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Yuh vs Revolut – October 2023 Comparison

Philippe

July 13, 2023

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If you compare Yuh with Revolut, you are probably looking for 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 or Credit Suisse because they generally offer better exchange rates with very little transaction fees.

Yuh and Revolut are digital banking apps that provide convenient and user-friendly financial services. Yuh is a neobank that offers a bank account with IBAN CH and allows you to have a main account in CHF, EUR or USD, as well as sub-accounts in several currencies (13 in total). They also offer a Yuh Card: a prepaid Mastercard for online and offline purchases.

Revolut, on the other hand, is a UK-based neobank known for its mobile 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.

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.

Yuh vs Revolut Switzerland – Which neobank to 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 (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 – Account features

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.

1 point for Yuh

Yuh vs Revolut Switzerland – IBAN CH

As a Swiss neobank, Yuh offers a free bank account with personal 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 IBAN LT and an IBAN CH, but the problem is that the IBAN CH is not a Personal IBAN: it is not in your personal name but in that of Revolut, which does not allow you to use it in all situations.

You will not be able to use Revolut to transfer funds Flowbank for example, as Flowbank requires the funds to be credited from an account in your name.

1 point for Yuh

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 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 withdrawal in 5 installments, 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 withdrawal:

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

1 dot everywhere

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</strong >, 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.

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 – Trading Fees

The first step to buying stocks will probably be to change CHF into USD or EUR, and as seen above, Yuh is generally 0.50% more expensive than Revolut on the currency exchange.

But after taking into account this 0.50% difference, Yuh is still cheaper than Revolut on Stock and Crypto Trading. currencies..

You should also take into account that Yuh can easily edit a tax statement for your tax return, which will not be the case with Revolut.

If you are looking for a neobank to do Trading, see our Flowbank review which offers lower rates than Yuh and Revolut.

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.</ strong>

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.