Neon and Yuh are the two neobanks that come up in every Swiss personal finance conversation. Both are free, both are app-only, and both have a Swiss IBAN. But after digging into the actual fee structures, investing costs, and daily banking experience, the "which one should I pick" question has a surprisingly clear answer depending on how you use your bank.
Neon vs Yuh: the quick verdict
If you only have time for one paragraph: Yuh wins on ATM withdrawals, multi-currency accounts, and fractional investing. Neon wins on foreign currency fees, international transfers, and budgeting tools. Neither charges account fees on their base plans. The right choice depends on whether you travel frequently (pick Neon) or want an all-in-one banking and investing app (pick Yuh).
Here's how the two stack up on the things that actually matter:
| Feature |  Neon (free plan) |  Yuh |
|---|---|---|
| Account fee | CHF 0/month | CHF 0/month |
| Debit card | Mastercard (CHF 20 delivery) | Mastercard (free) |
| ATM in Switzerland | CHF 2.50 per withdrawal | 1 free/week, then CHF 1.90 |
| ATM abroad | 1.5% + 0.35% FX markup | CHF 4.90 flat per withdrawal |
| FX markup on payments | 0.35% | 0.95% |
| SEPA transfers | Free (via Wise) | Free |
| Swiss stock trading | 0.50% | 0.50% |
| Foreign stock trading | 1.00% | 0.50% |
| Fractional shares | No | Yes |
| Crypto trading | No | Yes (1.00%) |
| Multi-currency account | No (CHF only) | Yes (13 currencies) |
| Spaces/sub-accounts | Yes | Yes (Save feature) |
| TWINT | Via UBS/TWINT Prepaid | Dedicated Yuh TWINT |
| Banking partner | Hypothekarbank Lenzburg | Swissquote Bank |
| Deposit protection | CHF 100,000 (esisuisse) | CHF 100,000 (esisuisse) |
That table covers the headline numbers. But the real differences show up in specific scenarios, which is what the rest of this article digs into.
Is Yuh better than Neon for everyday banking?
For day-to-day banking in Switzerland, the two are remarkably similar. Both offer free account management, free domestic payments, free eBill, and Apple Pay/Google Pay support. The differences that matter in practice are small but add up.
ATM withdrawals are where Yuh has a clear edge. You get 1 free withdrawal per week (4 per month), while neon free charges CHF 2.50 every single time. If you withdraw cash twice a month, that's CHF 60 per year with Neon vs CHF 0 with Yuh. However, Neon offers free withdrawals through Sonect (a cash-back network at kiosks and shops), which partially offsets this if you live near a participating store.
TWINT works on both, but Yuh's dedicated TWINT app is more convenient than Neon's workaround through UBS TWINT or TWINT Prepaid. If TWINT is a big part of your daily spending, Yuh's integration feels smoother.
Spaces (sub-accounts) for budgeting are a genuine strength of Neon. You can create multiple pockets for specific goals, vacation fund, tax reserves, emergency savings. Yuh has its Save feature which works similarly but Neon's implementation feels more polished for budget management.
Bottom line for everyday use: Yuh is slightly better if you use ATMs and TWINT frequently. Neon is slightly better if budgeting tools matter to you. For most people, the difference is marginal.
Which is cheaper for travel and foreign currency?
This is where the comparison gets decisive. If you travel or spend in foreign currencies, the fee difference between Neon and Yuh is significant.
Neon charges 0.35% on foreign currency payments with the free plan. That's it. No additional markup, no hidden fees. On a EUR 500 hotel booking, you'd pay about CHF 1.75 in FX fees. Neon's paid plans (Plus, Global, Metal) drop this to 0% on card payments.
Yuh charges 0.95% on all currency conversions. That same EUR 500 hotel booking costs you about CHF 4.75 in FX fees. Almost 3x more than Neon on the free plan.
For ATM withdrawals abroad, it's more nuanced. Yuh charges a flat CHF 4.90 per withdrawal regardless of amount. Neon charges 1.5% plus the 0.35% FX markup. This means:
- Withdrawing EUR 100: Neon costs ~CHF 1.85, Yuh costs CHF 4.90. Neon wins.
- Withdrawing EUR 500: Neon costs ~CHF 9.25, Yuh costs CHF 4.90. Yuh wins.
The breakeven point is around EUR 265. Below that, Neon is cheaper. Above that, Yuh's flat fee works in your favor.
For frequent travelers, Neon is the better choice overall because card payments (which you'll make far more often than ATM withdrawals) are significantly cheaper. If you're comparing neon vs Revolut for travel, Revolut still beats both on FX rates, but Revolut lacks a Swiss IBAN and full Swiss banking integration.
Neon vs Yuh for investing: which has lower fees?
