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Top Swiss Banks: Alternatives to Credit Suisse and UBS

Discover Swiss Banks you can switch to after the Credit Suisse -> UBS merger

Following the 2023 acquisition of Credit Suisse by UBS, many account holders are facing mandatory conversions to UBS platforms, prompting a search for alternatives.
This report evaluates Swiss banks that offer low fees, robust mobile banking, and a Swiss IBAN as core features, with a preference for innovative neo-banks while also considering reliable traditional options. Based on comprehensive analysis of fees, user features, and digital capabilities, we recommend Neon as the top neo-bank choice for its zero account fees, intuitive mobile app, and minimal transaction costs.
For those preferring a traditional setup, Migros Bank stands out for its completely free services and solid digital integration.

These recommendations prioritize cost efficiency and modern banking needs, drawing from 2025 market data.

Introduction

The merger of Credit Suisse and UBS has streamlined Switzerland's banking sector but raised concerns for customers seeking alternatives to UBS's potentially higher fees and less flexible services. As of September 2025, Swiss residents have access to a vibrant ecosystem of neo-banks (digital-first institutions) and traditional banks, many offering free or low-cost accounts with mobile apps for seamless management. Key criteria for this evaluation include:

  • Low Fees: Minimal or zero charges for account maintenance, cards, ATM withdrawals, and foreign transactions.
  • Mobile Banking: User-friendly apps with features like push notifications, digital payments (e.g., Apple Pay, TWINT), and account overviews.
  • Swiss IBAN: Essential for local transactions, salary deposits, and SEPA compatibility.
  • Additional Perks: Multi-currency support, interest on balances, and ease of switching.

This report reviews top options, compares them, and provides a final recommendation to inform a full article on Swiss banking alternatives.

Overview of Swiss Banking Options

Switzerland boasts over 200 banks, but for low-fee, digital-savvy users avoiding UBS, the focus is on neo-banks like Neon, Yuh, and Radicant, which operate primarily via apps and partner with licensed banks for depositor protection (up to CHF 100,000). These are ideal for tech-forward users but may lack physical branches. Traditional banks, such as Migros Bank, Raiffeisen, and Bank WIR, offer similar digital tools with the added security of established networks, often at comparable or lower costs. Neo-banks have proliferated since 2020, with 16 available in Switzerland by mid-2025, all providing Swiss IBANs unlike foreign competitors like Revolut or Wise. Traditional banks remain competitive, with some like Bank WIR outperforming neo-banks in cost studies.

Detailed Reviews of Top Alternatives

We selected five strong contenders based on 2025 reviews: three neo-banks (Neon, Yuh, Radicant) and two traditional (Migros Bank, Bank WIR). All provide Swiss IBANs, mobile apps, and low fees, with depositor protection unless noted.

Neo-Banks

Neon

A pioneer in Swiss digital banking, Neon partners with Hypothekarbank Lenzburg for full banking services. It's app-only, with no branches.

  • Fees: Free basic account (Neon Free); optional upgrades (Neon Plus: CHF 2/month for extra free withdrawals). Debit Mastercard: CHF 20 one-time delivery (plastic). Withdrawals: CHF 2.50 each (2-5 free/month on paid plans). Foreign transactions: Interbank rates + low markup (0-1.5%).
  • Mobile Features: Excellent app with Apple Pay, Google Pay, TWINT, eBill, push notifications, "Spaces" for budgeting, and joint accounts. Instant transfers and card freezing.
  • Pros: Highly rated for simplicity; free for everyday use; multi-currency support. Ideal as a primary or secondary bank.
  • Cons: Small delivery fee for physical card; no interest on basic balances.
  • Suitability: Perfect for mobile-first users seeking a "cool" neo-bank experience.

Yuh (by PostFinance)

Launched by the Swiss Post, Yuh combines neo-bank agility with government-backed reliability.

  • Fees: Free account; free Debit Mastercard. Withdrawals: 1 free/week, then CHF 4.90. Foreign: Low markups (0.95% for non-CHF).
  • Mobile Features: App supports Apple Pay, Google Pay, TWINT, eBill, "Spaces" for projects, and virtual cards. Push notifications and fast transfers.
  • Pros: No hidden fees; earns high user praise (8.6/10 in reviews); multi-currency wallet.
  • Cons: Withdrawal limits may add up for heavy cash users.
  • Suitability: Great for those wanting neo-bank vibes with a trusted parent company.

Radicant

A sustainability-focused neo-bank, emphasizing eco-friendly investments.

