Yapeal Review 2024 + 30 CHF Promo Code in October 2024

The Yapeal app is designed to be your all-in-one banking solution, allowing you to manage a CHF account, make mobile payments with your Visa debit card, and access financial services without hidden fees.

Since its launch, Yapeal has gained popularity due to its customer-focused approach and its quick account opening process, which takes less than 10 minutes. In this Yapeal review 2024, we look at the key features of the Yapeal app, its user-friendliness, and how it meets your everyday banking needs.

Yapeal Quick Facts – October 2024

In This Review

Yapeal review – The Fintech Neobank in Switzerland

Yapeal launched its offer in July 2020.

Unlike Neon – that use the services of Hypothekarbank Lenzburg – Yapeal has its own banking licence, a Fintech banking licence.

The bank account is only available in CHF

Here is a sumary of the Yapeal offer:

• Free bank account (Loyalty) in CHF, that does not allow bank transfers
• Free Visa Debit
• Premium offer (Private) from 4 .90 CHF

We have tested the Yapeal app for your and compared features and pricing.

Review of Yapeal Bank Account Opening – 9/10

Yapeal allows you to open a free mobile bank account from your smartphone.

What are the Yapeal bank account requirements

Yapeal has a strong focus on security and transparency. You can use this bank account to receive your salaries and make bank transfers in Switzerland or to your Revolut card.

How to open a bank account with Yapeal

To open an account with Yapeal you just need to follow these steps:

1. Download the Yapeal app from the App Store or Google Play
2. Download the Yapeal Shield app from the App Store or Google Play
3. Answer a few questions and choose your IBAN
4. Verify your identity
5. It’s done! Your Yapeal account is opened 🙌

Personal touch: you can choose your own IBAN during the opening process:

Yapeal Personalized IBAN CH

The Yapeal account allows you to make all the standard transactions (bank transfer, direct debit, etc.) like with any Swiss bank account.

But be careful with fees and limitations: the free account (Loyalty) does not allow bank, which is really restricting the use of the account. If you try to make a bank transfer, Yapeal will push you to upgrade:

Upgrade to Yapeal Private

The Visa Debit card is free but you there is a 7-CHF delivery fee.

You receive a single letter with your card on it, which makes a real difference with CSX, Neon and Zak and their 2 to 4 letters: 1 for the card, 1 for the PIN code, 1 for the 3D PIN code and 1 for SecureSign (with CSX).

Yapeal Welcome Letter

The Yapeal experience is closer to N26, but we would like a more polished packaging rather than a simple letter. Here is the N26 packaging for example:

N26 Debit Card

Our opinion on the bank account opening with Yapeal

We like the quick opening process, even we would prefer a single app. -1 point

Usability and customer reviews of the Yapeal app – 9/10

Like neon, Yapeal is a new neobank, the app has been developed “from scratch”.

Although the app is not using “happy colours”, the user interface is intuitive and reminds us leading neobanks app N26 and Revolut :

• The mobile app is fluid and intuitive
• Menus are clear and well organised
• Essential features are always visible

Yapeal Account Opening

The home screen doesn’t not display your transactions and feels more like a Yapeal news feed to promote their new features. We would like an option to customise that home screen. That would avoid some extra clicks to reach the transactions for example. –1 point

Review of Yapeal App Features – 7/10

As a neobank, Yapeal offer all their services through a mobile application. That means it’s possible to do almost everything from your smartphone:

• Access your payment history
• Make new payments (only on the Premium paid plans)
• Scan invoices in Swiss format
• Activate eBill (only on the Premium paid plans)
• Display your Visa card number and PIN code
• Change your monthly limits
• Block your card
• Update your phone number
• Update your address
• Manage push notifications

But it’s not possible to:

• Change the PIN code of the card
• Authorise countries
• Create and Share spaces
• Contact customer support by Chat
• Use TWINT

The scanner feature or QR codes and invoices is very useful. A real plus compared to Revolut.

Card settings are not on par with N26 or Revolut

With Revolut and N26 you can temporarily freeze your card instead of blocking it, it’s also possible to change or display your PIN code in the app.

