon as a bank account.
To understand services like trading accounts or Neon 3a, I've written other articles on this site.
Presentation of the bank
First, Neon is not officially a bank. It's a digital bank account from a Smartphone application.
Neon is from Zurich. According to their blog, the goal of this bank is for the customer to pay as little bank fees as possible. Indeed, Neon is, from a financial point of view, one of the most advantageous banks in Switzerland. 😉
Banking license
Neon has a partnership with Lenzburg Bank, guaranteeing up to CHF 100,000, as in a traditional Swiss bank, in the event of Neon's bankruptcy.
Therefore, for the customer, There is no difference between owning Neon or any other traditional bank.
Currencies
Neon is a bank account that only has the Swiss franc as currency in the bank balance.
In fact, if other currencies enter or leave the Neon account, Neon automatically converts the foreign currency into Swiss francs (or vice versa).
Registration
Regarding registration, opening the account is simple and virtual. Directly from the Smartphone.
In reality, opening a bank account takes about ten minutes and Neon asks for official documents such as an identity document for example.
As a condition to register with Neon, you must:
- Residing in Switzerland
- Having Swiss nationality, a B or C permit
- Be at least 15 years old
Types of cards and bank accounts
Note that Neon has four types of accounts with respective bank cards. They come in red, green, and metal versions.
In order to have a visual, here is a table to essentially summarize the differences.
| FREE | More | Overall | Metal | |
|---|---|---|---|---|
| Monthly price | 0 CHF | 2 CHF | 8 CHF | 15 CHF |
| Free banking services | Payments in Switzerland | Fee-free payments worldwide + 2 fee-free withdrawals in Switzerland | Fee-free payments worldwide + 3 fee-free withdrawals in Switzerland | Fee-free payments worldwide + 5 fee-free withdrawals in Switzerland |
| Additional functions | / | Extended warranty insurance | 3 insurances | 7 insurances |
The financial network in order to pay
Neon only offers Pre-Paid MasterCard cards.
For this article, I will focus solely on the red version. Because it is the only version without monthly fees.
Neon Commissions
Annual Commissions
Account maintenance fees and bank card fees
| Account maintenance fees (bank management fees) | 0 CHF |
| Bank card fees | 0 CHF (but 20 CHF for sending the card by mail, only once). |
👉 0 CHF per year to have an open bank account. It is essential in a bank account.
The payment card costs 20 Swiss francs but only on the first use.
Commissions for payment
| Payments in Switzerland | 0 CHF |
| Payments abroad (worldwide) | 0.35% |
| Exchange rate increase | 0 CHF |
👉Payments in Switzerland are free of charge.
Regarding payments abroad, It is one of the only bank cards in Switzerland that allows payments abroad with less than 0.40% in commissions!
Withdrawal Commissions
| Cash withdrawal in CHF in Switzerland, at all ATMs | 2.5 CHF withdrawal |
| Withdrawal abroad | 1.5% |
| Withdrawing Euros in Switzerland | 5 CHF (to be avoided) |
| Exchange rate surcharge | 0.35% |
👉 CHF withdrawals in Switzerland should be avoided!
Regarding cash withdrawals abroad, the commission is acceptable, but not negligible.
Transfer commissions
| Bank transfer in Switzerland | 0 CHF |
| Bank transfer abroad with common currencies (e.g. Euro, Pound Sterling and US Dollar)) | Wise Price + 0.4% (about 1.5%) |
| Bank transfer other currencies | Wise Price + 0.4% (variable depending on currency) |
Bank transfers in Switzerland are without surcharges.
👉 Regarding international bank transfers, the commission is correct..
Application functionality
| Benefit | |
|---|---|
| Simplicity and practicality of the application | 👌 (Good app but some bugs from time to time) |
| Cybercrime | 👍 (to my knowledge) |
| Creating sub-accounts | 👍 (Spaces) |
| Sharing multiple accounts | 👌 (Possible but chargeable) |
| Payment by card | 👍 |
| Paying bills by scan | 👍 |
| Payments and bank transfers during office hours | 👍 |
| Payment by e-bills | 👍 |
| Payment by Twint | 👍 |
| Creation of standing orders | 👍 |
| Free withdrawal from all ATMs (Switzerland) | 👎 |
| Ability to send money abroad | 👍 (In the world) |
| Details of commissions when paying or transferring money | 👍 |
| Mobile payment | 👍 |
| Account statement and supporting documents | 👍 |
Customer service
Customer service is very good 😉
Indeed, the responses are generally quick and very detailed.
