Reviewers at Monito commend Swiss neobank Yuh as an outstanding online account and card solution earning an 8.4/10 score for its appealing fee structure which achieves 9.4/10 points. The platform enjoys trustworthiness from Swiss financial sector stakeholders and receives a 9/10 rating regarding reliability (9/10). The functional aspects of Yuh’s account and card solutions received average ratings from us (7.3/10). Yet their app lacks customer feedback (7.8/10) and shows moderate delivery limitations (7.3/10).
Is Yuh trustworthy
The Yuh banking app operates as a completely secure platform where users can put their trust in storing their funds.
The banking platform is a subsidiary of two respected Swiss banking groups Swissquote and PostFinance while sharing its resources and offering advanced financial products including currency exchange and investment opportunities.
According to the assessment, Yuh delivers exceptional capabilities for “paying, saving and investing” through its user platform. Let’s go through them one by one:
Paying
With Yuh, you can make regular payments through your card along with viewing and managing your balance within the app interface. Through the app, users can send and receive international and Swiss transfers which generates a Swiss IBAN for your account making this feature usable for day-to-day financial transactions. Users find the app restricted by its inability to execute standing orders or e-bill orders while it remains less capable than a standard bank account system. Users who maintain international lives can benefit from the app’s ability to support 13 foreign currencies which it exchanges at reduced rates.
Saving
Through Yuh’s ‘projects’ tool you can establish separate savings areas which operate like accounts for your short-term and long-term financial objectives (earning interest on CHF EUR and USD deposits). After you create a savings project the app tracks your progress while sending notifications to keep you from spending your savings. We appreciate Yuh’s commitment to feature parity with other neobanks through its projects function although this option has become quite common.
Investing
The ability for users to invest and buy fractional shares makes Yuh stand out from other neobanks operating in Switzerland. The application lets users begin investing in more than 200 prestigious companies with minimum share purchases starting at CHF 25 while permitting investments in distinctive portfolio themes like vegetarian pharma and cannabis. Yuh enables automated investment capabilities to set your preferred timing and amounts for investments which then triggers automated trading operations. The built-in crypto trading capabilities of Yuh along with its other features result in a complete and distinctive offering which stands out in our view from similar finance apps. The Yuh platform welcomes new investors with CHF 20 of trading credit to use for shares ETFs and themes through the YUHMONITO code when you register.
As an additional feature, Yuh allows users to access many of the options found in the YUH card’s services. You can use the Yuh card as your debit Mastercard with its basic black design. The Yuh platform supports contactless and online payments while enabling transaction spending across all currencies loaded on the platform balance.
The multi-currency functionality stands out at Yuh among Swiss banks and neobanks and makes their card similar to traditional debit cards for Apple Pay, Samsung Pay and Google Pay payments. Your Yuh account will receive the card delivery in approximately four working days without charging any costs for delivery.
What are Yuh’s fees
Free banking services form the core of Yuh’s value proposition which delivers on its promises when you use it as your daily banking platform. You will need to pay a few reasonable fees to Yuh if you use international services or investment features on the platform. As summarized below:
ATM withdrawals in Switzerland
Swiss customers can withdraw from bank ATMs free of charge each week but every subsequent withdrawal costs CHF 1.90.
ATM withdrawals outside Switzerland
CHF 4.90 per withdrawal.
International bank transfers
CHF 4 per transfer (plus a possible correspondent bank fee from third-party banks).
Currency exchange operations: 0.95% of the transaction value.
Trading of stocks, ETFs, and themes: 0.50% per trade.
Trading of crypto: 1%
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