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  #61  
Old 24.04.2020, 21:23
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Re: N26 is coming to Switzerland!

Has anyone tried switching their N26 account from an EU country to Switzerland? What are the advantages / disadvantages of doing so?
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  #62  
Old 24.04.2020, 21:39
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Re: N26 is coming to Switzerland!

Yep, Iv changed it in a few countries Iv lived in. Nothing changes, only really means that if you loose your card then it gets sent to your new address. Your IBAN will still be German.
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  #63  
Old 17.07.2021, 12:32
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Re: N26 is coming to Switzerland!

If anyone is thinking of joining N26 - I have a referral code, we'd both get €50 credit.
Here it is:
craigp0141

Overall I'd really recommend, I transfer money over using Wise then it's great for holidays, shopping in Germany etc the card arrived quickly and app is good to use
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  #64  
Old 17.07.2021, 13:07
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Re: N26 is coming to Switzerland!

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If anyone is thinking of joining N26 - I have a referral code, we'd both get €50 credit.
Here it is:
craigp0141

Overall I'd really recommend, I transfer money over using Wise then it's great for holidays, shopping in Germany etc the card arrived quickly and app is good to use
Curious as to why you would not just use the Wise card?
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  #65  
Old 17.07.2021, 17:48
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Re: N26 is coming to Switzerland!

Does N26 support paying these silly Swiss bills via the app ?
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  #66  
Old 17.07.2021, 18:52
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Re: N26 is coming to Switzerland!

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If anyone is thinking of joining N26 - I have a referral code, we'd both get €50 credit.
Here it is:
craigp0141

Overall I'd really recommend, I transfer money over using Wise then it's great for holidays, shopping in Germany etc the card arrived quickly and app is good to use
There are conversion fees with Wise. You’re better off with either neon or Revolut.
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  #67  
Old 17.07.2021, 19:45
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Re: N26 is coming to Switzerland!

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There are conversion fees with Wise. You’re better off with either neon or Revolut.

'I transfer money over using Wise' ? And Neon's conversion partnership is with Wise...
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  #68  
Old 17.07.2021, 19:57
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Re: N26 is coming to Switzerland!

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If anyone is thinking of joining N26 - I have a referral code, we'd both get €50 credit.
Here it is:
craigp0141

Overall I'd really recommend, I transfer money over using Wise then it's great for holidays, shopping in Germany etc the card arrived quickly and app is good to use
I signed up. Hope your 50 arrives - let me know if it doesn't.

PS why not just keep the money in Wise???
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  #69  
Old 17.07.2021, 19:57
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Re: N26 is coming to Switzerland!

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'I transfer money over using Wise' ? And Neon's conversion partnership is with Wise...
Neon charge you for using wise in their app.
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  #70  
Old 17.07.2021, 20:39
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Re: N26 is coming to Switzerland!

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Neon charge you for using wise in their app.
I know. I bank with Neon and have an account with Wise. Used to have Revolut but booted them for more reasons than I can remember.
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  #71  
Old 17.07.2021, 21:16
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Re: N26 is coming to Switzerland!

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'I transfer money over using Wise' ? And Neon's conversion partnership is with Wise...
I should have elaborated to be clearer. The poster mentioned N26 was great for shopping in Germany, holidays etc. With neon no transfer is needed to pay for holidays or shopping in another currency. Funds will be converted at the MasterCard rate (I believe very close to interbank rate). With Revolut you get the interbank rate during the week (up to 1250 CHF free to exchange per month with free account) and plus 0.5% I think on weekends. I use Revolut during the week and Wise on the weekends for shopping and neon on holiday for hotels etc.

For exchanging to another currency and transferring to another account, indeed neon is no good. They add 0.4% to the conversion fee that Wise charges as a ‘convenience fee’!
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  #72  
Old 17.07.2021, 21:24
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Re: N26 is coming to Switzerland!

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I signed up. Hope your 50 arrives - let me know if it doesn't.

PS why not just keep the money in Wise???
Perhaps the same reason as you. A quick €50
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  #73  
Old 17.07.2021, 21:38
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Re: N26 is coming to Switzerland!

