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With Zak Invest, Bank Cler is launching a new investment feature directly in Zak. As one of the first Swiss financial bloggers, I was given exclusive early access to Zak Invest in autumn 2025 - even before the official go-live. In this detailed test, I'll show you what the new trading service can really do, where it scores and where it (still) lags behind.
My conclusion in advance: Zak Invest positions itself as a premium middle ground between low-cost neo-brokers and traditional Swiss banks. With 12,000+ tradable instruments, the product selection is unbeatable. But beware: the uncapped custody account fee of 0.25 per cent p.a. becomes a cost factor for large portfolios (from CHF 50,000+). In the following article, you can find out who Zak Invest is suitable for and who it is less suitable for.
Zak Invest is the new trading feature in Zak, Bank Cler's smartphone solution. Zak customers can invest in shares, ETFs and funds directly in the app - without a separate broker app.
Not yet familiar with Zak? Find out all about the banking app here: Zak Bank Cler Field Report
The most important key data:
Depot opening in a few minutes
Transparency in costs is crucial. Here are all the fees in detail:
| Product category | Fee | Minimum | Maximum |
|---|---|---|---|
| Swiss shares & ETFs | 0,25% | CHF 5 | CHF 50 |
| International shares & ETFs | 0,50% | CHF 15 | CHF 300 |
| Investment fund | 0,50% | CHF 15 | - |
| Cost type | Amount |
|---|---|
| Deposit fee | 0.25% per year (without stated maximum) |
| Account opening | Free of charge |
| e-tax statement | From CHF 75 |
⚠️ Critical point: The custody account fee of 0.25% p.a. has no maximum. This becomes expensive for large custody accounts:
In comparison: Swissquote has a maximum of CHF 50 per quarter (= CHF 200/year), NEON and Yuh do not charge any fees.
As with all Swiss brokers, there are additional fees:
Important: Zak shows you all costs transparently before each trade. So there are no surprises.
Your key to success! Discover our top recommendations from real testimonials.
If you use the Zak Plus subscription (CHF 8/month), you save massively on trading fees:
| Trade volume | Normal | With Zak Plus | Savings |
|---|---|---|---|
| CHF 1,000 (CH) | CHF 5 | CHF 2.50 | 50% |
| CHF 5,000 (CH) | CHF 12.50 | CHF 6.25 | 50% |
| CHF 2'000 (USA) | CHF 15 | CHF 7.50 | 50% |
Invoice: Zak Plus is already worthwhile from a trading volume of around CHF 1,600 per month (CHF 8 / 0.5% = CHF 1,600).
Additional Zak Plus benefits for traders:
Preferred support
| Feature | Zak Invest | NEON | Yuh |
|---|---|---|---|
| Product selection | 12'000+ | ~300 | ~340 |
| Savings plans | ❌ (planned) | ✅ | ✅ (Some free ETFs) |
| Fractional Trading | ❌ | ❌ | ✅ |
| Crypto direct | ❌ | ❌ | ✅ |
| Asset Management Insights | ✅ | ❌ | ❌ |
| Share register entry | ✅ (free of charge) | ❌ | ❌ |
Winner Features:
How does Zak Invest fare against the established neo-broker competition? Here is a direct comparison:
| Category | Zak Invest | NEON Invest | Yuh |
|---|---|---|---|
| Swiss title | 0.25% (min. CHF 5) | 0.50% (min. CHF 1) | 0.50% (min. CHF 1) |
| International titles | 0.50% (min. CHF 15) | 1.00% (min. CHF 1) | 0.50% + 0.95% Currency |
| Deposit fee | 0.25% p.a. | None | None |
| e-tax statement | From CHF 75 | Free of charge | CHF 25 |
Winning fees:
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
In autumn 2025, I received one of the first accesses to Zak Invest for Schwiizerfranke - some time before the official launch. Here are my honest impressions and Zak Invest experiences from the test phase:
There are two ways to open a custody account directly in the Zak app:
The process itself is simple: accept the risk disclosure, confirm the custody account regulations and you're done. No separate legitimisation required as you are already a Zak customer.
