ibani vs Neon: what does currency exchange cost, and why use both?

1. Comparison table

Terms published by Neon (price list of 1 October 2026) and by ibani, checked on 21 October 2026.

Criterion	Currency exchange and transit IBAN	Neon Swiss current account and card
Sending euros to an account in the euro area	0.40% to 0.15% depending on the amount, free SEPA transfer	0.8 to 1.7% international transfer via Wise, normally, according to Neon, depending on the amount and the currency
Transfer in euros to a Swiss IBAN	Not applicable	1.5% exchange mark-up, no processing fee
Receiving euros and converting them into francs	0.40% to 0.15% francs sent on to the account of your choice	Up to 1.5% converted into CHF on receipt
Current account with a Swiss IBAN	✗ No transit IBAN: funds are converted and then sent on (in manual mode, held until you give the signal)	✓ Yes account in CHF, no euro sub-account
Base fees	✓ No subscription	free: CHF 0 · plus: CHF 2 · global: CHF 8 · metal: CHF 15 per month
CHF transfer within Switzerland	✓ Free	✓ Free on all plans
Limit	✓ None no minimum or maximum exchange amount	CHF 50,000 per day all payments combined
Payment card	✗ No	✓ Debit Mastercard currency exchange abroad: 0.35% (free), no mark-up on the Mastercard rate (paid plans)
Cash withdrawal in CHF in Switzerland	✗ No	CHF 2.50 (free) 2, 3 or 5 free withdrawals per month depending on the paid plan
Deposit guarantee	✗ No no deposit: pass-through account	✓ Up to CHF 100,000 account issued by Hypothekarbank Lenzburg AG
Who can open an account	✓ Swiss residents and non-residents	Domicile and tax residence exclusively in Switzerland from age 15; B or C permit for non-Swiss nationals
After leaving Switzerland	✓ No Swiss residence requirement	✗ Account to be closed otherwise a charge of CHF 40 per month

Sources: Neon's price list (update of 1 October 2026), Neon's pages and FAQ; ibani's public pricing schedule. Checked on 21 October 2026, details in the Sources section. Terms may change.

2. What does currency exchange cost on each side?

The Neon account is held in francs: it has no euro sub-account. To send euros, Neon offers two routes, each with its own price, according to its price list of 1 October 2026:

• the international transfer, via Wise (20 currencies, euros included): at the mid-market rate, with no mark-up on the rate, but with fees that Neon says are normally 0.8 to 1.7% depending on the amount and the currency. The global and metal plans refund 20% or 40% of these fees, in return for a subscription of CHF 8 or CHF 15 per month;
• the transfer in euros to a Swiss IBAN: no processing fee, but a 1.5% exchange mark-up.

At ibani, the margin is 0.40% up to CHF 10,000 per transaction, then it falls in tiers. The SEPA transfer in euros is free.

Example: a CHF 6,000 salary converted into euros every month

The calculation: CHF 6,000 × 0.40% = CHF 24 a month at ibani. At Neon via Wise, CHF 6,000 × 0.8% = CHF 48 and CHF 6,000 × 1.7% = CHF 102: Neon publishes a range, not a single figure, hence an annual difference of between CHF 288 and CHF 936. If you use a transfer in euros to a Swiss IBAN instead, the 1.5% mark-up represents CHF 90 a month.

Example: a one-off payment of CHF 20,000

• ibani: CHF 20,000 × 0.35% = CHF 70 (the margin drops to 0.35% between CHF 10,000 and CHF 50,000);
• Neon via Wise: CHF 20,000 × 0.8 to 1.7% = CHF 160 to 340.

Above CHF 50,000, another factor comes into play: Neon caps payments at CHF 50,000 per day, all payments combined. ibani imposes no minimum or maximum.

These examples compare only the fees and margins published by each service. The market rate itself changes continuously.