  • Fees: Free account; Visa Debit: CHF 15 delivery. Withdrawals: 12 free/year, then CHF 2. Foreign: 0.1% markup for EUR.
  • Mobile Features: Apple Pay, Google Pay, TWINT, eBill, sub-accounts, and push notifications. Investment tools integrated.
  • Pros: Cheapest neo-bank in cost studies (CHF 8.80-18.80 annual for average use); pays 0.1% interest.
  • Cons: Fewer payment integrations than rivals; sustainability focus may not appeal to all.
  • Suitability: Ideal for eco-conscious users wanting low costs.

Traditional Banks

Migros Bank

Owned by the Migros cooperative, it offers branch access alongside digital tools.

  • Fees: Completely free account and Debit Mastercard; free withdrawals at own ATMs. Foreign: Competitive rates (1-1.5% markup).
  • Mobile Features: Strong app with TWINT, eBill, notifications, and online transfers. Supports Apple/Google Pay.
  • Pros: 100% free with big-bank benefits; reliable for everyday banking.
  • Cons: Less "cool" than neo-banks; app may feel less innovative.
  • Suitability: For users wanting tradition without fees.

Yuh (by PostFinance)

Launched by the Swiss Post, Yuh combines neo-bank agility with government-backed reliability.

  • Fees: Free account; free Debit Mastercard. Withdrawals: 1 free/week, then CHF 4.90. Foreign: Low markups (0.95% for non-CHF).
  • Mobile Features: App supports Apple Pay, Google Pay, TWINT, eBill, "Spaces" for projects, and virtual cards. Push notifications and fast transfers.
  • Pros: No hidden fees; earns high user praise (8.6/10 in reviews); multi-currency wallet.
  • Cons: Withdrawal limits may add up for heavy cash users.
  • Suitability: Great for those wanting neo-bank vibes with a trusted parent company.

Radicant

A sustainability-focused neo-bank, emphasizing eco-friendly investments.

  • Fees: Free account; Visa Debit: CHF 15 delivery. Withdrawals: 12 free/year, then CHF 2. Foreign: 0.1% markup for EUR.
  • Mobile Features: Apple Pay, Google Pay, TWINT, eBill, sub-accounts, and push notifications. Investment tools integrated.
  • Pros: Cheapest neo-bank in cost studies (CHF 8.80-18.80 annual for average use); pays 0.1% interest.
  • Cons: Fewer payment integrations than rivals; sustainability focus may not appeal to all.
  • Suitability: Ideal for eco-conscious users wanting low costs.

Comparison Table

Bank Type Account Fee Card Fee (One-Time/Annual) Withdrawal Fees (CHF) Foreign Tx Markup Mobile Features (Key) Interest on Balance
Neon Neo Free 20 (delivery) / 0 2.50 each (limited free on plans) 0-1.5% Apple Pay, TWINT, Spaces No (basic)
Yuh Neo Free 0 / 0 4.90 after 1/week 0.95% Apple Pay, TWINT, Spaces No
Radicant Neo Free 15 (delivery) / 0 2 after 12/year 0.1% (EUR) Apple Pay, TWINT, Sub-accounts 0.1%
Migros Bank Traditional Free 0 / 0 Free at own ATMs 1-1.5% TWINT, eBill, Notifications Varies
Bank WIR Traditional Free 0 / 0 Free at own ATMs 0.1% Notifications, Transfers Yes (up to 0.25%)

Switching away from UBS in 2025

The best Swiss alternatives (with a freelancer slant)

Bottom line up front (TL;DR):

  • Best everyday “neo” pick (private use): neon. Free account, Swiss IBAN, great app, card purchases at Mastercard FX with no markup, supports eBill and TWINT (via the neon TWINT app). Caveat: private only (not for business use). (Neon)

  • Best all-in-one “money app” (private use, investing + multi-currency): Yuh. Free Swiss IBAN, TWINT + eBill built in, simple investing/crypto; FX card fee up to 0.95%. Caveat: not for professional use. (yuh.com - EN)

  • Best branch-backed app account: Zak (Bank Cler). Modern app, Swiss IBAN, now with TWINT and eBill; backed by Bank Cler/BSKB group. Good if you want a phone-first account backed by a traditional bank brand. (App Store – Bank Cler Zak)

  • Best “serious” business banking for freelancers (Einzelfirma/GmbH): PostFinance Business. Solid e-finance, eBill, cards, acquiring; new founders can get a business account free for the first two years (promo). Private packages start at CHF 10/month with ways to reduce to CHF 5. Great acceptance and Swiss-Post cash handling. (PostFinance – Start-up package)

