neon free

A smartphone account for CHF 20 per year with free international transfers. Specific trade-offs apply.

The neon free account ranks #25 among Switzerland's 45 private accounts. It's neon's entry-level tier, offering free SEPA and non-SEPA payments through Wise at a minimal CHF 20 annual cost. For a budget smartphone banking option, it covers the essentials with clear limitations.

What Does CHF 20 Per Year Get You?

Account management is free. The CHF 20 annual fee covers your Mastercard Debit card and nothing else. Domestic payments, SEPA transfers, and even non-SEPA international payments are all free (processed through Wise). That's an unusually low cost for a transactional account with global payment capabilities.

The catch is in everyday cash use. Cash withdrawals in Switzerland cost CHF 2 each with no free monthly allowance. Abroad, there's a 1.5% surcharge on top. There's also a 0.35% exchange rate surcharge on foreign currency transactions. Stick to card payments domestically, and the account is genuinely cheap.

What Actually Stands Out

Free international transfers is the differentiator. Both SEPA and non-SEPA payments are processed through Wise at no transfer fee from neon's side. You'll still pay Wise's exchange rate margins, but the transfer itself costs nothing. For someone regularly sending money abroad, this saves CHF 3-5 per transaction compared to most banks.

The minimum age is just 15, making it accessible to teenagers. Hypothekarbank Lenzburg acts as the banking partner, so your deposits are covered by Swiss deposit insurance up to CHF 100,000. You can add neon green (sustainability features) or neon duo (shared account) for CHF 3 per month each.

What Most Reviews Miss

Every cash withdrawal in Switzerland costs CHF 2. There's no free tier, no monthly allowance. If you withdraw cash 4 times a month, that's CHF 96 per year in ATM fees alone, turning your 'CHF 20 account' into a CHF 116 account. Neon free works best when you avoid ATMs entirely.

No paper statements are possible. Tax documents come as PDFs only. Daily spending limits are capped at CHF 2,000 cash, CHF 5,000 online, and CHF 5,000 in stores. The combination of Wise's exchange margins and neon's 0.35% surcharge means international transfers aren't truly at interbank rates either.

The Bottom Line

If you're a card-first, cash-avoidant user who wants cheap international transfers, neon free delivers at CHF 20 per year. Just be realistic about the ATM fees and exchange rate surcharges that can quietly inflate your costs. For the full comparison, check our compare Swiss bank accounts side by side tool.

Verdict: Ultra-cheap for cashless, digital-first banking. Your ATM habits are the make-or-break factor.