Switching from Credit Suisse? Top Swiss Bank Alternatives Before the UBS Migration Deadline
If you're a Credit Suisse customer, time is running out. UBS is completing the final wave of account migrations in Q1 2026. Find better options with lower fees and modern apps.
Why You Should Consider Switching from UBS
The Credit Suisse-UBS merger created Switzerland's banking giant, but not necessarily its best retail bank. Many former CS customers are discovering higher fees, less flexibility, and mandatory platform migrations.
Higher UBS Fees
CHF 5–10/month vs free alternativesForced Migration
March 2026 deadline approachingSystem Issues
Transaction glitches reportedThe migration deadline isn't just an inconvenience—it's your opportunity to upgrade. Once you're switching anyway, why not choose a bank that saves you money?
What Makes a Great UBS Alternative?
Based on our analysis of Swiss banks in 2026, here's what actually matters when choosing your next bank.
Essential Features
Every Swiss bank alternative must offer these core capabilities:
- <strong>Swiss IBAN:</strong> Required for salary deposits, bill payments, and local transfers
- <strong>Low or zero fees:</strong> Account maintenance, debit cards, and ATM withdrawals add up fast
- <strong>Modern mobile app:</strong> Apple Pay, Google Pay, TWINT integration, and push notifications
- <strong>Deposit protection:</strong> All Swiss banks cover CHF 100,000 per customer
Nice-to-Have Features
These extras elevate your banking experience:
- Multi-currency support for travel and online shopping
- TWINT and eBill (Swiss payment standards)
- Low foreign exchange markups
- Sub-accounts for [budgeting](/budgeting-apps)
- Joint accounts for couples
- Business account options for freelancers
Top 5 Credit Suisse Alternatives
After reviewing fees, user experience, and recent market changes, here are the standout options.
| Bank | Type | Best For | Account Fee | ATM Withdrawals | FX Markup |
|---|---|---|---|---|---|
| Bank WIR | Traditional | Cost-conscious users | Free* | 24 free/year worldwide | 0.06% |
| Yuh | Neo-bank | Mobile-first banking | Free | 1/week free (CHF 1.90 after) | 0.95% |
| Migros Bank | Traditional | Zero-hassle free banking | Free | Free at Migros network | 1–1.5% |
| Neon | Neo-bank | International spenders | Free | CHF 2.50 each | 0.35% |
| PostFinance | Hybrid | Business/freelancers | CHF 5/month | Varies | 0.95% |
*Requires CHF 1,500+ monthly deposits OR CHF 20,000 in pillar 3a savings
In-Depth Bank Reviews
Everything you need to know about each alternative, including the catches they don't advertise.
Bank WIR – Surprising Winner for Total Value
The Traditional Bank That Beats All Neo-Banks
Bank WIR shocked the market in 2025 when independent cost studies revealed it's actually cheaper than every neo-bank for typical users. Not just cheaper—you actually earn money after accounting for interest.
Why Bank WIR Wins:
Total annual cost: -CHF 1.70 (you profit) according to Moneyland.ch's June 2025 study. Compare that to Neon at CHF 12.80 or Yuh at CHF 30.
Exceptional exchange rates: 0.06% markup on interbank rates—matching the cheapest neo-banks and crushing UBS's 0.5% surcharge.
24 free ATM withdrawals worldwide per year. Not just Switzerland—anywhere globally.
Full Swiss bank benefits: Physical branches (35 locations), traditional reliability, complete deposit protection.
The Catches:
You need to meet one of two conditions:
- CHF 1,500+ in monthly incoming transfers (salary, invoices), OR
- CHF 20,000 invested in their pillar 3a retirement savings
One-time share purchase: CHF 200 when opening (you get CHF 20 back if you close the account later)
Customer service complaints: Recent Trustpilot reviews cite slow response times and difficulty reaching support by phone. This is the trade-off for low costs.
Who Should Choose Bank WIR:
âś… People who meet the income/savings requirement
âś… Cost-conscious users who want traditional banking
âś… Frequent travelers (those 24 free worldwide withdrawals are gold)
âś… Users who rarely need customer service
❌ Those who need responsive support
❌ People just starting out with limited savings
Bottom line: If you qualify, Bank WIR is objectively the best deal in Swiss banking right now.
Yuh – Best Neo-Bank Experience
The PostFinance-Backed Digital Bank on the Rise
Yuh is gaining 2,500+ new customers weekly as Credit Suisse clients migrate. Now fully owned by Swissquote (acquired PostFinance's stake in July 2025), it combines neo-bank agility with institutional backing.
