Savings, investment, 3rd pillar… Find your way through the abundant offerings of neobanks

Published on November 24, 2024 at 8:14 p.m. / Modified on November 24, 2024 at 8:16 p.m.

In recent months, Revolut has strengthened its presence in Switzerland with the opening of physical offices in Zurich and new investment services. Having just announced that it has exceeded 50 million customers worldwide, the British neobank intends to convince the 900,000 users it claims in Switzerland to increase their use of their Revolut account on a daily basis. A strategy which should strengthen competition in a sector where competing players seek to reach a critical mass of customers to compensate for the removal of fees on certain services.

According to a study by the University of Lucerne (HSLU), around a million Swiss have an account with a digital bank but only 1.3% of the population uses it as their main account. On the Swiss market, neobanks have multiplied in recent years but in this ever-increasing offer, it can be difficult to choose the one that best suits everyone’s uses. If they have a common promise: They all promise less expensive services than traditional banks, but each has specific features to stand out. Non-exhaustive overview of the advantages and disadvantages of each.

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