Yuh neobank [2024]

Banks, Insurances & Third Pillar
1

This is why I use Yuh in addition to Neon. Their Twint works perfectly and the 1% on the private account is a nice plus. I only use Neon for FX.

7 Likes
2

Same here but with Radicant instead of neon. I wonder how much money Yuh actually makes with their exchange fee. Is anybody using them for payments abroad? I don‘t think their target audience is oblivious to FX Fees. I wonder if they would earn more with card kickback and scratching those fees.

3

I wonder how much money Yuh actually makes with their exchange fee. Is anybody using them for payments abroad?

They have multi-currency accounts, so I wouldn’t be surprised if quite a few people made the exchange directly in Yuh instead of moving the money elsewhere, doing the exchange and moving it back.

4

Hi,
I’m wondering, I have a Yuh account and Revolut, are you saying it’s possible to send USD to Yuh from Revolut without any fees? I wanted to try and Revolut wants SWIFT and with shared fees it costs around 5CHF.
So I’m curious how you do it

Thanks in advance
Regards

5

are you saying it’s possible to send USD to Yuh from Revolut without any fees

I have no idea about this specific case. With USD you’re probably limited to SWIFT, so it might not be possible to avoid this transfer fee. But if the amount is big enough, you’ll save a lot more even with this flat fee than by doing the conversion directly in Yuh.

With EUR, you’re probably able to avoid this fee (if not with Revolut, maybe with someone else).

2 Likes
6

Ah ok,
I have VT on Yuh but then I stopped investing there because of fees (you know, beginner mistakes) but if I would find a way to avoid those 0.95% I would start again, shame.
But thanks for answering.

7

Did I miss something?

8

You could buy it a while back, now only those who already have it in their portfolio may buy more.

But IIRC it’s not that big of a loss, as you don’t get WHT back or something.

1 Like
9

Definitely.

10

Yes. Yuh was offering VT from the beginning until like 1 year ago.

1 Like
11

Maybe but I would like USD not EUR :wink:

12

I really only use it for holding money in different currencies and make international payments. Just used them for a EUR SEPA transfer to Germany which worked fine without fees. USD will be 4 CHF. See below.

Bank transfer in Switzerland and Liechtenstein in 13 currencies: Free
SEPA transfer in Europe in EUR: Free
SEPA transfer in Europe in other currencies:4 CHF
No hidden fees and clear pricing | Yuh Swiss Finance App

13

Wrong wording.
SEPA transfers are in EUR only.

They can of course still apply the same differentiation by country for pricing purposes and call it “transfers to SEPA member countries in other currencies” or something. The destination country being a SEPA member state will still make it easier for them to support payments to (for compliance technical reasons (e.g. they must have IBAN beneficiary account numbers).

14

Very good point. Their wording is misleading. But the positive point is that SEPA transfers in Europe are free.

15

I’m wondering, I have a Yuh account and Revolut, are you saying it’s possible to send USD to Yuh from Revolut without any fees? I wanted to try and Revolut wants SWIFT and with shared fees it costs around 5CHF.

I actually done for 1000 usd and Revolut charges me around 4 usd. Even with the fees is still cheaper than exchanging on Yuh directly. And good thing is that the money arrived in like 20 min.

16

And that’s how you get your EUR and other currencies for free, and get rid of all “investments” that you have accumulated at Yuh. Oops, they only waive currency exchange fees, not trading fees!

We’re cutting all exchange fees from midday on 24 June to midday on 1 July
For seven whole days, you can:

  • exchange all 13 pre-installed foreign currencies in the app for free.

  • easily pay abroad with your Yuh debit card without exchange fees.

  • trade in the Yuh app without worrying about conversion costs.

1 Like
17

There’s no fees, but how is the actual exchange rate, is it competitive?

1 Like
18

The exchange rate that Yuh app shows includes all fees. Now it shows me the amount of EUR that I get for CHF almost precisely 0.95% (their fee) below the interbank rates. I remember when they were waiving FX fees one year ago, their rate was very close to the interbank one. It was the best deal to get some foreign currency.

I have to give it to them: Yuh is not tampering with exchange rates.

3 Likes
19

Did a quick check today:
Yuh: 1 CHF = 1.037 Euro
Revolut: 1 CHF = 1.045 Euro

Yuh claims to have 0.95% exchange fee. So if this would not be there i would roughly get 1.047 Euro for 1 CHF at Yuh with todays exchange rates (but without Yuh Fees). Whether this is in reality the case we will see next Monday.

Yeah, that checks out if you take the 1.046 interbank rate. Likely you would get this (not the 1.047 which I did in my quick math attempt).

Nice to see, but currency-wise it is even with this special promotion only barely better than Revolut.

20

The promotion starts on Monday.

Revolut has a half-spread, effectively a fee, of 0.2% on major FX pairs. And I have not found options with lower FX fees. Visa or Mastercard rates have a similar, but unpredictable, markup.