Switzerland has a growing neobank scene — Neon (backed by Hypothekarbank Lenzburg), Yuh (a joint venture of PostFinance and Swissquote), and Zak (from Bank Cler) offer fully app-based Swiss IBAN accounts with fast onboarding and low/no fees, while Revolut and N26 serve as EU-based multi-currency alternatives usable in Switzerland but without a Swiss IBAN. Neobanks are popular as a fast-to-open second account or day-to-day spending account, but most relocators still need a traditional Swiss bank for mortgages, larger transfers, or in-branch cash handling.
Neobanks can often be opened within a day, sometimes before a physical commune registration confirmation exists, making them a useful bridge account in the first weeks of a relocation while a traditional bank account is still being processed.
Key Facts
Neon, Yuh and Zak are Switzerland's main homegrown neobanks, each offering a Swiss IBAN, fee-free basic accounts, and app-based onboarding.
Revolut and N26 operate in Switzerland but issue EU IBANs (not Swiss IBANs), which can complicate salary payments or direct debits from Swiss institutions expecting a CH IBAN.
Swiss neobanks generally require a Swiss residence permit or address to open a full account, though some allow limited onboarding before permit confirmation.
Neobanks typically don't offer mortgages, cash deposit services at scale, or full private banking/advisory services — best used alongside, not instead of, a traditional bank.
Steps
Download the neobank's app — Neon, Yuh and Zak all use fully remote, app-based onboarding with video identification.
Verify identity remotely — Passport scan and video call identification, typically completed within minutes to a day.
Confirm Swiss IBAN issuance — Ensure the account provides a Swiss (CH) IBAN if it will be used for salary or direct debit purposes.
Use alongside a traditional bank — Keep a cantonal/major bank account for mortgages, larger cash needs, or services the neobank doesn't offer.