Duration: More seconds than minutes, Special feature: Those who already use Zak Plus will immediately benefit from a 50% discount on all trades and will probably have a very positive Zak Invest experience
What works well:
What could still be optimised:
With 12,000+ instruments, Zak has the largest product range of all Swiss neo-brokers. The search function is solid:
Point of criticism: The most important product details such as TER, domicile and distribution type are sometimes awkwardly hidden. My test on 23 October 2025:
After finding the ETF in the app and displaying the basic information (name, ISIN, price), several steps are required: The link «Further details and market data» takes you to quotes.cler.ch, where initially only an overview with chart and value appears. The information you are looking for can only be found via the «Documents» section and by opening the fact sheet, which is rather cumbersome on a mobile phone.
The rocky road to TER, domicile and distribution method:
If you want to know the TER, domicile or distribution type of an ETF, you have to click through: The app only shows basic information such as name, ISIN and price. For the rest, you are redirected to quotes.cler.ch, where you then have to open the factsheet as a PDF. A bit tedious on a mobile phone - but doable.
5 clicks and 2 external pages for basic ETF information such as TER and domicile. That could be better.
The exclusive assessments from Bank Cler's Asset Management are a unique selling point. But are they really any good?
My assessment after the test: The insights are solidly prepared and provide a professional categorisation. I took a look at the analysis of Holcim, for example, which was only a few days old and very interesting. It is particularly helpful:
The insights are not a substitute for your own research. However, they serve as a quick check before a trade.
Conclusion: Nice-to-have for beginners, less relevant for experienced investors.
Every day, Zak Invest:
Exciting: The «most traded» are based on real trades by Zak users. This provides interesting insights into the sentiment and trends of the community.
Criticism: No period filter (only 1 day). Weekly or monthly top/flops would provide more context. As a long-term ETF investor, I don't think much of such lists.
Zak Invest offers two order types:
What is missing:
The basic functions are completely sufficient for buy-and-hold investors. Active traders miss a little more control here.
Zak shows a detailed cost overview before each trade:
No surprises, no hidden costs. Zak does everything right here.
1. uncapped custody account fee - killer for large portfolios
0.25% p.a. without a maximum is problematic. The other two neobanking apps do it better:
| Depot size | Zak Invest | Swissquote | NEON/Yuh |
|---|---|---|---|
| CHF 50,000 | CHF 125 | CHF 200 (max.) | CHF 0 |
| CHF 100,000 | CHF 250 | CHF 200 (max.) | CHF 0 |
| CHF 200,000 | CHF 500 | CHF 200 (max.) | CHF 0 |
| CHF 500,000 | CHF 1'250 | CHF 200 (max.) | CHF 0 |
Swissquote becomes more favourable from a custody account of around CHF 80,000, and NEON/Yuh are more attractive from CHF 50,000.
2. product details for hidden
Trading fees are transparent - great! But ETF details such as TER, domicile, type of distribution are hidden in 5 clicks on 2 external pages. This is annoying when comparing ETFs.
3. no savings plans at launch Automated investing will be standard in 2025. It's a shame that Zak won't follow suit until 2026. Savings plans would be particularly important for the 25-40 age group.
4. expensive e-tax statement CHF 75 for the electronic tax statement is steep. Some of the competition offers this at a lower price or even free of charge.
5. no fractional shares If you only want to invest CHF 500, you can only look at more expensive shares (e.g. Lindt, CHF 100,000+).
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
As with any Swiss broker, stamp duty is payable:
This is not a Zak-specific fee, but a government levy. NEON and Yuh also have to pass this on.
After my test, I can make clear recommendations:
✅ Zak Invest is ideal for you if you
❌ Zak Invest does not fit if you
After my early access test in autumn 2025, I draw a differentiated conclusion:
Bank Cler has already announced that it will incorporate user feedback into further development. Savings plans are already planned.