3. What Neon does better than ibani

Neon is a Swiss current account; ibani is not one. For day-to-day banking in Switzerland, Neon offers what ibani does not:

• A current account with a personal Swiss IBAN, where you can receive your salary and keep your money.
• A free plan with no base fees, with free CHF transfers to Swiss IBANs.
• A Debit Mastercard: 0.35% on foreign-currency payments with the free plan, no mark-up on the Mastercard rate with the paid plans.
• Cash withdrawals, including 2, 3 or 5 free withdrawals per month in Switzerland depending on the paid plan.
• The deposit guarantee: according to Neon, the account, issued by Hypothekarbank Lenzburg AG, is protected up to CHF 100,000.

If you live in Switzerland and are looking for an account to receive your salary, pay and keep your money, ibani is not the answer: that is the role of a current account such as Neon.

4. What ibani does better than Neon

ibani does only one thing: convert currencies and transfer them. On that specific point, the published terms differ:

• Sending francs as euros: 0.40% up to CHF 10,000, then 0.35%, 0.30%, 0.20% and 0.15% depending on the amount, against 0.8 to 1.7% via Wise or 1.5% to a Swiss IBAN at Neon.
• Receiving euros and converting them into francs: Neon converts any payment received in a foreign currency into CHF, with a mark-up of at most 1.5%. With an ibani EUR to CHF IBAN, the conversion is done at the ibani margin, then the francs are sent on to the account of your choice, your Neon account for example.
• No subscription, whatever the volume.
• No limit: no minimum or maximum exchange amount, and no limit on frequency or volume, whereas Neon caps payments at CHF 50,000 per day.
• Automatic conversion on receipt, or manual if you prefer to choose the moment. Funds received on a business-day morning are converted and sent on within half an hour.
• Access without Swiss residence: ibani is available to cross-border workers and to people who have left Switzerland.

How it works is described step by step on the How it works page.

5. How to combine Neon and ibani

The two services overlap only on conversion, and that is the only step you hand over to ibani:

1. Keep Neon as your current account: salary, card, payments in Switzerland.
2. Open an ibani Swiss IBAN for the currency pair you need, for example CHF to EUR, and enter the destination account for the euros.
3. When you have francs to convert, transfer them from Neon to your ibani IBAN, in CHF. According to Neon, a CHF transfer to a Swiss IBAN is free on all plans.
4. ibani converts at the market rate plus its published margin, then sends the euros by free SEPA transfer.

The reverse route works too: if you receive euros (rent from a property in the euro area, a refund, foreign income), have them paid into an ibani EUR to CHF IBAN, which sends the francs on to your Neon account.

6. Cross-border workers and leaving Switzerland: who can have a Neon account?

Neon's price list restricts the account to individuals aged 15 and over who are domiciled in Switzerland and whose tax residence is exclusively in Switzerland; foreign nationals must hold a B or C permit. Neon's FAQ on cross-border workers confirms this. Unlike Yuh, which has suspended account opening, this is an account-opening condition written into the price list: a cross-border worker who lives in France, Germany or Italy cannot open a Neon account. The options that remain open to them are covered in our guide Yuh alternatives for cross-border workers.

The same rule applies when you leave: according to the same price list, moving your domicile or tax residence abroad is not permitted, and the account must be closed, failing which a charge of CHF 40 per month applies. If you are leaving Switzerland, plan for an account in your new country of residence. ibani does not require you to live in Switzerland and remains usable for converting francs after you leave.

7. Who provides what: status of the two services

Conclusion: a current account on one side, a currency exchange service on the other

Neon is a Swiss current account in francs, with no base fees on the free plan, a debit card and the deposit guarantee. It is reserved for people domiciled in Switzerland, and sending euros normally costs 0.8 to 1.7% via Wise.

ibani does not replace that account. It handles the conversion: 0.40% up to CHF 10,000, less and less above that, with no subscription or limit, and automatic forwarding to the account of your choice. As soon as you convert regular or large sums, routing those francs through ibani reduces the cost of currency exchange without giving up Neon.

No opening or account maintenance fees · Affiliated with SO-FIT (SRO)

Read also: ibani vs Yuh · ibani vs Revolut Standard · ibani vs a traditional bank · Exchange rate comparison