neon free
neon
Overall Rating
Account Mgmt
No fee
Interest Rate
0.00%
Currency
CHF
Our Take on neon free
A smartphone account for CHF 20 per year with free international transfers. Specific trade-offs apply.
The neon free account ranks #16 among Switzerland's 46 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.
Pros
- No minimum deposit required
- Modern mobile and online banking
- Free SEPA payments
- Contactless payment enabled
Cons
- Annual debit card fee of CHF 20
- Age restriction: From age 15
Account Details
At a Glance
Account Mgmt
No fee
Interest Rate
0.00%
Debit Card Fee
CHF 20/year
Currency
CHF
Fees & Costs
Fees & Costs
Account Opening Fee
No fee
Account Mgmt
No fee
Debit Card Fee
CHF 20/year
Cash Withdrawal (Switzerland)
Per withdrawal
Outgoing Payment (CH)
No fee
SEPA Payment
No fee
Non-SEPA Payment Abroad
No fee
Banking Features
Banking Features
Mobile Banking
Available
Online Banking
Available
Debit Card Options
Key Features
- Free account management
- Mobile banking available
- Online banking available
- Debit Mastercard included
- Contactless payment enabled
- Low minimum deposit requirement
Age Requirement
From age 15
Withdrawal Terms
Withdrawal Terms
Account Closure
Free of charge
Additional Information
Additional Information
- Managed via smartphone app
- Online statements only (no paper)
- 1.5% surcharge on foreign currencies
Calculate Your Annual Cost
Annual cost breakdown:
Total Annual Cost
CHF 20
Rating by Category
Compare to Similar Accounts
Frequently Asked Questions
- What does it cost to pull cash abroad with Neon Free?
- A 1.5% surcharge on the withdrawn amount, with no fixed CHF fee from the bank. On a CHF 200 ATM withdrawal in Bangkok, that's CHF 3 in surcharge. Cheaper than the typical CHF 5 fixed fee at cantonal banks for small withdrawals; pricier on big ones. Neon Metal removes this entirely.
- What's the FX surcharge on Neon Free?
- 0.35% on foreign-currency conversions, applied on top of the Mastercard interbank rate. That's tiny versus the typical 1.5-2% on cantonal-bank debit cards. Card payments abroad have no extra surcharge. ATM withdrawals abroad still cost an extra 1.5%, so use the card for paying, not for cash.
- Can a 15-year-old open Neon Free?
- Yes, age 15 minimum. That's one of the lowest entry points in our private-account database, alongside Bank Cler Zak and TKB at 12. For parents looking to give a teenager a smartphone-first card with a real IBAN and free SEPA payments, Neon Free is one of the cleanest fits.
- Are SEPA and non-SEPA payments free on Neon Free?
- Yes, both via Wise, with Wise's spread baked into the rate. There's no per-transfer bank fee from Neon. That's a structural advantage over most Swiss accounts, which charge CHF 0.30-6 per SEPA payment. If you regularly send money inside the EU or to the UK, this alone is worth Neon over a cantonal bank.
How We Rated This Account
Wondering why neon free got its score? We rate Private Accounts accounts using a weighted formula. Here's what counts.
Same formula for every account in this category. No exceptions.
Ready to Open?
Open the neon free today and start enjoying its benefits.