Zak Review & Test + 50 CHF Promo Code in October 2024

In this review of Zak by Bank Cler, we test a simple and free mobile app to manage your daily banking operations. Zak sets itself apart from other Swiss neobanks by offering features such as shared pots, savings account, savings pots for managing financial goals, a pillar 3a account, mobile payments, and a free debit card. If you’re looking for a fully digital, fee-free bank, the Zak account is a great option.

Our test showed that opening an account takes less than 10 minutes. Zak earned a good 7.9/10 — find out more about how we reached that score!

Zak Bank Cler Quick Facts – October 2024

In This Review

Zak Review – A Free Swiss Bank Account in CHF

Bank Cler, formerly Coop Bank, is the first Swiss bank to introduce a neobank-style current account through the Zak app, offering a convenient e-banking solution. The standard Zak plan is completely free and allows you to easily manage your daily banking transactions within Switzerland.

In addition to its digital services, Zak customers also have access to Bank Cler branches, offering a complementary (and reassuring?) service alongside e-banking.

You only need to be a Swiss resident – without any nationality requirement – to open an account with Zak Bank Cler.

Zak Bank Cler currently offers 2 types of mobile bank accounts in CHF :

We have tested the Zak mobile app for you and compared features and pricing in details.

Updates:

• See the new Zak Debit card
• Discover the benefits of Common Pots and Zak Illico
• The Zak app now offers eBill, just activate the plugin.
• Zak launches its cashback offer
• Discover Zak’s 3a savings plan

Test & Review of the Zak Account Opening Review – 8/10

Zak is a Smartphone Bank that allows you to open a free mobile bank account direclty from the Zak app.

What are the Zak bank account requirements?

Zak is a well established Swiss bank (Bank Cler) and your funds are protected up to 100,000 CHF.

How to open a bank account with the Zak app

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

1. Download the Zak App on iPhone or Zak App on Android
2. Verify your identity through the app
3. Transfer a small amount to the account
4. It’s done! Your account is opened

In our test of the Zak app, it took about 1 hour to have the Zak account completely activated. Which is pretty fast.

Zak will not ask you for paper documents. But if you’re not a Swiss national, the customer service may ask you to provide a copy of your B (or C) Permit.

You can use the Zak account to perform any type of transaction (transfer, direct debit, etc..) like with any other Swiss bank account.

The Visa Debit card is free and similar to other Swiss banks, you will receive 2 letters: one for the card and one for the PIN code.

Though the opening process is very similar to other neobanks, we feel that only the app has been adapted for mobile experience, however, the back-office operations and processes remain those of Bank Cler.

Overall we believe that there is too much paper and it’s lacking the magic experience offered by N26 or Revolut that use a single luxury packaging to ship the card (already activated) and with the PIN managed directly from the app.

N26 Debit Card

Here is the example of N26:

Our opinion on the account opening with Zak

We like that the opening process is easy and quick, even if we would prefer a better user experience with a nice packaging and a single letter.  -2 points

User experience and customer reviews of the Zak App – 7/10

Zak is the neobank of Bank Cler and that has a lot of influence on the mobile application!

We feel that the user interface has been “adapted” to mobile, but does not look like a native smartphone application. It’s more like a web experience adapted to an iPhone and Android app.

The user interface is not as fluid and intuitive as the ones from N26 or Revolut. There is no loading effect between screens, it’s lacking of “polish”.

Here is an example of the card settings on Zak and N26.

Zak Debit Card Settings

N26 Card Settings

The Zak app is rated 4.5 on the apple Store and 4 on Google Play, which is a very good rating.

Zak is described as a user-friendly banking app that allows users to manage their banking transactions for free. The user-friendliness of the app is often mentioned in Zak reviews. Many users appreciate its simplicity and functionality, but some complain about the less intuitive interface. Our Zak test confirm that the app covers all essential banking functions, but doesn’t quite match the smooth usability of other neobanks.

Zak Apple Store Reviews

Zak Google Play Reviews

Despite some usability issues, the application is easy to use. Menus are well organised and key features are accessible in one click.

We remove 3 points because the experience is behind N26 or Revolut.

Review of Zak App Features – 7/10

As a neobank, Zak offer most services directly within the mobile application:

• Access your payments history
• Make new payments
• Pay with QR code
• Pay with Apple Pay, Google Pay or Samsung Pay
• Pay with eBill
• Pay with TWINT Prepaid
• Make instant payments with Zak Illico
• Create and share Common pots (spaces)
• Earn interests with a savings account
• Open a Pillar 3a account
• Get cashback
• Block your card
• Change your plan
• Manage push notifications

But some features are not yet available:

• Freeze the card, like N26 or Revolut
• Change the card PIN code
• Change the daily and monthly limit of the card
• Change your personal details
• Contact the customer service by Chat

QR Code Payments

In Switzerland, everyone is familiar with the QR code payment system, widely adopted and offered by major banks like UBS. Zak also provides this feature, which simplifies local payment management: a simple scan of the QR code on a bill, and all the information is automatically filled in. It’s convenient, fast, and perfectly suited to the Swiss billing system. This is a real advantage compared to international neobanks like N26 and Revolut, which do not have access to this feature.