Conclusion
To conclude, here is my summary of Neon Bank.
| Benefit | My Punctuation out of 10 |
|---|---|
| Security | 9.9 (- 0.1 point because you never know) |
| Management fees | 10 (free) |
| Bank card fees | 9.5 (- 0.5 points for the 20 CHF charged for sending the card) |
| Payments in Switzerland | 10 (no fees) |
| Payments abroad | 9.5 – Commission of only 0.35% – Payment almost anywhere in the world |
| Simplicity for application | 9.5 (Some occasional bugs with the application) |
| International Bank Transfers | 8.5 (Prices are correct but high for large amounts) |
| Cash withdrawal in CHF in Switzerland | 8 (2.50 CHF per withdrawal) |
| Cash withdrawal in Euro in Switzerland or abroad | 8 (1.5% withdrawal is correct but remains a significant commission) |
| Interest rates | 9 Good interest rates. Plus, for a bank with no management fees |
| TOTAL Punctuation | 9.2 / 10 |
NEON Promo Code: 245KV6
My opinion on Neon bank account
➡️ I think Neon is a very complete bank account! Without a doubt, one of the bank accounts with the lowest commissions in Switzerland !
👉 Indeed, Neon's major advantage compared to other bank accounts is that international payments incur fees of only 0.35%..
However, the free version of Neon does not allow free cash withdrawals from ATMs, which can be annoying.
👉 Actually, if you only use Neon to pay by card and receive money, it's cheap. 😉
However, as I write this, my preferred bank account is We have a Top package !
NEON Promo Code: 245KV6
Points to improve
Neon has a lot of positives, as it is a bank account and has very good banking rates.
However, here are the main points that Neon Bank should improve in my opinion:
- Fewer bugs on application
- Reduce commissions with foreign transfers
- Allow overseas payments at 0% (like in the good old days)
- Leave at least 1 fee-free withdrawal per month
- Reduce commissions for withdrawals abroad
Neon Promo Code
In case you are interested in installing Neon. My promo code is:
NEON Promo Code: 245KV6
SEO FAQ – Neon Bank Switzerland: reviews, fees and how it works
1. What is Neon Bank?
Neon is a Swiss digital bank account accessible via a mobile app. Although Neon is not a traditional bank, the accounts are managed in partnership with a licensed Swiss bank, which allows for deposit protection up to CHF 100,000.
2. Is Neon a safe bank in Switzerland?
Yes. Client assets are protected by Swiss deposit insurance up to CHF 100,000. Neon collaborates with the Lenzburg Mortgage Bank, a regulated Swiss bank.
3. What are the fees for a Neon account?
The free version of Neon Free does not charge any account management fees or annual bank card fees. Only certain services, such as cash withdrawals or payments abroad, may incur fees.
4. How much does it cost to make a payment abroad with Neon?
With Neon Free, payments abroad are charged at just 0.35 % of the amount paid, with no exchange rate markup. This makes it one of the cheapest bank cards for travel from Switzerland.
5. Can Neon be used everywhere in the world?
Yes. The Neon card uses the Mastercard network, which allows you to pay in the majority of shops and ATMs worldwide.
6. What are the withdrawal fees with Neon?
Withdrawals in Switzerland generally cost CHF 2.50 per transaction with the free version. Abroad, Neon applies a withdrawal fee of 1.5%.
7. Is Neon suitable for travelers?
Yes. Thanks to its low fees on international payments and the absence of markups on the exchange rate, Neon is an excellent bank card for travel abroad.
8. Can I receive my salary in a Neon account?
Yes. Neon provides a personal Swiss IBAN allowing you to receive salary, reimbursements or any other bank transfer in Switzerland.
9. Does Neon offer Twint?
Yes. Neon is compatible with Twint, which allows for easy mobile payments and money transfers in Switzerland.
10. Can international transfers be made with Neon?
Yes. Neon allows you to send money abroad through its partnership with Wise. Fees remain competitive for international transfers.
11. What is the difference between Neon Free, Plus, Global and Metal?
The main difference lies in the included insurance, free withdrawals, and certain additional benefits. Neon Free remains the most economical version with zero monthly fees.
12. Is Neon better than a traditional Swiss bank?
For those seeking an inexpensive bank account, Neon is often more advantageous than a traditional bank thanks to its low fees and modern app. However, customers who frequently make cash withdrawals might prefer other options.
13. What are the main advantages of Neon?
The main advantages of Neon are:
- No account management fees
- Bank card with no annual fee
- Low fees abroad
- Intuitive application
- Twint compatibility
- Deposit guarantee up to CHF 100,000
14. What are the disadvantages of Neon?
The main disadvantages are:
- Fee-based withdrawals in Switzerland
- Fees on withdrawals abroad
- Occasional bugs in the application
- International payments now charged at 0.35 %
15. Is Neon a good bank account for saving money?
Yes. For people wishing to reduce their banking fees in Switzerland, Neon is one of the most economical bank accounts on the market thanks to its low fees and its fully digital operation.
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Compared to before, I was a person who consumed a lot until the day I realized that my consumption made me sadder and poorer 😑
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Without realizingI started to focus on saving and investing to depend on a boss for as little time as possible and to speed up my personal projects.
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Are you rather minimalist or frugal Jonny?
I am as minimalist as I am frugalist. However, there are situations where I lean more towards an art of life.
To conclude, I think the most important thing is to feel comfortable in your lifestyle 😊
Info on Neon – https://www.neon-free.ch/fr/faq
Neon Price – https://www.neon-free.ch/fr/prix
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