New banking setup [2022]


  • very close to revolut rates abroad ++
  • ApplePay supported ++
  • free cash withdrawal from anywhere + (who needs cash these days??)
  • online, easy, everything works, support is friendly and relatively quick (~24hrs) +
  • no netbanking (mobile only) –
  • eBill supported +
  • TWINT limited to low amounts (monthly 500CHF via UBS App) or prepaid
  • prepaid mastercard - (for free though +)
  • no partner card (but you can add your neon card to her wallet :wink: )


  • Debit Mastercard +
  • Joint account possible +
  • netbank is quite alright +
  • no spend categorization and budgeting engine —
  • fees keep increasing - but are still low + (5CHF I think)
  • offices and ATMs everywhere for cash +


  • “free offer” from CS +
    (- CS scandals and moral values --)
  • joint accounts - not sure?
  • Twint - yes +
  • mastercard debit +
  • native mobile app + webbank from CS +
  • ATMs and offices everywhere +
  • rates abroad suck -

Still convenient when you go out only with your (UBS) Mastercard. Running joke for those who got the reference :wink:. For all the others :

Problem appears at PostFinance. Always carry multiple cards.

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I assume any Mustachian would use the custom comparison option :). The preprogrammed templates are for average consumers.

As far as out-of-network ATMs and paper statements, many (smaller) banks which do not charge any extra for these. It’s almost exclusively the big banks which charge for those things. For people who need/want those things, there are plenty of mustachian options. For example, unlike UBS, Credit Suisse, Postfinance, and their lot, my (regional) bank does not charge a thing for out-of-network withdrawals in Switzerland, paper documents, or orders placed at the counter or by phone/mail.

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Migros Bank + Migros Cumulus Credit Card. They tick lots of your boxes.
Zero fees. Me and my partner have 1 account each plus 1 for our common transactions (Apartment deposit included).

I read somewhere that Migros bank requires another device (that can’t be Linux) for ebanking 2FA, so you basically need to keep a second phone or tablet around just for the 2FA token. It’s hard to believe but ridiculously impractical if true. Can you confirm?

Yes, same as several other banks I know (like for example Fineco and Unicredit in Italy). For Migros Bank I use my computer and my phone for code confirmation, but only for the first activation. For me it’s fine: in the end this is just a detail compared to the advantages I have found at Migros Bank (0 fees on bank account, 0 exchange fee with Migros Cumulus CC card plus 1% cashback etc etc).

I just can’t get my head around why Migros Bank charges 0.2 CHF per incoming transaction. Otherwise, Migros Bank does look appealing.

Meaning when you get a incoming wire transfer you’ll get charged 0,2 chf? Is it even from Switzerland - which is bizarre, think of salary payments - or just for cross border payments? In what statement do you see this amount?

You have to download an additional PDF that contains all the relevant information regarding fees. It’s available on their website.

I understand it from that document that every incoming transfer is charged. In German it refers to “Buchung Eingang via Zahlungsverkehr” for the CHF 0.2.

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Just so OP @boschika is aware of it, Migrosbank offers ebanking only in languages D-F-I, no E.
Otherwise I can confirm that Migrosbank is a good deal (I have my main accounts there).

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I have checked my “end of year” statement for 2021: fees for all incoming transaction of the year was 12,40 chf.
I think I can make it.

It’s not that bad the migrosbank 0.2chf fee, imho. Most of the people get just 1 incoming payment, so it’s still better than any other fee.

I’ve heard that migros is migrating away from the old app, so maybe in the future it will not be needed the 2 platforms thingie.

Also Migros is one of the banks that asks > 10chf for closing an account. I think that “mr price” said it’s sort of illegal though.

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Maybe try Valiant. Reasonable prices, good service so far.

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On this topic, other banks do not charge you for closing per se, but would charge you if they have to wire money to another bank or, often in case of savings accounts, charge you if you did not give proper notice.

Keep in mind to:

  • Wire yourself any remaining balance before initiating the business relationship closure.
  • Give proper notice, if applicable.

Is this 0.20 per transfer like a salary payment or is it also for things like if you sold something on Ricardo/tutti and someone sends you the payment with your IBAN, or your health insurance refunds you for a doctor that doesn’t do direct billing, etc? I receive lots of payments per year and if its 0.20 for each, it wouldn’t make sense. And the “must have two devices” thing also really bothers me, it sounds so impractical(and poorly thought out)

sorry, can’t be bothered to check every single movement. we are talking about 12 chf a year, not worth my time. Good luck with your single-device bank.

I have checked how much fees they charge. Got this:

The Trend Set Family with Lila Plus suits you

They prefer to do their banking online, which saves them time and money. At the same time, as a couple or family, you get everything you need for your banking transactions. With the Lila Plus you also secure a credit card and withdraw money worldwide free of charge.

|Trend Set Family with discount*|CHF 12.00 per month|
|Purple Plus with discount*|CHF 4.00 per month|

Trend Set Family with Lila Plus CHF 16.00 per month

Quite expensive, more than UBS.

I wonder what their target customer segment would be… :thinking:

And there is no E-Bill which is a big minus point…

EBill is supported in Neon.