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Side by Side Comparisons

Yuh vs Revolut – Which Is Best For You In October 2024?

Philippe

October 14, 2024

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If you compare Yuh with Revolut, you are probably looking for smartphone banks, or digital bank that offers a multi-currency bank account for traveling and for your transactions in foreign countries, for investing in stocks or to buy cryptocurrencies.

It is indeed very interesting to consider these neobanks compared to traditional banks such as UBS because they generally offer better exchange rates with very little transaction fees.

Yuh and Revolut are digital banking apps available on the Apple App Store and Google Play Store that provide convenient and user-friendly financial services. Both Yuh and Revolut offer a free bank account and a free debit card.

Let’s take a closer look at what each neobank offers.

What is Yuh?

Yuh is a Swiss smartphone bank (neobank) that offers a wide range of banking services, including a private account with a Swiss bank account number (IBAN CH). You can manage your main account in CHF, EUR, or USD, with access to sub-accounts in 13 different currencies. Yuh also provides a debit Mastercard and a virtual card for online and in-store purchases. Additionally, the app allows you to invest in stocks, ETFs, and cryptocurrencies.

What is Revolut?

Revolut, on the other hand, is a UK-based neobank known for its mobile banking app. It offers a range of services including multi-currency accounts, international money transfers, budgeting tools, cryptocurrency trading, and a prepaid Visa or Mastercard. They also offer accounts in CHF and sub-accounts in 29 currencies.

Yuh vs Revolut Switzerland – Which Neobank Should You Choose?

If you don’t have time to read this article, here is which neobank to choose according to your use

To find out how each criterion is judged, read on: we review important options for Switzerland (IBAN CH, transfers in CHF, TWINT) and abroad (cash withdrawals with the card, SEPA transfer fees, transfers in designs).

Yuh vs Revolut Switzerland – Coupon Code

By opening an account with Yuh you receive a welcome cash gift on your account, which is always appreciated.

On the other hand with Revolut, you get zero, zip, nada, zilch!

1 point for Yuh

Yuh vs Revolut Switzerland – Comparison

Here is a comparison of the features available from Yuh and Revolut:

Yuh therefore has a better offer in a Swiss context : IBAN CH, payments by QR and BVR, eBill and TWINT.

Revolut offers more currencies and – as we will see – also offers better prices for transactions abroad: Revolut is often cheaper than Yuh by 0.50% to 1% on currency exchange rate.

1 point for Yuh

Yuh vs Revolut Switzerland – Multi-Currency Accounts

When considering a multi-currency account, you might wonder how Yuh and Revolut stack up against each other in Switzerland. Both neobanks have unique offerings that cater to different preferences.

Yuh provides a simple and effective multi-currency account that lets you hold and manage funds in 13 different currencies. This option is perfect if you prefer a straightforward approach to organizing your finances. Plus, with a Swiss IBAN, you’ll find it convenient for local transactions.

Yuh Multi-Currency Account

On the other hand, Revolut takes it a step further by offering a multi-currency account that supports over 30 currencies. If you often travel or deal with international transactions, you’ll appreciate the real-time exchange rates and seamless currency conversions that Revolut provides. This flexibility can be a game-changer for managing your money globally.

Note that even if you prefer a conventional bank for your main account, opening a secondary account with either Yuh or Revolut can provide advantages such as favorable currency exchange rates.

In Switzerland, the only alternative to Yuh for a multi-currency account is Alpian, which offers accounts in CHF, EUR, GBP, and USD. Neon, Radicant, and Zak Bank Cler only offer accounts in CHF.

Yuh vs Revolut Switzerland – IBAN CH

As a Swiss neobank, Yuh provides a free multi-currency bank account along with a personal Swiss account number (IBAN CH).

On the other hand Revolut is a neobank based in the United Kingdom and with a banking license in Lithuania (LT).

At Revolut, as a Swiss resident, you can get a free account with 2 IBANs: an LT IBAN and a CH IBAN. However, the issue is that – unlike traditional Swiss bank accounts – the CH IBAN you receive with Revolut is not a personal IBAN in your own name. Instead, it is in Revolut’s name, which means you may not be able to use it in all situations.

1 point for Yuh

Yuh vs Revolut Switzerland – Debit card

At Yuh, like at Revolut, the debit card is multi-currency, that is to say that you can use it indifferently for all the currencies available on your account, it will automatically charge the currency that corresponds .

For example, if you have CHF and EUR on your account and you pay for a restaurant in France, the card will use the EUR available on your account.

On the other hand, there are fees linked to the card which are different at Yuh and Revolut:

For withdrawals in Switzerland the Yuh card is therefore much more advantageous than the Revolut card because the limit is much higher: up to 1’000 CHF/day and 10’000 CHF/month.

For withdrawals abroad you must use the Revolut card up to 200 CHF/EUR then you have to compare because the exchange commissions and fees are different: Yuh applies 0.95% exchange commission and Revolut applies 0.50% during the week.

Let’s take the example of a 1,000 EUR cash withdrawal in 5 instalments, during the week:

Revolut is therefore cheaper on multiple withdrawals because Yuh is penalized by the flat fee of 4.90 CHF.

Another example with 1 single cash withdrawal:

For one-time withdrawals, Yuh becomes cheaper than Revolut from 300 EUR..

1 point each

Yuh vs Revolut Switzerland – Payments & transfer fees

Both Yuh and Revolut Standard accounts are free.

Yuh and Revolut also allow you to make SEPA transfers in EUR at no cost, there are however fees on currency exchange:

At Yuh it is not possible to exchange currencies outside opening hours whereas it is possible at Revolut but with a surcharge of approximately 0.50%, i.e. 1% fee on weekends.

