I have heard that REVOLUT wants to start being a BANK in CH. Not sure what difference would it make as we already have a lot of Digital banks in Switzerland
I have to say though, I am getting a bit worried about Revolut reading these articles
here
Here
It really makes sense for them to try it, I think they have like 250k customers in CH, without even doing large offline/online marketing campaign (probably because they can’t if not finma approved).
I’d guess most neo banks have less customers?
Most people in CH use them as wallet due to forex. But I don’t really see many advantages for CH residents to use them as a bank.
Only advantage would be forex.
This. But since Neon, Radicant etc. have been around, this is no longer a unique selling point of Revolut. I could imagine that Revolut will therefore be “forced” (from a marketing perspective) to submit to FINMA. Only then will Revolut be able to compete with the other Swiss providers again.
Revolut is still clearly cheaper in Fx than Neon currently (*during the week). Radicant is more competitive.
Overall I would be excited to see Revolut bringing some new wind into the market. Right now Radicant seems to be the ‘best deal’ but since they are not that popular, the competition pressure on the others (Neon, Yuh,…) is limited.
What I mean is that they can leverage a large user base to provide other services (potentially with higher margin).
I think they offer trading in some places for example.
I think Revolut is in weird legal position in Switzerland. You can open an account as a swiss resident but if you go on their website, you can’t select Switzerland as a country.
Also all the insurances offered in other countries with a paid plan are not offered for Swiss resident.
Currently, Revolut uses Credit Suisse if you want to add money on your account. Not sure if UBS wants to continue this deal.
It’s because it’s an e-Wallet in Switzerland & not a bank account. For time being it doesn’t have any guarantees of funds
In UK and some other EU countries, Revolut is a bank like NEON.
Sure. But I think we’re in an absolute bubble here. The average user looks at such things:
| Revolut | Neon | Radicant | Classic bank | |
|---|---|---|---|---|
| No extreme fees abroad |  |
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|
 it depends |
| No monthly fees | |
|
|
it depends |
| Swiss IBAN (“real bank”) |  |
|
|
|
| Swiss company, FINMA regulated | |
|
|
|
Revolut is often no longer the first choice. At least in my circle. I am convinced that Revolut does not want to be regulated by FINMA, but must be so that it remains competitive.
Why would there be any deals between CS and Revolut though?
Revolut simply has an account with CS (like any other financial institution could), and they must pull the data through an API to credit your account swiftly.
Since UBS supports bLink, it should not be a huge hassle for them to continue with this top up method.
Not on the technical side, but on the commercial side. Revolut is a competitor to UBS in multiple services
-Prepaid credit card
-Bank account
-Investment
The strategy at UBS and CS can be different.
I think Switzerland is still missing a bank which is competitive in forex and has multi-currency accounts. Neon and Radicant do not offer them, Yuh offers them, but is not competitive rate wise. Zak has neither.
Alpian I believe has both, but is not free (or has it changed recently?) and from the reviews I have seen sounds pretty bare-bones for day-to-day banking.
No idea if it’s big enough of a market, but there are loads of EU citizens here for whom a EUR account and being able to convert money without a roundtrip to another bank would be useful.
People also forget that Revolut has more to offer.
This part I absolutely love about it, used and recommended it to others multiple times 
Exactly, in essence they just partnered with 1GLOBAL for eSIM, but it’s integrated into Revolut, so you don’t have to download a second app, do KYC, top up, …
There do exist other eSim providers that might be cheaper, but Revolut is more convenient.
Question to all, how are you dealing with the additional 1% surcharge on Revolut on the weekends. During the week, the rate seem relatively competitive (even if in personal testing a bit worse than Neon or radicant). Revolut quotes it as “Our rate (including fees) is at the moment 0.16% worse than the reference rate of the ECB”.
However, with the 1% surcharge on the weekends it even becomes worse than Yuh with it’s 0.95% surcharge.
A combination of:
In my case I don’t spend too much money outside CH except for vacations. So I just convert on weekdays
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.
