(Financial) services Big differences in neobank fees
The costs for smartphone banks in Switzerland differ, sometimes massively. This is shown in a new comparison by the online portal Moneyland.ch. One traditional bank was cheaper than all the neobanks examined.
04.06.2025, 09:08
SDA
According to the comparison of fees, the cheapest offers cost less than CHF 9 per year, while the most expensive cost over CHF 216, as the comparison service announced on Wednesday.
Radicant's neobank offer was the cheapest in the test. It cost just CHF 8.80 per year for card use. The most expensive was the offer from Zak, which cost up to 216.80 francs.
However, of all the offers examined, a banking package from the traditional bank WIR was even cheaper: taking interest into account, this ultimately resulted in a credit of 1.70 francs.
Different exchange rate surcharges
The fees for foreign transactions are particularly significant. According to Moneyland.ch, exchange rate surcharges of 0.1 to over 4 percent are possible - depending on the bank.
However, the costs for customers are only one factor, said Moneyland expert Ralf Beyeler. Ease of use, security and customer service also play a role. However, such factors are difficult to measure.
All fees per year were calculated for the fee comparison: It was assumed that a card would be used in Switzerland and abroad for 10,000 francs or the equivalent of 2,000 francs in euros, US dollars and Thai baht, seven cash withdrawals at ATMs and additionally the use of a private account with costs for payment transactions and credited interest.
The analysis took into account both popular neobanks such as Neon, Yuh, Revolut and Wise as well as established Swiss banks. Smartphone banks are particularly popular because of their low costs when paying abroad.