Zak QR code Payment

Zak TWINT

Unlike Yuh TWINT, Zak does not yet offer a dedicated TWINT app, but it is possible to use TWINT Prepaid for payments. This service allows you to send money, pay in stores and online, or between friends, simply by scanning a QR code or using a phone number. While Zak does not offer full integration with TWINT like some banks, using TWINT Prepaid remains a practical alternative for Swiss users.

To learn how to use TWINT with Zak, read our article on Zak TWINT.

Zak Illico

Zak Illico is an instant payment feature between Zak users that allows you to transfer money in real-time, without fees, directly from the app. Whether it’s to reimburse a friend, share an expense, or request money from friends or partners, the funds are immediately available in the recipient’s account, making it convenient for managing shared expenses. This option is ideal for quick transactions between close contacts, significantly simplifying daily money exchanges.

This feature is very similar to those of N26 with Beam and Yuh with Pay a friend.

To learn how to use this feature, read our article on Zak Illico.

Zak Shared Pots

Zak’s shared pots allow you to manage shared expenses between friends, roommates, or family (up to 10 people). You create a pot in the app, add members, and split the expenses. Unlike TWINT, this feature allows long-term tracking of expenses.

To use this option, simply activate it for free via the Zak Store. It’s ideal for outings, vacations, or managing shared living expenses. More information is available here.

This feature is quite similar to the Spaces at N26 🙂

Zak Shared Pots

N26 Spaces

Savings and Interest Rate at Zak

Zak offers a savings account with an interest rate of 1.05% up to 100,000 CHF. Accessible directly via the app, this option allows you to easily set money aside and track accumulated interest in real-time thanks to an integrated counter. You can open and manage this savings account for free from your smartphone.

If the savings account seems too restrictive, you can simply benefit from the interest paid on your account balance. Here’s what Zak offers in October 2024 compared to other Swiss neobanks:

Pillar 3a Account with Zak

Zak allows you to subscribe to a pillar 3a account directly via its app, offering a simple and flexible way to plan for retirement. You can choose between two options: a pillar 3a account with a guaranteed interest rate (currently 1.3%) or an investment savings option tailored to your risk profile.

The contributions are tax-deductible, allowing you to reduce your taxable income while saving for the future. Zak also simplifies real-time tracking of your investments via its intuitive mobile interface.

The advantages of Pillar 3a with Zak:

• Tax reduction: Contributions are tax-deductible (up to 7,056 CHF for employees, 35,280 CHF for self-employed).
• Investment flexibility: Choose between a fixed-rate account or an investment savings option depending on your goals.
• Security: Funds are protected by Swiss deposit insurance up to 100,000 CHF.
• Retirement preparation: Possibility to use the funds to finance the purchase of a primary residence or start a self-employed business with early withdrawals.

Zak’s Cashback Offer

Zak has launched a cashback program in partnership with Shopmate, available to Zak and Zak Plus users. This service allows for immediate discounts at over 250 partner stores like Booking.com, Jelmoli, Media Markt, and Ochsner Sport. Unlike traditional loyalty programs, cashback offers a direct refund in cash to your Zak account after each purchase. Simply use the Zak app to take advantage of the offers.

For more details, read our full article Zak’s cashback offer with Shopmate.

Our Opinion on Zak App Features

The Zak app offers simple and modern banking management with key features like QR code payments, eBill, instant payments with Zak Illico, expense management via joint pots, and cashback in partnership with Shopmate. It also includes options like savings and pillar 3a, though some practical features are missing, such as temporary card lock or spending limit management.

Zak Debit Card Review – 8/10

Zak has changed its card system several times: Initially, it was a Maestro card, replaced by a Visa Prepaid card, and now it’s a free VISA Debit card that works partially with the ONE app from Banque Cler. This remains a bit complicated, and we would prefer to manage everything in one single app.

The delivery of the free VISA Debit card is also free of charge.

Zak Visa Debit Card

Other neobanks also offer either a Debit Visa or Debit Mastercard.

The Debit Visa is very useful for online shopping or when traveling. It’s also compatible Apple Pay, Google Pay and Samsung Pay.

Zak Card Settings

Unlike Revolut or N26 it is not possible to freeze the debit card. Clicking “Block the card” may be expensive since Zak will charge you 50 CHF to block the card..

In the Zak app, the settings are very limited: you can only block the card. To have more options, you need to use the ONE app, which allows you to:

• block the card
• display your PIN code
• replace the card

Zak Card Settings

Zak ONE app

Zak Bank Plans and Pricing – 8/10

The Zak standard plan is free and includes a Visa Debit card (that replaces the Maestro).

