Credit card for EUR transactions -> Neon/Revolut or bank in eurozone?

Low. 100€, 500€ or 1000€ - unless you receive your salary in the account.

You can raise the spending limit by transferring from the bank account to the credit card account though. Positive balances on the credit card account used to earn interest at quite competitive rates, but of course zero or close to zero like everywhere lately.

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That’s my “clever” setup too for euro-land for a few years. :wink: I’ve also been thinking maybe it’s time to move on to something simpler.

It’s a “full cc” yes, but not useful for guarantees, my credit limit is so low (€100) at DKB that it’s usually too complicated to use at hotel check-in (I’d have to top up credit first). I use a non-related swiss cc at check-in and pay with the DKB Vpay debit card at checkout. Do you have a decent credit limit, or always have it well topped up?

I think they generously gave me a credit limit of 0 EUR, not even sure. It’s very low in any case. My “solution” for that has been to stash much more into the DKB account than I need 99% of the time, just to have a decent credit limit when I need it. I forgot last Christmas and had to scramble a TransferWise transaction so I could use the card at the hotel. That’s a big reason I want to simplify, I don’t want to check and top-up too many accounts I barely use.

If you want a full EUR credit card you could also check out N26 and maybe Comdirect. N26 accepts Swiss residents for sure, Comdirect I don’t know. They all should be free, but the precise conditions differ, also for non-EUR things, should that interest you as well. DKB wants 700 EUR income per month to unlock the full benefits, like free cash withdrawals.

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On the topic of credit limits for the DKB cards, I have spent high 4 digit amounts in one go and have a 100Eur limit. Top it up - during working days the transfer from Transferwise to DKB is under a minute and within the DKB app from checking acc to credit card its seconds. During off hours, simply have the amount you expect to spend on the DKB checking acc ready, no need to pre-load and have it sitting on the CC if that makes you uneasy (CC in credit is still protected against loss/theft etc).

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From where to DKB? From a CHF bank account in Switzerland? From my transfer at Migros Bank it takes 1-2 days for it to appear in my DKB. This was last time I was actually “waiting” for the money to arrive, maybe a year or so ago. I usually try to transfer with no time pressure, so don’t pay exact attention to the transfer duration, but within a minute or so is eye-opening.

DKB supports incoming SEPA Instant Credit Transfer from account that support the scheme (such as TransferWise). As far as I know, no Swiss banks are participating in the scheme (even though virtually every does take part in the standard SEPA EUR payment scheme).

You might be faster using TransferWise as a middleman (domestic Swiss CHF transfer to TransferWise, do the currency exchange there, then send to DKB as SEPA Instant) than transferring from a Swiss bank directly.

Ah, sorry, I was speaking of and do use Transferwise as the middle-man (for currency exchange CHF to EUR). I’ll investigate the SEPA instant credit transfer thingie, thanks for the tip.

Pretty straightforward: from a customer’s perspective, they work just the same as standard SEPA transfers (using IBAN) in EUR - only faster, though with lower maximum amounts (several thousands still) and less participating banks.

Many banks offer them „transparently“ for free, i.e. it gets automatically sent as an Instant transfer if supported by both banks. Some banks charge for the privilege though - I suppose you‘d then have to choose which scheme to use.

With Neon, you have the option of sonect to withdraw money for free. (they are expanding in Europe).

But I have not try myself (going to sign in today, so I will let you know my experience)

I’ve tried it last summer, it’s quite simple but I think that most of the point of withdrawal doesn’t remember they have this option and they are sometimes surprise when you ask to withdraw. Unless this point, it’s works !

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That’s interesting. I am going to try Neon as well, waiting for the account to be opened. But I will try credit card payments and payments within Switzerland first. I seldom use cash. Still good to have the option for free cash withdrawal.

SEPA instant transfer is interesting, too. But doesn’t change the main drawback of the TransferWise/DKB set-up: It’s still manual, cumbersome. And a bit more expensive than Neon/Yapeal or full TransferWise.

Put 4k CHF on my Neon account for this weekend. Will have to pay something for 3.5k EUR on Saturday. I think I’lt get a significantly better rate than Revolut.

Let us know how it goes!

In my case I have some EUR to spend, so I used a EUR CC with a EUR 6’000 credit limit that know I will have to start paying since I’m switching jobs. So I’ll look into DKB. If I can preload it, then it’s like Revolut only that it’s a real CC and then I tend to trust them more that Revolut with a few thousands.

So lets recap. I used both cards and sometimes just Neon and combared it to Revolut rates.

Today I bought 4 packs of meds, paid 2 each with Revolut and Neon for 412 Turkish Lira. Neon charged me 44.42 CHF and Revolut charged me 45.32 CHF (+2.03%). When I paid the operation for 3500€, Neon charged me 3’748.15 CHF. Revolut would have charged me 3’781.75 CHF (+0.896%).

I think I’m sold. It’s a Swiss bank, you have the 100k Einlegerschutz, you get a real CH IBAN and even Ebill support. And most important: better exchange rates.

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The lira is pretty extreme though :slight_smile: isn’t it one of the most volatile currency? (which is why there’s a 1% markup from revolut, it’s documented)

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I guess it would be similiar with Baht from Thailand? But I’m surprised too. The difference of 1-2% is significant!

“Today”.

Keep in mind that Mastercard uses daily rates, not live rates. I don’t mean Neon specifically, but you wouldn’t be the first payment card holder that gets show provisional exchange rates in-app - only for them to be adjusted according to official rates when/after the transaction is settled.

Please report back if there’s any adjustments until payment has cleared and been debited from your account.

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I will, it should be settled by tomorrow. Let’s see how it changes. Will report back.

Transactions got settled now. 44.42 CHF and 3’748.15 CHF, so still the same.

Neon is f…ing great :smiley:

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Were those transactions all on a weekend? Or did you pre-exchange money to TRY before your trip? Revolut is known to have bad exchange rates on the weekend.

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