In my previous (Post 5), I researched which Swiss bank is the best for foreigners. From the bank overview, we learned that there are national banks of special importance, from the Too Big to Fail (Post 3) list. There are private banks useful for private wealth preservation, there are popular banks, and also internet banks. It was time to test the theory in practice and hit the streets of Switzerland, this time in Lucerne! We asked passers-by which bank they prefer to keep their money from and why that banks attract them.
https://youtu.be/bZBhd39NPwI
Among those surveyed, we certainly heard such giants as UBS and Credit Suisse (distinguished by unexpected negative experiences from ordinary users), small but quite famous local banks Valiant Bank, and Kantonalbank Luzern. We have already talked about these banks and practice has confirmed the theory.
Curious, however, an Internet bank called Neon which is little mentioned in the press, but is apparently gaining in popularity among the people in Switzerland. A young man spoke enthusiastically about his banking preference, then I wanted to research and tell you more about that bank.
It turns out that Neon is a digital bank that has no offices. Actually, it is not a bank per se, but a digital platform operated by Hypothekarbank Lenzburg, which has a banking license. Neon is covered by deposit insurance (up to CHF 100’000). When you become a Neon user, you get a German account in euros. You can fund your account by transfer.
As with all digital banks, you can only manage your money from your phone. Together with a bank account, Neon offers you a Mastercard debit card, which you can use for payments.
Like all banks in Switzerland, it also charges a monthly fee of around 10 CHF.
Overall, I understand the trend of banks going online and the growing popularity of such banks among young people.
And how do you feel about online banks? Do you trust digital or do you still prefer going to bank offices the old-fashioned way?
Leave your comments below!
To learn more, visit my previous posts:
Why has Switzerland became an island of financial paradise?
How to open an account in a Swiss Bank? Part 1
How to open an account in a Swiss Bank? Part 2
What Swiss know about money: Where does the money come from? – Street Survey.
Which Swiss Bank is the best one?
The Secret of Negative Interest: Why millionaires keep their money in Swiss Banks?
