Radicant now offers a euro (EUR) account designed to facilitate cross-border financial transactions, with SEPA payment management, reduced conversion fees, and competitive interest rates on EUR deposits.
This feature is particularly useful for those who work or travel regularly in Europe or need to make payments in euros within the SEPA (Single Euro Payments Area).
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Radicant EUR Account: Key Features
1. A Dedicated IBAN
When you open an EUR account with Radicant, a specific IBAN is generated in your name. This allows you to receive payments directly in euros without needing currency conversions.
This is a significant advantage if you want to avoid hidden fees or additional delays related to international payments.
2. Interest on Deposits
Radicant offers interest on deposits in euros through its EUR account. Similar to Alpian and Yuh, this feature is integrated into a mobile app, allowing for direct and simplified management of euro funds.
| Neobank | Interest | Limit |
|---|---|---|
| Alpian | 1.00 % | 500'000 CHF |
| Radicant | 1.50 % | 250'000 CHF |
| Yuh | 0.50 % | - |
Radicant stands out with a competitive interest rate for EUR deposits, providing an attractive option for saving in this currency.
3. Free SEPA Payments
The EUR account with Radicant allows you to send and receive SEPA payments for free. This system covers 36 European countries, ensuring fast execution and costs equivalent to those of a national euro transfer.
4. Transparent CHF-EUR Conversion
If you need to convert CHF to EUR, Radicant applies a fixed rate of 0.9%. This clear pricing avoids the frequent surprises of hidden margins used by many traditional banks.
How to Open an EUR Account with Radicant
Opening an EUR account with Radicant is straightforward and quick:
- Log in to your Radicant app.
- Go to the “Currency Management” tab.
- Select “Open an EUR Account”.
- Confirm your request, and an EUR IBAN will be immediately assigned.
Once the account is activated, you can start receiving SEPA transfers or making payments.
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Use the promo code neorad by December 31, 2024 to receive 50 CHF in cash 🙌 (make 3 payments with the debit card within 30 days).
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Radicant EUR Account Fees
- Monthly EUR Fees: Free
- Interest: 1.5% up to 250,000 EUR.
- SEPA Payments: Free
- CHF ↔ EUR Conversion: 0.9%
Conclusion
With the introduction of its EUR account, Radicant now stands out from Neon and Zak by offering euro transactions as well as interest on deposits. However, it is important to note that this account is not a multi-currency account like those offered by Alpian and Yuh. Unlike these, the Radicant debit card cannot yet be used interchangeably in multiple currencies.
This new feature strengthens Radicant’s position in the Swiss neobank landscape by providing a solution tailored to managing finances in euros, while remaining distinct from more comprehensive multi-currency functions.
Frequently Asked Questions (FAQ) about Radicant EUR Account
✅ Does Radicant offer a promo code or referral code?
Yes, Use the promo code neorad to get 50 CHF 🙌 from Radicant. Get the Radicant app ➡️.
✅ How do I activate my EUR account?
Activation is done directly within the Radicant app through the “Currency Management” tab. Once activated, an EUR IBAN is assigned to enable transactions.
✅ Can I save money in my EUR account?
Yes, deposits in euros on the EUR account earn a competitive interest rate, providing an attractive option to diversify savings in this currency.
✅ What fees apply to CHF-EUR conversions?
Radicant applies a fixed rate of 0.9% for CHF-EUR conversions, which is transparent and competitive compared to the market.
✅ Does Radicant offer a multi-currency account?
No, Radicant offers an EUR account that complements its CHF account. Unlike Alpian and Yuh, it is not a multi-currency account.
✅ Can I receive non-SEPA international transfers?
Yes, it is possible to receive international transfers outside the SEPA area, but fees may apply depending on the type of transfer and the currencies involved.
✅ Are SEPA transfers instant?
SEPA transfers are generally processed within one business day. Some recipient banks may offer instant processing options.
✅ What fees apply to SEPA payments?
SEPA payments made from the Radicant EUR account are entirely free of charge.
✅ Are there limits on SEPA payments with Radicant?
There is no specific limit for SEPA payments, but transaction caps may be applied depending on the bank’s policies.
✅ Can I use my Radicant debit card for foreign currency payments?
The Radicant debit card can be used for foreign currency payments, but it does not support multi-currency payments. Each foreign currency transaction requires conversion with specific fees.
✅ Does Radicant offer virtual cards for the EUR account?
Yes, a virtual debit card is included for free and can be used for online payments or via e-wallets like Apple Pay or Google Pay. A physical card is also available for a one-time cost of 10 CHF.
✅ What is the difference between Radicant, Neon, and Zak?
Unlike Neon and Zak, Radicant offers an EUR account with free SEPA payments and interest on deposits. However, it does not offer the multi-currency features available with Alpian and Yuh.
Radicant Promo Code: neorad
Don't have a Radicant Bank account yet? Use our referral code to open your free Radicant Bank account!
Use the promo code neorad by December 31, 2024 to receive 50 CHF in cash 🙌 (make 3 payments with the debit card within 30 days).
Get 50 CHF with Radicant ➡️