What Makes Yuh Stand Out:
Completely free account and debit Mastercard. No hidden fees, no minimum balance.
Real TWINT integration (not prepaid like Neon)—meaning you can pay directly from your balance without topping up a separate wallet.
Multi-currency support: Hold and spend in 13 currencies, useful for cross-border shopping and travel.
Investing built-in: Buy fractional shares and ETFs from CHF 10, with 0% commission on savings plans.
Available in English—rare for Swiss banks.
First profitable year: CHF 1.7 million profit in 2024, showing financial stability.
The Downsides:
FX fees are expensive: 0.95% markup on foreign currency—nearly 10x worse than Revolut/Wise. If you spend abroad frequently, this adds up.
Limited free ATM withdrawals: 1 per week free in Switzerland, then CHF 1.90 each. Abroad costs CHF 4.90.
Customer service issues: Trustpilot reviews mention account lockings and slow support responses.
Who Should Choose Yuh:
âś… Mobile-first users who want a modern app
âś… People who spend mostly in CHF
âś… Beginners wanting investing options
âś… English speakers
❌ Frequent foreign spenders (exchange fees hurt)
❌ Heavy cash users (withdrawal fees add up)
Bottom line: Yuh is the best all-around neo-bank for typical Swiss residents who prioritize app experience over absolute lowest costs.
Migros Bank – Zero-Hassle Free Banking
The Established Alternative for People Who Want Simple
Owned by Switzerland's largest retailer, Migros Bank serves 800,000+ customers with a straightforward promise: everything is free, no catches.
What You Get:
100% free account with no minimum balance or monthly fees
Free debit Mastercard
Extensive ATM network: Free withdrawals at all Migros shops, Migrolino convenience stores, Migrol gas stations, and Migros Bank branches
M+ account package: Launched in 2024, includes free savings account + credit card with Cumulus loyalty points integration
Solid mobile app with TWINT, eBill, Apple/Google Pay, and standard features
Physical branches for in-person service when needed
The Limitations:
Foreign currency fees: CHF 1.50 for currency purchases, plus 1–1.5% exchange markup
SEPA EUR transfers: CHF 0.30 per transaction
ATM fees at non-Migros locations: CHF 2 per withdrawal
Less "cool" factor: The app works well but isn't as slick as neo-banks
Who Should Choose Migros Bank:
âś… People who want simplicity and zero fees
âś… Those who shop at Migros regularly (convenient ATM access)
âś… Users who prefer traditional bank stability
âś… Anyone allergic to surprise charges
❌ Frequent international spenders
❌ Users who need cutting-edge app features
Bottom line: Migros Bank is the safe, boring, completely free option. If you just need basic Swiss banking without complications, it's perfect.
Neon – The Formerly Unbeatable Neo-Bank
Still Good, But No Longer the Obvious Choice
Neon pioneered Swiss digital banking and still serves 240,000 customers. But May 2025 fee changes knocked it from its pedestal.
What's Still Great About Neon:
Free basic account with no monthly fees
Excellent mobile app: Clean design, "Spaces" for budgeting sub-accounts, instant transfers, card freezing
Ranked #1 neo-bank by Handelszeitung & Statista "Top Banks 2025"
Multi-currency support with competitive rates (when you upgrade)
Joint accounts available for couples
What Changed (And Why It Hurts):
FX fees added: 0.35% surcharge on free tier (May 2025). Previously zero.
Higher ATM fees: CHF 2.50 per withdrawal (up from CHF 2), with no free withdrawals on basic tier
TWINT is now prepaid-only due to their new Debit Mastercard—you must manually top up a separate wallet instead of paying directly from balance
Physical card costs CHF 20 one-time (virtual card is free)
The Neon Plus Upgrade:
For CHF 2/month, you get:
- 2 free ATM withdrawals monthly
- No FX fees (save the 0.35%)
- Worth it if you use ATMs or spend €50+ monthly abroad
Who Should Choose Neon:
âś… Users willing to pay CHF 2/month for better perks
âś… International online shoppers (good FX rates on Plus)
âś… People who value app design
❌ Free-tier seekers (Yuh or Bank WIR are better)
❌ Those who need easy TWINT (prepaid is clunky)
Bottom line: Neon is still solid but lost its "obviously best neo-bank" status. Consider it if you'll upgrade to Plus.
PostFinance Business – Best for Freelancers
The Freelancer-Friendly Business Account
While this guide focuses on personal banking, Swiss freelancers (Einzelfirma/sole proprietors) often need a separate business account. PostFinance Business stands out.
