Neon: The Fully Digital Swiss Bank Account | KreditSOS

Neon is one of Switzerland's most successful digital banks (or "neobanks"), which has revolutionized how Swiss residents manage their finances. Founded in Zurich, Neon offers a low-cost Swiss bank account, managed entirely through an intuitive app. Unlike many other European digital banks, Neon provides a real account with a Swiss IBAN, making it particularly suitable for receiving salaries, making local payments, and managing daily expenses without the complexities of foreign IBANs. It is aimed at those looking for a modern, transparent, and mobile-focused banking experience.

What financial products does Neon offer?

Neon focuses on daily money management and payments, offering a set of essential, yet highly functional and low-cost products, specifically for the Swiss market. Its main offering includes:

• Digital Current Account with Swiss IBAN: For daily money management.

• Debit Cards (Mastercard or Visa Debit): For payments and withdrawals in Switzerland and abroad.

• International Payment Services: In collaboration with partners for advantageous exchange rates.

• Simplified Savings and Investments: Solutions to build capital and invest directly from the app (e.g., with Neon Invest).

Neon's Digital Current Account Offers

The Neon current account is its flagship product, offering a Swiss IBAN and all the functionalities for seamless daily banking management. You can make transfers, pay bills (including with eBill and QR-Bill), and receive your salary directly into the account. Management is entirely via the app, with real-time notifications, expense categorization, and a clear overview of your finances. Neon offers different account models (e.g., Neon Free, Neon Green, Neon Metal), each with specific fees and benefits, adapting to those who seek a free basic account or want additional features. Here you can find more details on the Neon current account and compare it with other options.

Neon's Debit Card Offers (Mastercard/Visa Debit)

With every Neon account, a debit card (Mastercard or Visa Debit) is provided, which stands out for its advantageous conditions, especially for payments and withdrawals abroad. Unlike many traditional banks, Neon does not apply fees on the exchange rate for foreign currency transactions, making it ideal for travelers and international online purchases. The app allows for intuitive card management, including the ability to lock/unlock it and control spending limits.

Neon's Simplified Investment Offers with Neon Invest

Neon has expanded its offering to include Neon Invest, a solution that allows you to start investing simply and directly through the app. In collaboration with specialized partners, Neon offers the possibility to buy stocks, ETFs, and cryptocurrencies, making investing accessible even to non-experts. This functionality integrates perfectly with the main account, allowing you to manage savings and investments from a single mobile platform as if it were an online broker.

Advantages and Disadvantages of Neon

To help you make an informed choice, here is a summary of the main pros and cons of relying on Neon:

Advantages:

• Authentic Swiss IBAN: Perfect for receiving salaries and managing local payments without problems.

• Very Low Costs: Often offers a free basic account and competitive fees, especially on currency exchanges.

• 100% Digital Management: An intuitive and complete app for all banking operations.

• Ideal for Travel and Online Purchases: No fees on exchange rates for foreign payments.

• Security: Collaborates with Hypothekarbank Lenzburg, benefiting from a solid Swiss banking license.

• Neon Invest: Possibility to invest directly from the app.

Disadvantages:

• No Physical Branches: Does not offer in-person support or advice; all operations are digital.

• Limited Product Range: Focuses on accounts and cards; does not offer mortgages, complex loans, or advanced pension advice.

• Cash Withdrawals: There might be limits or costs for cash withdrawals at other banks' counters or ATMs.

• Digital Customer Support: Support is mainly via chat or email, which might not appeal to everyone.

Contacting Neon: how to reach Neon's customer service

If you need assistance or would like more information, here is how you can contact Neon's customer service:

• In-app Chat: The primary and fastest channel for support.

• Email: service@neon-free.ch

• Online Help Center (FAQ): Extensive section of frequently asked questions and guides on the Neon website.

Neon Headquarters and Addresses

Neon is a digital bank that operates entirely online, but has its main headquarters in Switzerland. For banking operations, it collaborates with Hypothekarbank Lenzburg, which holds the banking license.

• Main Headquarters (Administrative): Neon Switzerland AG, Brandschenkestrasse 20, 8001 Zurich, Switzerland

• Banking Partner (License): Hypothekarbank Lenzburg AG

• Other Locations: Neon has no physical branches open to the public. All operations and interactions take place digitally.