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Kaspar& Field report

What happened to Kaspar&?

Kaspar& was a Swiss fintech company that launched in 2022 with a clever idea: every card payment was automatically rounded up to the nearest pound and the «change» was invested directly. It also offered a free account, a Mastercard and, later, a pillar 3a pension plan.

In November 2025, Kaspar& announced that it would focus entirely on B2B business, i.e. offering banking-as-a-service to other banks. Direct customer business was discontinued on 8 December 2025.

The partnership with Hypothekarbank Lenzburg has been terminated. Existing customer relationships have been dissolved.

What does this mean for former Kaspar customers?

If you were still a Kaspar customer, you had two options:

  1. Payment: Your investments have been sold and the amount transferred to your designated account – free of charge.
  1. Deposit transfer: You could have your investments transferred to another Swiss custody account. Cost: CHF 100 per investment fund.

    My tip: For most people, transferring their portfolio is not worthwhile. For three funds, you would already be paying CHF 300 – just to hold the same or similar products elsewhere. A cheaper option is to withdraw your money and reinvest it with a new provider such as True Wealth or finpension invest. These providers do not charge separate purchase fees. You will be «out of the market» for a few days, but with typical Kaspar& amounts, this makes little difference.

     

Important: Customers who held their securities accounts with Acrevis Bank were not affected by the closure.

The best alternatives to Kaspar&

Depending on what you used Kaspar& for, there are various alternatives to consider:

For automated investing (robo-advisor)

If you have come to appreciate the convenient asset management services offered by Kaspar&, you will find similar solutions from these providers:

  • True Wealth – Established Swiss robo-advisor with low fees and a wide selection of ETFs
  • Descartes Invest – Modern investment solution with flexible strategies
  • finpension – Automated management at excellent terms

👉 To the big robo-advisor comparison for the United Kingdom

For pillar 3a

If you have used Kaspar& Säule 3a, there are significantly cheaper alternatives:

  • finpension 3a – Lowest fees on the market, up to 99% share allocation possible
  • VIAC – The pioneer among digital 3a solutions
  • Frankly – Solid solution from Zürcher Kantonalbank

👉 To the big pillar 3a comparison

For a free account and card

The free account with worldwide payments at the Mastercard reference rate was a plus point for Kaspar&. You can find something similar here:

  • Yuh – Free account, card and easy investing in one app
  • Neon – Popular Swiss smartphone bank with free account
  • Zak – The neo-bank of Bank Cler

👉 To the big bank comparison in Switzerland

For micro-investing and savings plans

Rounding up every payment was Kaspar&'s unique selling point. There is currently no 1:1 alternative. The next best option:

  • Yuh – Offers fractional investing from £25 and simple savings plans
  • Neon Invest – ETF savings plans directly in the Neon app

👉 To the Yuh experience report

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"Intelligent people learn from the mistakes of others".

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My assessment of Kaspar&-Aus

The idea behind Kaspar& was sound: make investing so easy that it happens almost without you noticing. Especially for beginners, rounding up was a clever psychological trick to get them to start investing in the first place.

However, the business model was probably difficult to scale in small Switzerland. With micro amounts from rounded-up coffee payments, it is hardly possible to build up enough volume to become profitable. It is understandable that Kaspar& is now focusing on B2B and licensing the technology to other banks – but this is naturally annoying for end customers.

The good news is that the Swiss market now offers many solid alternatives. And to be honest, Kaspar&'s fees of 0.85% for a robo-advisor were at the high end anyway. With True Wealth or finpension invest, you pay less.

FAQ

No. Kaspar& discontinued its private customer business in November 2025. It is no longer possible to open new accounts.

Existing customer relationships were terminated on 8 December 2025. Investments were either paid out or could be transferred to another securities account for a fee.

 

If you had a pillar 3a with Kaspar&, you should transfer it to another provider. You can find the most affordable options in our Pillar 3a comparison.

16 responses

  1. With Neon you can implement ETF savings plans free of charge. The selection is not bad. I need NEON and WISE, Wise offers good options for foreign payments and has a very good exchange rate. Yuh can invest "fractionally" in ETFs, which is unfortunately not possible with NEON.

    Reply

  2. Hello
    I need a card to pay for my holidays. "Pay anywhere in the world free of charge and even at the Mastercard reference rate" sounds really good.
    Is it possible to directly compare the "Mastercard reference rate" with Revolut, Neon, Wise? Is it always lower/higher than the others or does it vary?

    Reply

    1. Some providers show their exchange rate fees transparently, but these are very few. Practical comparisons and payments are probably the most obvious solution.
      In principle, the reference price without a premium is of course very attractive.

      Reply

  4. Hello, what do you think about Radicant? How does Radicant compare to Yuh, Neon, Kaspar&? Are there already comparisons to Radicant? Thanks for any information :-)! Kind regards, Jürg Rieben

    Reply

      1. I am also testing the two and comparing them with Yuh. I've known Yuh from day 1 and am very satisfied (for me it's still the best app and the best neobank). I'm very disappointed with Radicant (terrible support (late response or no response at all) and rather meagre functions)... Radicant is out for me (like Alpian before it... both too close to the old bank feeling :-()). I like Kaspar& quite a lot so far... the support is also fast and competent!

        Reply

  6. Hello,
    I am interested in Kaspar& because unfortunately, as a cross-border commuter, my employer requires me to have a Swiss account, which I have no use for in everyday life.
    I am therefore looking for an account that allows a monthly transfer from CHF to a foreign account in EUR with as few fees as possible. What about these transfer fees at Kaspar& ?
    Many thanks in advance!

    Reply

    1. Dear Sophia,
      you will definitely find a free account with Kaspar&.
      By the way, you can also make larger transfers in foreign currencies with Wise from any account at very low cost.
      You can find more good smartphone banks here.

      Reply

  7. Hello Eric
    You mentioned in the blog article that neon and kaspar& are in your wallet. My first question would be how do you use the cards? Do you only pay with the kaspar& card or when or for what do you use your neon card? My second question would be which Twint app do you prefer for neon, the prepaid Twint app or do you prefer to pay directly through UBS Twint?
    Thank you in advance 🙂

    Reply

    1. Hello Eric Gasser 🙂
      Abroad I mostly use Neon, Revolut and Kaspar& due to the favorable exchange rates.
      Within Switzerland, I use the free cash withdrawals with Neon. Whether and how you pay with Kaspar& (and therefore invest automatically) depends on your personal plans. You should proceed as it makes sense for you 🙂

      With Neon, I use the UBS Twint app, which has worked wonderfully for me so far, so I haven't tested the alternative yet.
      More info in the Neon Contribution.

      Reply

    1. Hello Adrian
      at Yuh you can make targeted investments, but as you write, only from a selected pool. This pool will probably grow further in the future.
      With Kaspar& you set a savings target and then you have the option of customising the "investment basket". For example, you can choose focus themes. Individual investments (e.g. 100% in ABB shares) are possible with Yuh currently not yet possible.
      Both apps have advantages and disadvantages and are free of charge in the basic function. Just test them yourself 🙂

      Reply

  9. Thanks for the hint in the newsletter. I did not know Kaspar. The review is very detailed and I think Kaspar is good for beginners. I will install the app and test it!

    Reply
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