I know this is always the quote. But is it actually true? According to the Poor Swiss, Revolut also has a conversion fee:
So, foreign exchange transactions with Revolut are not free anymore. On average, users are reporting about 0.4% surcharge.
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I read the same, when Revolut changed from the real mid-market rate to their ‘Revolut rate’.
That said, just checked tonight on both … tiny advantage for Revolut (USD 0.17) on CHF 500
Actually I am not sure why radicant was launched in first place. But I don’t quite understand why cantonal banks cannot implement new products. Are they always supposed to follow and copy private banks?
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This is sad, I really liked radicant (the interfave, the fees, the EUR account, insurance and twint app). I gues I am fully back in neon, i transfered the money just as I read the news…
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I don’t think that’s a very fair comparison.
The risk is not your life, it’s having some money locked away for a while.
And there are some upsides: you can continue profiting from the benefits they provide (and for some they’re the best out there) until who knows when. I would still have a deep look at how the insurance coverage works out, just to be sure not to be cut at the wrong time.
I wouldn’t do it personally, but for small amounts of money it might be worth it.
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I think of all these small francs struggling on a soon to be dead bank account while they could be happily on an adventure and harvesting with friends.
You’re right it’s not fair, and there might be some upside. The rational thinking of money management is not to have financial partners going bankrupt and think of their advantage though.
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Sudden uptick in neon customers incoming?
Very personal but I would be a neon user, it would be more like “ok, so that’s what to expect of low cost banks or non-bank (in case of neon)”
Or reality check “am I so surprised a free service is not enough to run a company” “am I so smart going the cheapest way thinking I would save a few bucks while I am intelligent-enough to understand a company is not a charity with endless money, and not paying for anything may not be sustainable? Do I want that as a partner to manage my cash?”
but among us there could be a lot of “let’s take advantage of this special offer until it crashes and go for the next one afterwards, who cares, if I save money”.
And then there’s credit suisse of course. Best of two worlds.
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A post was merged into an existing topic: Overview: Best CHF Rates (insured up to 100k)
Does anyone know if there’s an inbuilt option in the app to close the account? Didn’t find anything at first glance.
Didn’t find as well, so I just emptied it and will wait for the shutdown to actually delete it I guess.
Well first of all the “real” management of assets is done by Hypothekarbank Lenzburg; neon is basically a frontend.
But even if it was done by neon, burning through cash to build a product and simultaneously a userbase in the hopes to someday make a profit is a very popular business model nowadays, and I don’t see it as a red flag.
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I received this week a mail about change in fees, i just wrote an email to the support saying that i don’t agree with the chnage and to close my account.
They asked for an Iban to transfer my fund to and once i wrote back they closed my account.
Quite easy, it took like 3 email and a day or two.
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Did you email the support, or the “suport”* according to their email? 
* The typo is only in the German version of their website; in the English version they have it correct (support@radicant.com). I wonder whether it reaches its destination anyway.
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Just in:
The free travel insurance expires this year. Any insurance cases in the new year are not insured, even if paid before the new year.
They offer 25% discount with code radicant25 on https://online-services.europ-assistance.ch/de
meh
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And of course I already booked all my trip next year with them because of that (too)..sh*t!
When did you get this news? Still nothing on my side after asking some days ago.
Edit: anyone knows a good travel insurance for family, out of Europe? Thx
This is not fair and could even be illegal.
They could say: from now all the payments made using Radicant aren’t covered by the Travel Insurance. Fair.
But retroactively making the insurance void for payment happened in the past is super fishy…
Yes, it should definitely be illegal. And now we can’t do anything because we already paid with this card. Just to find a costly solution to cover our trip.
I would be curious to hear some jurist or so if there is one here..
I’m not a lawyer, but am pretty sure that this won’t fly if you challenge them.
I didnt get access to the detailed documents (all wiped from their website) but to the overall description of the insurance (via waybackmachine).
It also makes no sense to me because the insurance was not with them but Europ Assistance, which are still up and running and which they claim you should go now and buy another insurance.
Definitely don’t get another insurance from Europ with the 25%, that seems hilarious in that situation.
