Discovering the most affordable digital banks operating in Switzerland during 2025.
Digitally chiseled Swiss banks? More like those fancy building structures in your wildest dreams! Tucked away in the digital realm, we're talking about 'virtual' financial institutions, or 'neobanks' - the banks you can access through a flick of your smartphone or a quick tap on your laptop.
So, how much do these digital mavens charge? Let's break it down for you. A recent survey by the Moneyland consumer platform has the scoop. Pitting Alpian, Kasparund, Neon, Radicant, Revolut, Wise, Yapeal, Yuh, and Zak against conventional Swiss banks, they compared their fee structures.
Did you think expensive banks are a thing of the past? Think again. Radicant emerges as the champion, with overall fees less than 20 Swiss francs per year. Next in line is Alpian, with fees of 49.50 francs, followed by Wise (50.55 francs). Revolut, however, underperforms, with costs starting at 92 francs. The reason? A 'Fair Use' clause that imposes a 1-percent commission, the only bank to do so.
Surprisingly, a physical bank, WIR, takes the trophy when the customer's monthly income, bill payments, and savings account are added to the equation. Despite online banks' lower overhead costs, traditional WIR lands in the winning spot, with a fee of just 5.80 francs. In the traditional bank ranking, Radicant takes the second spot, followed by Zurcher Kantonalbank and Valiant.
For the complete comparison, jump right here.
Are digital banks safe, you ask? Just as secure as your grandpa's aging Swiss bank vault. They must meet legal requirements set by the Swiss Financial Market Supervisory Authority (FINMA), ensuring they have sufficient capital, can manage risks, and maintain an irreproachable reputation.
So, whether you love or loathe digital banking, the choice is yours. If the thought of clicking an app or browsing a website makes your eyes glaze over, stick to the classic Swiss banks. But if performing digital transactions is your thing, neobanks may just be the satisfaction you've been seeking.
Want to learn more about whether it's worth opening an online neobank account in Switzerland? Give it a read here.
Digital neobanks, like Alpian, Kasparund, Neon, Radicant, Revolut, Wise, Yapeal, Yuh, and Zak, offer competitive fee structures in the world of business and finance, enabled by technology. For instance, Radicant charges less than 20 Swiss francs annually, whereas Revolut starts at 92 francs due to a 'Fair Use' clause imposing a 1-percent commission. Contrastingly, a traditional bank, WIR, seems to offer lower fees when considering monthly income, bill payments, and savings account, with a fee of 5.80 francs.