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I should have elaborated to be clearer. The poster mentioned N26 was great for shopping in Germany, holidays etc. With neon no transfer is needed to pay for holidays or shopping in another currency. Funds will be converted at the MasterCard rate (I believe very close to interbank rate). With Revolut you get the interbank rate during the week (up to 1250 CHF free to exchange per month with free account) and plus 0.5% I think on weekends. I use Revolut during the week and Wise on the weekends for shopping and neon on holiday for hotels etc.

For exchanging to another currency and transferring to another account, indeed neon is no good. They add 0.4% to the conversion fee that Wise charges as a ‘convenience fee’!
Again why use Neon when Wise can offer the same for a little less? I'm genuinely curious. I was recently out of the country and used Wise for everything and not Neon.
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  #74  
Old 17.07.2021, 21:50
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Re: N26 is coming to Switzerland!

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Again why use Neon when Wise can offer the same for a little less? I'm genuinely curious. I was recently out of the country and used Wise for everything and not Neon.
Wise has a conversion fee, neon does not. Neon should offer the better deal, just. However, this is hard to verify as you don’t have quite the same visibility.
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  #75  
Old 17.07.2021, 22:07
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Re: N26 is coming to Switzerland!

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Wise has a conversion fee, neon does not. Neon should offer the better deal, just. However, this is hard to verify as you don’t have quite the same visibility.
According to the Neon website they charge 0.8 - 1.7% fees (https://www.neon-free.ch/en/pricing/) which is probably a little more than Wise.
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  #76  
Old 17.07.2021, 22:23
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Re: N26 is coming to Switzerland!

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According to the Neon website they charge 0.8 - 1.7% fees (https://www.neon-free.ch/en/pricing/) which is probably a little more than Wise.
This is for transfers which I mentioned neon is indeed no good. For card payments there is no fee and the conversion is based on the MasterCard rate. Wise charges a conversion fee that varies depending on the currency on top of the interbank rate.

Neon: MasterCard rate
Wise: Interbank rate + conversion fee

Therefore, with Neon you should come out just ahead. However, you cannot make a real-time comparison to confirm.

The relevant points from the pricing schedule that you cited are:

Quote:
Purchase (worldwide)
free
Exchange rate spread
0% (MasterCard reference rate)
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  #77  
Old 17.07.2021, 22:50
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Re: N26 is coming to Switzerland!

Can someone who uses N26 say whether it can be used to pay Swiss bills ? This is the only reason why I opened Postfinance, which otherwise is pretty useless.
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  #78  
Old 18.07.2021, 06:54
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Re: N26 is coming to Switzerland!

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Can someone who uses N26 say whether it can be used to pay Swiss bills ? This is the only reason why I opened Postfinance, which otherwise is pretty useless.
I haven't used it ever for paying Swiss bills, I'd say is probably possible bit not ideal unless the bill is in Euros. Neon would be much better for Swiss domestic payments I'd imagine.

Thanks all for the comments, I didn't realize I'd start a large debate

Overall I like N26 - there are merits I'm sure for using revolut or wise borderless etc both are good I'm sure. I like having N26 to withdraw cash as well and you also get 3 withdrawals at any Atm free each month. App is good and without any errors so far, and when using Wise with it I find the transfers arrive within a couple of hours. The German IBAN has also been useful to make bank transfers in Euros avoiding the fees from Swiss banks, I would say avoid Postfinance their fees are pretty big for euro withdrawal and transfer.
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  #79  
Old 18.07.2021, 06:59
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Re: N26 is coming to Switzerland!

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Neon charge you for using wise in their app.
Yeah I also noticed this, I think the rate is slightly better not using the neon app directly with wise built in but instead using only the wise app or website. It probably doesn't make a huge difference though.
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  #80  
Old 18.07.2021, 13:06
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Re: N26 is coming to Switzerland!

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Yeah I also noticed this, I think the rate is slightly better not using the neon app directly with wise built in but instead using only the wise app or website. It probably doesn't make a huge difference though.
The difference is 0.4% as I mentioned in an earlier post. This is a huge difference.
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