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Zurich based Fintech wants to offer the fastest and cheapest bank account in Switzerland

After completing the test phase, Fintech Neon from Zurich has now started its digital account offering. With some free services, the company wants to score points with customers.

Free account

Every new customer gets a free bank card for all services after downloading the app on Google Play or in the Apple App Store. “Our new card has a much higher acceptance worldwide. And above all on the Internet than the previous Maestro card of the beta phase,” says neon co-founder Julius Kirscheneder in a press release from the company.

The new neon card can be used everywhere like a normal card. But all expenses would be debited directly from the account. So that, as a neon customer you always know how much money is still available on the account.

Criticism of the fee model Swiss banks

The Fintech wants to offer with its offer an alternative to the less digital and over-priced Neon information offers of the classical banks. For example, some national banks would charge more than 100 Swiss francs annual fee for a simple bank card account. Neon wants to offer the cheapest account in Switzerland.

Whether the account opening or card blocking, Neon wants to offer the customer more convenience through its digital services. Effort for going to the bank counter, postal correspondence or the use of Tan generators should be eliminated.

In less than ten minutes to the account

In addition, Neon promises the fastest account in Switzerland. “In less than ten minutes, interested parties open up a relationship with us. Everything completely paperless with the smartphone and a simple video identification, until 10 pm even on Saturdays, “says neon founder Simon Youssef.

Payments to Switzerland and the SEPA area (Euro) or standing orders should be able to be executed with just a few clicks. All bank statements, tax statements or debit notes can be generated straight away from the app. Which means banking in Switzerland is going to be really mobile.

Nevertheless, Neon promises that his account will not save on security. The digital account will be protected with all the best electronic mechanisms and subject to Swiss deposit insurance.

Also published on Medium.

Published inFintech

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