  • Best Swiss neo for business (especially if you invoice abroad): Relio. Swiss IBAN, compliance-friendly SME focus, built for online businesses and cross-border needs (fully digital onboarding). Pricing is clear and online. Consider it if you want a startup-style business bank that’s actually Swiss. (Relio)

  • Rock-solid cantonal fallback (Zurich residents): Zürcher Kantonalbank (ZKB). Top-tier app, full services, explicit state guarantee from the Canton of Zurich (unique security angle). Availability is canton-tied, but for Zurich it’s a premium “safe” choice. (Zürcher Kantonalbank)

Safety note: Swiss depositor protection covers up to CHF 100,000 per client per bank. For app-only banks that park deposits at a licensed partner (e.g., neon at Hypothekarbank Lenzburg), that coverage applies at the partner bank. (esisuisse – Swiss deposit insurance)

How I ranked the options

  • Must-haves: Swiss IBAN, mobile app that’s actually good, eBill (for bills & invoices) and TWINT support, decent FX and ATM costs, and clear pricing.
  • Freelancer extras: business-account availability, card for online tools, multi-currency/payments, exports for accounting, and easy merchant/PSP integrations.

Shortlist

who fits what

neon (private)

— the “everyday Swiss neo” that’s cheap abroad

  • Why it’s great:

    • CHF 0 monthly account fee; Swiss IBAN; slick app.
    • Card purchases abroad at Mastercard’s rate with no markup (that’s rare in CH).
    • eBill supported (QR and eBill right in the app).
    • TWINT works via the dedicated neon TWINT app.

  • Costs to know:

    • Cash withdrawals in CH typically carry a small fixed fee (neon lists cash-withdrawal pricing on its Fees page). If you need lots of cash, a traditional bank may be cheaper overall.

  • Freelancer caveat: neon is for private use only (T&Cs explicitly say no business use). Keep it for your personal spending; pick a business account elsewhere.

  • Who it’s for: Private day-to-day banking with frequent foreign card spend (travel, SaaS subscriptions, ads) at excellent FX.

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Screenshot 2025-09-05 at 12-58-08 Yuh Finance App Free all-in-one online account.png

Yuh (private)

— Swiss IBAN + investing + multi-currency in one place

  • Why it’s great:

    • Free Swiss IBAN, TWINT and eBill built in; invest and hold multiple currencies alongside your cash.
    • Coverage and custody under Swissquote/PostFinance ecosystem; transparent in-app fees page.

  • Costs to know: Card FX adds up to 0.95% on foreign currency transactions; if you spend a lot abroad, neon is cheaper for card payments.

  • Freelancer caveat: Not for professional use (their FAQ is explicit).

  • Who it’s for: Private users who want an “all-in-one” app with investing and don’t mind a modest FX fee.

Zak (Bank Cler)

— branch-backed, app-first with TWINT/eBill

  • Why it’s great:

    • Swiss IBAN, modern app, eBill support, and now TWINT as well.
    • Backed by Bank Cler (BSKB group), which some prefer over a pure fintech.

  • Costs to know: Day-to-day is competitively priced; specific ATM and card-abroad fees apply (check Cler/Zak fee schedules before heavy cash usage or travel-spend patterns).

  • Freelancer caveat: Like most mobile private accounts, Zak is positioned for personal use; check with Cler if you intend to use it for a registered business.

Screenshot 2025-09-05 at 13-00-36 Bank Cler Zak im App Store.png
Screenshot 2025-09-05 at 13-03-02 Next generation banking and investing - For you and our world - radicant.png

radicant

— new digital Swiss bank with a sustainability angle

  • Why it’s interesting: Swiss digital bank (by BLKB group) with a clean app, Swiss IBAN, and payments/investing features; pitched at a younger, mobile-first crowd. If you want “new Swiss bank” but not a wallet-only app, radicant is one to watch.

  • Caveat: Focus is private banking; business functionality is limited today.

PostFinance (business + private)

— battle-tested and freelancer-friendly

  • Why it’s great for freelancers:

    • Wide acceptance, strong e-finance, eBill, cards and merchant solutions; integrating TWINT for your own shop is easy via PSPs.
    • New founders (sole proprietorship) can get a business account free for the first two years via PostFinance’s startup-promo. (sole proprietorship)
    • Private banking packages start at CHF 10/month (SmartPlus) with ways to reduce to CHF 5 if you bundle or hold invested assets.

  • Who it’s for: If you want straightforward Swiss business banking with great reach (and cash services at Swiss Post counters), this is a very pragmatic choice.