Both neobanks now offer stock and ETF trading directly in their apps, which is a big deal for the Swiss market. But their fee structures and product ranges differ.
Swiss Stocks & ETFs
Both charge 0.50% per trade on Swiss stocks and ETFs. No custody fees on either platform. For a CHF 1,000 investment in an SPI ETF, you'd pay CHF 5 on both Neon and Yuh. It's a tie.
Both also offer selected 0% commission ETFs, mostly tracking Swiss and global indices. Check each app for the current list, as these change periodically.
International Stocks & ETFs
This is where Yuh pulls ahead. Yuh charges 0.50% on foreign stocks and ETFs. Neon charges 1.00%. On a CHF 5,000 investment in a US stock, that's CHF 25 with Yuh vs CHF 50 with Neon.
Yuh also includes the FX conversion in the 0.50% fee (through their 0.95% exchange rate), while Neon's 1% includes its conversion costs via the Mastercard interbank rate. For regular investors buying international ETFs, Yuh saves you real money over time.
Crypto & Extras
Yuh offers cryptocurrency trading (Bitcoin, Ethereum, and 30+ others) at 1.00% per trade. Neon doesn't offer crypto at all.
Yuh allows fractional shares, meaning you can invest CHF 25 in a stock that costs CHF 500 per share. Neon requires you to buy whole shares, which limits your options with expensive stocks.
Yuh has a loyalty program (Swissqoins) that rewards you with SWQ tokens for card payments and trades. It's not life-changing (about CHF 20 to 50 per year for active users), but it's something Neon doesn't match.
Both charge 0.50% per trade on Swiss stocks and ETFs. No custody fees on either platform. For a CHF 1,000 investment in an SPI ETF, you'd pay CHF 5 on both Neon and Yuh. It's a tie.
Both also offer selected 0% commission ETFs, mostly tracking Swiss and global indices. Check each app for the current list, as these change periodically.
This is where Yuh pulls ahead. Yuh charges 0.50% on foreign stocks and ETFs. Neon charges 1.00%. On a CHF 5,000 investment in a US stock, that's CHF 25 with Yuh vs CHF 50 with Neon.
Yuh also includes the FX conversion in the 0.50% fee (through their 0.95% exchange rate), while Neon's 1% includes its conversion costs via the Mastercard interbank rate. For regular investors buying international ETFs, Yuh saves you real money over time.
Yuh offers cryptocurrency trading (Bitcoin, Ethereum, and 30+ others) at 1.00% per trade. Neon doesn't offer crypto at all.
Yuh allows fractional shares, meaning you can invest CHF 25 in a stock that costs CHF 500 per share. Neon requires you to buy whole shares, which limits your options with expensive stocks.
Yuh has a loyalty program (Swissqoins) that rewards you with SWQ tokens for card payments and trades. It's not life-changing (about CHF 20 to 50 per year for active users), but it's something Neon doesn't match.
For investing, Yuh is the better platform overall, especially for international stocks and ETFs. If you're exclusively buying Swiss ETFs at 0% commission, both work equally well.
What about Neon's paid plans?
Neon offers three tiers beyond the free plan: neon plus (CHF 5/month), neon global (CHF 10/month), and neon metal (CHF 15/month or CHF 150/year). The paid plans change the comparison significantly.
Neon plus gives you 2 free ATM withdrawals per month in Switzerland, 0% FX markup on card payments, and priority support. At CHF 60/year, it's worth it if you travel even occasionally, because the 0% FX markup saves you money on every foreign currency transaction.
Neon metal at CHF 150/year includes free ATM withdrawals worldwide, a metal card, phone insurance, extended warranty on electronics, and ticket insurance. If you compare this to Yuh, the value proposition is strong: Yuh has no premium tier, so heavy travelers who want zero-fee everything should look at neon metal seriously.
The question becomes: free Neon vs free Yuh (where Yuh wins on most criteria) or paid Neon vs free Yuh (where Neon's premium plans become very competitive, especially for travel).
Who are the banks behind Neon and Yuh?
Understanding the ownership matters because it affects deposit protection, product direction, and long-term stability.
Neon is an independent Swiss fintech that partners with Hypothekarbank Lenzburg (a FINMA-regulated Swiss bank) for its banking infrastructure. Your money sits at Hypi Lenzburg, not at Neon itself. This means you get full Swiss deposit protection up to CHF 100,000 through esisuisse. Neon processes international transfers through Wise, which gives you competitive exchange rates.
Yuh is a 100% subsidiary of Swissquote, the largest Swiss online broker, with PostFinance as a co-founder. Your account is held at Swissquote Bank SA, a FINMA-regulated Swiss bank. Same CHF 100,000 deposit protection through esisuisse. The Swissquote connection explains why Yuh's investing features are more mature: they're built on Swissquote's trading infrastructure.
