Letztes Update: 28. June 2024
Neobanks are no longer just popular with tech and finance nerds in Switzerland. For example, neon has just passed the 200,000 customer mark. But until now, no Swiss mobile bank has offered a joint account. neon has once again demonstrated its great innovative potential by offering neon duo, the first mobile joint account in Switzerland. In this article, you’ll find out everything you need to know about the neon joint account and at the end you’ll know whether you should continue to enter all your expenses in Splitwise or whether it’s better to switch to neon duo.
You can find out all about neon’s private account, which is a prerequisite for opening a joint account, in the article about my experience with neon.
neon duo account opening
As already mentioned, you and your partner must each have a neon account so that you can open a neon joint account. You must also live in the same household. So you don’t necessarily have to be a couple, you can also open an account as a shared flat, but no more than two people can open a joint account.
Open your neon free private account now:
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To open an account, go to “Profile”, “Accounts” in the neon app and then click on “Open joint account” at the top. At the moment, neon duo is still in the beta phase and as the opening is only partially automated, there is a waiting list. However, you can see in the app which place you are currently on the waiting list.
neon duo costs
When the account is opened, you will receive an IBAN and a card for the joint account. The neon duo card costs a one-off fee of CHF 10 per person. The amount will be debited to the respective private account. After that, the neon joint account costs CHF 3 per person per month. This amount is also debited to the corresponding private account. Together, a couple spends 72 francs per year.
There is already criticism of pricing on social media: traditional banks are lowering their fees and neo-banks are introducing fees.
The practical thing about neon duo is that you can also benefit from the favorable exchange rates during your vacations together and don’t have to go through all your bills at the end of the vacations and offset them against each other. If you pay with cards from conventional banks, the exchange rate fees are often well hidden.
Incidentally, you can make two cash withdrawals per month in Switzerland free of charge per joint account; each additional withdrawal costs CHF 2, as with neon free or neon green. The conditions and service prices are generally clear and transparent as usual.
neon joint account in everyday life
Another practical feature is that you only need one login because you keep your private account (free, green or metal) and can access the additional partner account with a single swipe.
If you are not married and do not file a joint tax return, you must declare half of the neon duo account balance on December 31 in your tax return.
If a joint account partner dies, the account is generally blocked until the estate has been settled. As with all joint accounts, it is therefore worth leaving a certain amount of liquidity in the private account.
Transfers from the private account to the joint account are made in real time, so the money is available immediately. In the eBill portal, you can also select the joint account when paying invoices. It is now also possible to make international transfers with Wise via the joint account.
You cannot currently use Spaces in the neon duo environment. This means that your money in the joint account does not earn interest. It is also not possible to invest jointly in shares or ETFs. This is only possible on your private account.
Conclusion: neon joint account
The most requested feature at neobanks – the joint account – was finally implemented by neon as the first mobile bank. The offering is simple and easy to understand – as you would expect from neon – and should simplify the finances of many couples. It remains to be seen whether customers accustomed to free offers will appreciate the pricing. However, the long waiting list proves that the neon joint account is attracting a great deal of interest.
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