Yapeal Card Settings

and unlike CSX and N26, it’s not possible to manage your daily limits:

CSX Card Limits

If comfort options are missing, an essential feature is really missing on the free plan (Yapeal Loyalty): bank transfers! The fact that Yapeal is requiring a you to upgrade to be able to do bank transfers is really a drawback compared to other neobanks. It makes their free plan the equivalent of a Prepaid card.

English: Yapeal app features receive a rating of 7/10

Yapeal Credit Card Review – 8/10

Yapeal offers a free Visa Debit card. But you’ll have to pay 7 CHF for delivery.

Yapeal Debit Card

The Visa is very good for travelling and it’s compatible with Apple Pay, Google Pay and Samsung Pay.

Yapeal Plans & Pricing – 4/10

When they launched, Yapeal was offering a free bank account with all features. But at the beginning of 2021 they introduced a new pricing and that changed the whole package!

The Loyalty plan is still free but you must pay 7 CHF for the “delivery” of the Visa card. It’s not possible to make bank transfers unless you get a Private plan at 4.90 CHF per month or Private+ at 8.90 CHF per month.

From : 0 CHF/month
Account maintenance : via iPhone or Android mobile app
Credit card : Visa Debit

Plans

The free plan: Loyalty with Visa Debit

The Private plan is 4.90 CHF/month and the Private+ plan is 8.90 CHF/month.

Yapeal Visa card fees

Yapeal offers a free Visa Debit card. There is a 7-CHF “card issuing fee” for Loyalty customers (free plan).

Cash withdrawals in Switzerland in CHF

• 2 CHF / cash withdrawal with the Loyalty and Private plans
• Free with the Private+ plan

Cash withdrawals in Switzerland in EUR

• 5 CHF / cash withdrawal with the Loyalty and Private plans
• Free with the Private+ plan

Cash withdrawals abroad

• 1.5% / cash withdrawal with the Loyalty and Private plans
• Free with the Private+ plan

Replacement card

• 20 CHF with the Loyalty and Private plans
• Free with the Private+ plan

Payments and cash withdrawals in foreign currencies

Yapeal uses Visa’s currency exchange rates – similar to Neon and N26 – and they do not apply extra fee.

Negative interests

If you hold a balance of more than 25,000 CHF, Yapeal will charge you interests of 0.80%:

0.75% per year for the SNB (Swiss National Bank)
+
0.05% for Yapeal admin fees

We remove 6 points from Yapeal because their free plan is not a real bank account and they “force” customers to pay 4.90 CHF/month if they want to have a real bank account: meaning having the ability to do bank transfers.

Transactions’ Speed – 9/10

A wire transfer from a Swiss bank to another Swiss bank is instant, it usually takes a few seconds before showing up on the beneficiary account.

Yapeal offers YAPSTER-2-YAPSTER Payment which is similar to “Beam” (N26): an instant transfer feature that allows users to pay another Yapeal accounts in seconds. 

SEPA transfers are also very fast and the push notifications allow you to get an real-time alert when a transaction happens on your account:

Yapeal Push Notification

Yapeal Customer Service Review – 7/10

Unlike N26, Yapeal does not offer Livechat support, but a contact form and phone number.

The phone support is very good and support agents pick up the phone very quickly.

With N26, you also get quick access to a LiveChat support agent during a wide time range (until 23:00). The N26 virtual assistant gets you to wait for a minute or so, the time it takes for a human to take over the conversation.

We believe that Yapeal should take example on N26 and offer in-app Livechat support.

Our Final Review of Yapeal

Yapeal stands out as a solid option for Swiss residents, as well as for cross-border commuters and non-residents living in one of the five neighboring countries (Germany, Austria, France, Italy, or Liechtenstein). With its free CHF account and Visa debit card, Yapeal offers a modern and convenient banking solution through its mobile app.

However, the free plan has limitations, notably the inability to make bank transfers, which may be a drawback for some users. If you’re looking for more features, such as transfers or extended use of the Visa card, it’s recommended to subscribe to a paid plan or consider free neobanks like Alpian, Neon, or Yuh.

Frequently Asked Questions (FAQ) about Yapeal