You can check the ‘Revolut exchange rate’ on their currency converter page.

For international transfers, Revolut publishes in this document the fees for international transfers. The fees are different if the beneficiary’s currency is that of his country or not.

For comparison, here are the fees for international transfers:

With the exception of AED, HKD and JPY, so Revolut‘s fee is always lower than Yuh up to at 1,333 CHF (because 0.30% of 1,333 = 4 CHF), beyond Yuh becomes cheaper on fees.

But to find out which is the cheapest between Yuh and Revolut, you have to compare all the fees:

Example 1: Transfer of 5,000 EUR in Switzerland, from your CHF account

As Switzerland is part of the SEPA system, Revolut does not charge any transfer fees on payments in EUR in Switzerland . These fees will be the same for a payment in EUR in France or in a SEPA country in euros.

Example 2: Transfer of 10,000 USD in Switzerland, from your CHF account

Example 3: Transfer of 5,000 USD to the United States, from your CHF account

(*) Tests carried out during the week

Revolut is therefore cheaper than Yuh for exchanges and transfers in foreign currencies. On the other hand, if you already have a stock of foreign currencies and you simply want to make a transfer in Switzerland, Yuh will be cheaper because there are no fees on transfers in Switzerland, for the 13 currencies that they offer.

If the issue of changing CHF to EUR is important to you, see our article How to Change Swiss Francs in Euros at the Best Rate.

1 point for Revolut

Yuh vs Revolut Switzerland – TWINT

Yuh now offers its Yuh TWINT application.

Revolut does not offer  TWINT because it is a product only available in Switzerland.

1 point for Yuh

Yuh vs Revolut – Savings and Interest Rates

Currently, Revolut does not offer interest-bearing savings accounts for Swiss residents. Interest-bearing savings features, such as Vaults with interest rates or savings accounts in certain currencies, are available in other European countries but not in Switzerland. For Swiss residents, Revolut focuses on its Vaults, which allow users to set aside money automatically or manually, but without generating interest. This limits its appeal for savers looking to grow their capital through interest rates.

Yuh, on the other hand, offers interest on deposits in several currencies. Whether you hold deposits in CHF, EUR, or USD, you can benefit from interest, calculated pro rata over the year. Moreover, there is no cap on the interest amounts, meaning you can earn interest regardless of the size of your deposits.

Here are the interest rates offered by Yuh as well as those of other Swiss neobanks for the month of October 2024:

Yuh vs Revolut Switzerland – Trading and Investing

In terms of investing, Yuh and Revolut have different approaches tailored to various types of Swiss investors.

Yuh allows investments in a range of over 200 stocks and ETFs, with the option to buy fractional shares starting from 25 CHF, a useful feature for those who want to start investing with small amounts. The fees are transparent, with a fixed commission of 0.5% per transaction for stocks, ETFs, and cryptocurrencies. Yuh is therefore an ideal solution for occasional investors looking for predictable costs and easy access to markets through a user-friendly interface. You can also invest in several cryptocurrencies, all managed through an app well-suited for Swiss residents.

Revolut, on the other hand, does not allow Swiss residents to invest in U.S. stocks, unlike its offerings in other countries. However, Revolut still provides access to a wide range of cryptocurrencies as well as commodities such as gold and silver.

Revolut Trading Commodities

Revolut Trading Crypto

Trading and Investment Fees

At first glance, Yuh is more transparent and affordable for Swiss investors due to its fixed fees of 0.5% per transaction, whether for stocks, ETFs, or cryptocurrencies. With Revolut, trading fees vary depending on the plan (Standard, Premium or Metal), and the lack of access to stocks for Swiss residents makes it less suitable for those looking to invest in traditional Swiss or European markets.

Should You Invest with Yuh or Revolut?

Yuh is an excellent choice for Swiss investors who want access to a diversified portfolio of stocks, ETFs, and cryptocurrencies with fixed fees and a simple-to-use interface. If you are looking for a platform specifically geared toward the Swiss market and transactions in CHF without currency conversion complications, Investing with Yuh is ideal.

Revolut makes it easier to invest in cryptocurrencies and commodities like gold, but it is not suitable for buying stocks or ETFs for Swiss residents, while applying significantly higher fees than Yuh.

If you are looking for a neobank to engage in trading or investing, consider investing with Alpian or with Neon Invest, which offer alternative solutions to Yuh.

1 point for Yuh

Revolut Standard vs Revolut Premium

Unlike Yuh, Revolut currently offers 4 plans:

• Standard – Free
• Plus – 2.99 CHF/month
• Premium – 7.99 CHF/month
• Metal – 13.99 CHF/month

The only advantage of the Plus compared to the Standard is to offer the delivery of the debit card and to be able to manage 2 child accounts <18.

The Premium is more interesting because it reduces your costs and increases your limits:

• Withdrawal limit of CHF 400/month instead of CHF 200/month
• 0.00% instead of 0.50% exchange commission
• 1.50% instead of 2.00% commission on cyrptocurrency trading
• 0.50% instead of 1.50% commission on stock trading

The Premium account is therefore interesting from 1,600 CHF of monthly exchange (0.50% of 1,600 = 8).

Conclusion

In conclusion, Yuh and Revolut are complementary because the Yuh account offers features that are not available with Revolut (IBAN CH, eBill, invoices QR and soon TWINT) and is cheaper than Revolut in certain situations.

Our recommendation is to open a free account with each neobank and to have the 2 debit cards in your wallet. which will allow you to always benefit from the better conditions and to have a “back-up” if necessary.