Screenshot 2025-09-05 at 13-08-39 PostFinance for private customers.png
Screenshot 2025-09-05 at 13-10-28 Homepage.png

Relio (business)

— Swiss neo built for SMEs and online businesses

  • Why it’s great: Fully digital onboarding, Swiss IBAN, built specifically for SMEs/freelancers that work cross-border or in “compliance-heavy” industries. Clear, published pricing and human support are the draw.

  • Who it’s for: Freelancers with international flows, high compliance friction, or who simply prefer a modern Swiss business account over a big-bank package.

ZKB (traditional)

— if you live in the Canton of Zurich

  • Why it’s safe: State guarantee from the Canton of Zurich in addition to standard depositor protection; full-fat banking with an excellent mobile app. Downsides: availability is Canton-tied, and pricing is “traditional bank” rather than neo-cheap.
Screenshot 2025-09-05 at 13-12-47 Zürcher Kantonalbank – We are the bank that is close to you.png

What this means if you’re a freelancer

(Einzelfirma/GmbH)

  • Separate private vs. business:
    Many Swiss “neo” private accounts explicitly prohibit professional use (e.g., neon, Yuh). Use them personally, and pick a business account for invoices, VAT/taxes and payouts.

  • Best two-account combos (pragmatic picks):

    • neon (private) + PostFinance Business (work) → cheapest foreign card spend for you, plus serious CHF/EUR business banking for your clients and accounting.

    • Zak (private) + Relio (work) → Swiss, app-first for both, with Relio covering the SME side and Zak handling personal life.

  • Depositor protection: Standard CHF 100k per bank via esisuisse; app-only banks that custody funds at a partner bank inherit that partner’s protection (e.g., neon → Hypothekarbank Lenzburg).

Costs & features snapshot (as of 4 Sep 2025)

Provider Account type Swiss IBAN eBill TWINT Card FX Monthly fee (private) Business-use?
neon Private Yes Yes Yes (neon TWINT) Mastercard rate, no markup CHF 0 No
Yuh Private Yes Yes Yes Up to 0.95% markup CHF 0 No
Zak (Bank Cler) Private Yes Yes Yes Standard bank FX Low/None (check fees) Likely no
radicant Private Yes Likely via app Likely via app Standard bank FX Low (check) No
PostFinance Business/Private Yes Yes Yes Standard bank FX CHF 10 (SmartPlus), can be CHF 5 Yes
Relio Business Yes Yes — SME-oriented pricing — Yes

Details per providers’ current public pages. Always check each fee schedule before you move.

Migration game plan from Credit Suisse → your new setup

  1. Open the new account(s) first (private + business if needed).

  2. Move incoming payments: give clients your new Swiss IBAN; update marketplaces, payroll, tax office, AHV/AVS, insurance, rent, utilities.

  3. Migrate eBill: activate eBill in the new app and re-subscribe to your billers (many providers let you search and re-link). ^1

  4. Re-link TWINT: delete or switch your old TWINT and link the new bank’s TWINT (e.g., neon TWINT / Yuh TWINT).

  5. Direct debits & cards: switch LSV+/CH-DD mandates and update card details across SaaS and app stores.

  6. Merchants (if you sell online): if you accept TWINT, re-point your PSP/acquirer to the new settlement account.

  7. Run parallel for one statement cycle; once everything posts correctly, close the old account.

^1 If you used Yuh’s “How to change banks” checklist, note their advice to unlink TWINT tied to the old account during a switch.

Recommendations (pick one path):

I want the cheapest foreign card spend and a Swiss IBAN, but I’m fine keeping business separate:

→ neon (private) + PostFinance Business (or Relio) for your freelance work. That combination keeps your personal spending ultra-efficient while your business stays compliant and robust.

I want a single brand with branches and a good app for my personal life, plus a clean business account:

→ Zak (private) + Relio (business). If you’re in Zurich and want maximum safety, consider ZKB for private/biz instead.

I want an all-in-one private money app with investing and TWINT/eBill, and I don’t mind a small FX fee:

→ Yuh (private) + Relio or PostFinance for work.

A quick word on security and stability

  • CHF 100k depositor protection per bank (esisuisse). Cantonal banks like ZKB add an explicit state guarantee on top. App-only banks that use a partner bank (e.g., neon → Hypothekarbank Lenzburg) benefit from that bank’s protection.

Final take

If you want the cool, low-fee, Swiss-IBAN, mobile-first experience for your personal life, neon is hard to beat. If you want everything (including investing) in one app, Yuh is excellent. For freelance banking, skip trying to “force” a private neo account into business use: open PostFinance Business or Relio and sleep better.

From there, the migration is just a checklist. You’ll be fully off UBS without losing any Swiss conveniences (Swiss IBAN, eBill, TWINT) — and you’ll probably save on fees while you’re at it.