Neon: Scrapped abroad card fees

Neon: Scrapped abroad card fees

Neon: Swiss challenger banking app, has scrapped abroad card fees for its customers

  • The fintech hopes abolishing the fees will help to drive customer numbers up to 250,000 over the next two years
  • The challenger says it’s the first Swiss account to get rid of card fees worldwide
  • For comparison, Swiss incumbent bank UBS charges a 1.75% fee when customers spend Swiss Francs (CHF) abroad on their credit or prepaid cards
  • For ATM withdrawals abroad, Neon has reduced the fee to 1.5%
  • As for withdrawals at home, the first two are free and users can take out up to CHF 1,000 at a time
  • If they withdraw more than twice, it will cost them CHF 2 per withdrawal