Why It Works for Freelancers:
Startup package: 2 years free account + PostFinance Card for companies founded in the last 2 years
Low ongoing cost: CHF 5/month (CHF 60/year) after startup period
Free CHF payments within Switzerland
Free SEPA EUR transfers (huge for cross-border freelancers)
Government backing: PostFinance is owned by Swiss Post
eBill and TWINT support for professional invoicing
Integrated accounting tools compatible with software like Magic Heidi
The Downsides:
Requires business registration: Not for informal side hustles
CHF 5/month isn't free: Bank WIR and others offer free business accounts with conditions
Who Should Choose PostFinance Business:
âś… Newly registered freelancers (2 years free!)
âś… Cross-border service providers (free SEPA EUR)
âś… Those who want established infrastructure
❌ Very early-stage freelancers still testing the waters
Bottom line: The best straightforward business account for Swiss freelancers, especially in your first two years.
What Happened to Other Banks?
The Swiss neo-bank market is consolidating. Here's what you need to know about banks that didn't make the list.
You might've heard about these options—here's why they're not on our list:
Radicant (CLOSED): The eco-focused neo-bank ceased operations November 11, 2025. Existing customers had to migrate elsewhere.
Yapeal (B2B ONLY): Stopped accepting private customers March 31, 2025. Now focuses on business clients.
CSX (DISCONTINUED): Credit Suisse's digital app shut down with the merger.
Coop Finance+ (CLOSED): App deactivated July 27, 2025.
The Swiss neo-bank market is consolidating. Stick with established players.
How to Actually Switch Banks
Your step-by-step migration checklist. Most banks offer switching services to make this painless.
Choose Your New Bank
15 minutes: Use our recommendations based on your priorities
Open Your New Account
20 minutes: Video verification, typically activates in 2–5 business days
Set Up Direct Debits
30 minutes: Update recurring payments with new IBAN
Switch Salary Deposit
10 minutes: Provide employer with new IBAN, allow 1–2 months to process
Move Your Money
5 minutes: Transfer balance, leave CHF 100–200 buffer for final charges
Monitor for 2 Months
Check all direct debits hit new account and salary lands correctly
Close Old UBS Account
10 minutes: Request closure in writing once everything switched
Total time investment: 2–3 hours spread over 2 months. Worth it to save CHF 100+ annually.
Frequently Asked Questions
Can I avoid UBS entirely after the Credit Suisse merger?
Yes. You're not obligated to stay with UBS. The migration deadline is your prompt to switch, not a requirement to remain a customer.
Are neo-banks safe in Switzerland?
Yes. Swiss neo-banks like Neon and Yuh partner with FINMA-regulated banks (Hypothekarbank Lenzburg, Swissquote) and offer the same CHF 100,000 deposit protection as traditional banks.
Do I need a Swiss IBAN or can I use Revolut?
You need a Swiss IBAN for your primary account. Swiss employers, insurance companies, and many landlords won't accept foreign IBANs. Use Revolut as a supplement for travel, not your main account.
What's the actual cheapest Swiss bank in 2026?
Bank WIR, according to Moneyland.ch's cost studies. You actually profit CHF 1.70 annually after interest, assuming you meet their requirements.
Can foreigners open these accounts?
Most banks require Swiss residency (B, C, or L permit) and Swiss tax domicile. EU citizens with valid permits can open accounts at Neon, Yuh, Bank WIR, and Migros Bank.
Do I need separate business and private accounts as a freelancer?
Legally, no for sole proprietors (Einzelfirma). Practically, yes—it simplifies accounting and looks more professional. PostFinance Business or Bank WIR's business account are good options.
Which bank has the best exchange rates for foreign spending?
Bank WIR (0.06%), followed by Neon Plus (0%) and Alpian (0.06%). Yuh's 0.95% is expensive. UBS charges 0.5%.
How long does switching banks take?
Account opening: 2–5 days. Full migration with direct debits and salary: 1–2 months. But you can use your new account immediately once it's open.
Make the Switch Before UBS Locks You In
The Credit Suisse-UBS merger created temporary chaos—but also a rare opportunity to upgrade your banking without the usual inertia. Don't wait until March 2026.
Our Final Recommendations
Best overall value: Bank WIR (if you meet requirements)
Best neo-bank: Yuh (modern app, full features)
Easiest traditional: Migros Bank (zero fees, zero hassle)
Best for freelancers: PostFinance Business (2 years free)
Opening an account takes 20 minutes, and you'll save hundreds of francs annually while getting a better mobile experience.
Swiss banking has never been more competitive. Take advantage.
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