Very interesting news: Revolut is getting many “Swiss” features soon:
Die offensichtlichsten Neuerungen: Anstelle einer britischen Kontonummer erhält die Kundschaft neu eine schweizerische Iban-Nummer. Geld einzahlen wird einfacher und günstiger. Es entfallen Gebühren oder komplizierte Umwege über Korrespondenzbanken, wodurch sich ein Revolut-Konto bald auch als Lohnkonto eignet.
Same here I provision few thousands in advance with euros or usd before holidays for a trip abroad.
I plan accordingly. If I don’t have enough exchanged, I simply pay the 1% and be happy anyway. I mostly use it during holidays (so who cares) and when I shop abroad (I save so much that I might not care for 1%).
The last bit is interesting
Stock & ETF trading. I wonder what the fees structure would be like
Dank einer Finma-Bewilligung als lokale «Repräsentanz» kann Revolut (Switzerland) nun das tun, was die Schweizer Aufsichtsbehörde dem britischen Fintech zuvor untersagt hatte: nämlich Kunden aktiv anzuwerben.
I assumed that that was the strategy most people are following.
Lately trying to simplify a lot and reducing banks, cards, etc., so still trying to figure out if Revolut has a place or not. I do like a multi-currency accounts, so neon and radicant become a bit of a tier 2 in that regard. Would love if Yuh would drop their reduce their surcharge.
Interesting, did you buy exactly the same thing at the same time? Since all i’ve seen is that Neon was always slightly more expensive than Revolut.
There are also online calculators (Neon, Revolut) that show that Neon is cheap but not the cheapest. But I don’t know whether the exchange rate for Neon is really accurate.
I only have Revolut, but for this the calculator is correct.
I did, I simply bought Amazon gift cards for 25€ at the same time using different cards on a workday and compared to IBRK market rate at the same time.
radicant was the cheapest (almost at the IBKR rate), but we are talking here a 0.01€ difference for Revolut and Neon added another 0.02€. So let’s say somewhere between 20 - 30 bps, so nothing major in the big picture
Switzerland now officially exists in the country picker: https://www.revolut.com/de-CH/
Revolut Business is still missing in the navigation bar, but time will tell…
https://www.revolut.com/de-CH/joint-accounts/
I’m still waiting.
And still not offering the Plus plan in Switzerland… I hope it will also arrive eventually (but maybe they prefer to keep on milking us rich swiss customers …
)
During these summer vacations I was unpleasantly surprised by how expensive Revolut can be with its monthly limits:
I’m aware you may plan ahead to avoid some unnecessary fees while traveling, but especially the ATM fees will always F you in counties with low card acceptance.
So. What alternatives are out there? I’m hearing about Radicant for the first time now. Any experiences?
Spend your holidays in countries with high card acceptance?
Get your wife a revolut account?
Travel with thousands of EUR/USD in cash?
Pick cheap countries where you can spend a decent holiday and stay below CHF 1250
I know, I am not helping a lot here but the solution might be quite different whether you go to Turkey, Iran, Greenland or Bolivia (all of them are countries with low card acceptance).
I’m currently traveling and all my card transactions are handled through Radicant (rarely Neon when Radicant is unavailable). Fortunately, I don’t require a lot of cash. However, Revolut and Wise offer each 200 CHF per month without any exorbitant ATM fees (just make sure you don‘t make any conversions on the weekend with Revolut). Highly recommended.
My wife and I own 1 Revolut and 1 Wise card each. We provisioned the currency in advance on our cards to avoid the forex penalty on weekend.
It give you 800 withdraw capacity but we use none while travelling to the states. We’ve only pay by card.
Is there a difference? I thoughts both were (Swiss) debit cards, so there shouldn’t be much difference. Or is it Visa vs. Mastercard?
The difference is probably minimal. Radicant is using the interbank exchange rate for currency conversion, which should be slightly better than Neon’s Visa exchange rate.
Very interesting! So, Revolut does have significant number of users in Switzerland and Neon is the only Swiss independent neobank alive!
Revolut just launched Revolut Business 5. It’s not about personal finance, but I thought I’d add it here. If they also officially launch it in Switzerland (it’s not on the website yet, though you can sign up if your business is located in Switzerland), they have a really good offering.