Zak Plus costs 8 CHF per month and allows you to get free unlimited cash withdrawals at any ATM in Switzerland.

Zak Plans and Pricing

Zak Visa Debit fees in Switzerland

The Zak Visa Debit is free when used for payments in Switzerland, meaning when used in high-street shops or online with shops based in Switzerland and using CHF.

Payments aboard with the Zak Visa Debit

Zak apply a 2% surchage on payment abroad with the Visa Debit card.

Zak use an internal exchange rate that is not available online, while Neon uses the MasterCard exchange rate, just like N26.

Cash withdrawals in Switzerland in CHF

Zak allows for free cash withdrawals at Bank Cler ATMs. While cash withdrawals from other Swiss ATM in CHF are charged 2 CHF.

If you plan to withdraw cash frequently, then ZAK plus is a good option since it offers unlimited cash withdrawals in CHF at any Swiss ATM.

Cash withdrawal abroad in EUR

With the Zak free plan, cash withdrawals abroad cost 5 CHF each time.

Same as with CHF: if you plan to withdraw abroad cash frequently, then ZAK plus is a good option since it offers unlimited cash withdrawals in CHF at any ATM.

Blocking the card

With Zak and Zak Plus plans, blocking the card is charged 50 CHF. That sounds very expensive compared to N26 or Revolut fees that are only 10 EUR for card replacement.

Card replacement

With Zak and Zak Plus plans, card replacement costs 20 CHF.

Domestic transfers in Switzerland in CHF

Zak does not apply any fee on domestic transfers in Switzerland in CHF

SEPA transfers in EUR

Zak does not apply any fee on SEPA transfers in EUR

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.

Zak is the neobank of Bank Cler, that means that you receive the service as a mainstream bank: transfer within Switzerland are instant.

SEPA transfers with Zak are also very fast and when receiving money on your account, you also notified instantly with push notifications.

However, it lacks instant payment options such as Beam at N26 or “Pay a Friend” at Yuh.

Zak Bank Cler Customer Service Review – 8/10

Unlike N26, Zak does not offer live chat support, but a simple bot that directs you to a phone line opened Monday to Friday, from 8:00 to 20:00.

You may initially think that it’s a Chat, but it’s only a bot! If you ask for a “human”, they only display the phone number of the customer service 848 55 66 66 and their email: support.zak@cler.ch

If you email Zak, you will usually get a reply within 1 or 2 days, which is acceptable but does not feed the need for immediacy required by neobanks’ customers.

With N26, the LiveChat is immediately accessible during a wide time frame (until 23:00). The N26 virtual assistant gets you to wait for a minute or so, the time that a human takes over the conversation.

We believe that Zak should take example on N26 and offer in-app livechat support, at least the Zak Plus customers.

Which Zak Account Should you Choose: Zak or Zak Plus?

If you do not withdraw cash frequently, Zak is the ideal offer since it’s free.

But if you’re a cash addict and need to withdraw cash frequently in Switzerland or abroad,  ZAK Plus is the best plan since there will be no fee applied on cash withdrawals at any ATM.

• ZAK Plus is more economical from 4 cash withdrawals in Switzerland
• Only cash withdrawals aboard make ZAK Plus an cheaper option

Our Final Review About Zak Bank Cler

Zak Bank Cler positions itself as an attractive neobank for Swiss residents looking for a free and accessible digital bank account. With its fast and paperless account opening process, Zak allows for efficient management of daily finances. Its features, such as the free Visa Debit card, shared pots, and the integration of modern payment options, make it an attractive solution, although there are still areas for improvement, particularly in terms of app usability and customer support.

Despite some limitations, including the absence of certain comfort features and the use of multiple emails, Zak stands out thanks to its competitive rates and ease of use. Whether you are a casual user or looking to manage your finances on a daily basis, Zak Bank Cler offers a banking experience that is tailored to today’s needs. If you are hesitating between several options, the Zak app could well be the neobank you need to easily navigate the Swiss financial landscape.

Zak vs Neon vs Yuh – Which is the Best Swiss Neobank

Here is our quick comparison table to help you choose between Yuh, Neon, and Zak.

To find out how each criterion is evaluated, read our article Zak vs Neon vs Yuh.

ZAK vs Neon, Which Neobank is the Best for You

You can’t go wrong with either Zak or Neon. You may find that Zak is a cheaper option at the beginning since the account opening and the card are 100% free. While Neon charge 10 CHF for the 1st card.

Zak is also a good option for teenagers aged 15 to 18.

On the other side,  Neon offer more features such as e-Bill and Twint.

For an in-depth comparison, you can read Neon vs Zak

Frequently Asked Questions (FAQ) about Zak Bank