Both are equally safe from a regulatory and deposit protection perspective. The difference is strategic: Neon positions itself as a lean, independent alternative. Yuh leverages Swissquote's investing ecosystem.
Expert recommendation
After testing both Neon and Yuh as daily-use accounts, here's my honest take: most people should start with Yuh as their primary neobank.
The free ATM withdrawals, dedicated TWINT, multi-currency account, and fractional investing make it the more complete package at CHF 0 per month. Unless you're a frequent traveler making lots of foreign currency card payments, Yuh covers more use cases out of the box.
That said, I also keep a Neon account. Here's why: Neon's 0.35% FX rate on the free plan (or 0% on paid plans) is unbeatable for travel spending. When I fly somewhere, the Neon card comes out of my wallet. For daily Swiss life, Yuh handles everything.
My recommendation: open both. They're both free. Use Yuh as your main account for salary, bills, TWINT, and investing (for Pillar 3a, you'll need a dedicated provider). Use Neon as your travel card. This combination gives you the best of both worlds and costs you exactly CHF 0 per month.
If you want one single account and nothing else, pick Yuh. If you're a heavy traveler, consider neon plus at CHF 5/month for the 0% FX markup.
Common mistakes when choosing between Neon and Yuh
ATM withdrawals are becoming less relevant in Switzerland. Most spending happens via card or TWINT. Unless you withdraw cash weekly, don't let ATM fees drive your decision. Focus on FX rates and investing costs instead.
Neon plus at CHF 5/month eliminates FX fees on card payments. If you spend more than CHF 1,500 per year in foreign currencies, the 0.35% savings on the free plan already covers the CHF 60 annual cost. Many people pay for neon plus when the free plan would be sufficient, or stick with the free plan when upgrading would save them money.
Neither Neon nor Yuh is a full replacement for a traditional bank yet. You can't get a mortgage, overdraft facility, or physical branch support. Keep a basic account at a traditional bank for these services and use the neobank for daily spending and investing.
The neon vs yuh vs Revolut comparison matters. Revolut offers better FX rates than both (0% on weekdays) and a broader investment universe. The trade-off: Revolut doesn't have a Swiss IBAN, which means eBill, QR-bill payments, and some employer salary transfers won't work. For people who need full Swiss banking integration, Neon and Yuh are the right choices. For pure travel and FX, Revolut wins.
Frequently asked questions
Is Yuh better than Neon?
It depends on your priorities. Yuh is better for ATM withdrawals (4 free/month vs CHF 2.50 each at Neon), multi-currency accounts (13 currencies vs CHF only), fractional investing, and crypto trading. Neon is better for foreign currency card payments (0.35% vs 0.95% FX markup), international transfers via Wise, and budgeting with Spaces. For most Swiss residents who don't travel heavily, Yuh offers more value on the free plan.
Are Neon and Yuh safe?
Yes, both are equally safe. Neon partners with Hypothekarbank Lenzburg and Yuh is a subsidiary of Swissquote Bank SA. Both are FINMA-regulated Swiss banks with deposit protection up to CHF 100,000 through esisuisse. Your money is held at the banking partner, not at the fintech company itself.
Can I use Neon or Yuh as my main bank account?
Yes, both work as primary accounts for everyday banking: salary deposits, bill payments, eBill, TWINT, and card spending. However, neither offers mortgages, overdrafts, or branch services. Consider keeping a basic traditional bank account alongside your neobank for services that require physical banking.
How do Neon and Yuh compare to Revolut in Switzerland?
Revolut beats both on FX rates (0% on weekdays) but lacks a Swiss IBAN, which means no eBill, no QR-bill scanning, and potential issues with salary transfers from Swiss employers. Neon and Yuh are better for full Swiss banking integration. The ideal setup for many people: Yuh or Neon for Swiss banking, Revolut for international spending.
Which neobank is best for investing in Switzerland?
Yuh has the edge for investing. It offers lower fees on international stocks and ETFs (0.50% vs 1.00% at Neon), fractional share trading, and cryptocurrency access. Both charge 0.50% on Swiss stocks and ETFs. For serious investing beyond neobank offerings, consider a dedicated broker like Swissquote or Interactive Brokers.
What to do next
Still undecided? Here's the fastest way to figure this out: think about your last 10 transactions. Were most of them in CHF within Switzerland? Go with Yuh. Were several in euros or abroad? Start with Neon (or open both for free). For a broader look at all Swiss neobanks including Zak, Alpian, and Radicant, check our full neobank comparison. To see how Neon and Yuh stack up against traditional banks, explore our bank account comparison tool.