If Zak Invest delivers in 2026:
...then Zak Invest will become a serious competitor and could shake up the market.
I will stay tuned and update this article regularly.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
Want to try Zak Invest for yourself? As a Schwiizerfranke reader, you will receive the following when you open an account CHF 50 bonus + one free account.
Here's how:
→ Open a Zak account here with code CHFRAN
Not convinced yet? Find out more about Zak as a banking app here: Zak Bank Cler Field Report
Still undecided or Zak doesn't fit? In my Online Broker Comparison Switzerland you will find all trading solutions compared in detail.
Disclaimer: This article was created in collaboration with Zak from Bank Cler. The content and presentation have nevertheless been freely and independently designed by Schwiizerfranke.
The information on Zak is intended exclusively for persons domiciled in Switzerland. A Zak account can only be opened with domicile in Switzerland.
No, not available as of November 2025. However, the ETF savings plans are already being planned.
The custody account is in the name of Bank Cler. Details can be found in the custody account regulations when you open the account. Swiss deposit protection CHF 100,000 applies to accounts, securities are protected as special assets.
From 2-3 trades/month yes (50% brokerage discount). At CHF 8/month break-even after approx. 19 US trades or 38 CH trades per year. Plus: free cash withdrawals worldwide.
Yes, securities account transfer is possible. Ask Zak Support about the costs in advance (typically CHF 50-150 per position with other Swiss brokers).
Yes, free of charge! The only Neo-Broker with this feature. You can participate in general meetings and receive mail directly from the company.
No minimum investment when opening a custody account. De facto through minimum fees: CHF 5 (Switzerland), CHF 15 (international). Shares can only be purchased as whole units.
«In fractions of a second» when the stock exchange is open. Orders outside trading hours are executed when the stock exchange opens. US stock exchanges open at 15:30 Swiss time.
Securities are special assets and are held separately. In the event of Bank Cler's insolvency, they are transferred to other custodians. You will not suffer any loss (except through price fluctuations).
5,000 ETFs available: ishares, Vanguard, UBS, Xtrackers, Amundi. All major MSCI World and Swiss ETFs tradable. Tip: Use the product search in the app before opening a custody account.
The uncapped custody account fee becomes more expensive than with the competition from a custody account of around CHF 80,000.
Eric is the founder of Schwiizerfranke.com and certified IAF wealth advisor. Since 2019, he has been helping Swiss citizens to organise their finances comprehensibly, independently and efficiently.
📌 Note: This article is for information purposes only and does not constitute personalised investment advice.
Many thanks for the usual transparent test report! However, there is one point that is generally overlooked in the perception of Zak Invest: the lack of a cap on custody account fees for larger assets. What looks like «peanuts» for very small amounts turns into a horrendous wealth tax through the back door for serious wealth accumulation.
Anyone using Zak Invest for long-term wealth accumulation is underestimating the destructive power of the compound interest effect.
The sample calculation of horror:
Let's imagine a custody account of 150,000 francs. With a standard market return of 6 %, you already pay 375 francs in the first year just for safekeeping. As the fee is a percentage of the value of the custody account, it grows mercilessly with every price gain. Over 20 years, the lost fees including the lost compound interest add up to over 18,000 francs. That's not pocket money, it's a small car that you give to Bank Cler.
It gets really absurd with a deposit of 1,000,000 francs:
Anyone who has made it to millionaire status and stays with Zak will be asked to pay outright. 0.25 % per million means 2,500 francs in custody account fees - per year! By way of comparison: with capped brokers or flat-rate models, you often only pay 100 to 200 francs for exactly the same service.
Over a period of 20 years (with a return of 6 %), loyalty to Zak costs you a total of over 120,000 francs in end capital for a million-franc custody account compared to a provider with a flat fee or cap. In other words, you pay the equivalent of a luxury saloon car or a deposit for a flat just for the bank to manage a few digital positions.
As long as Bank Cler does not introduce a cap, Zak Invest is a trap for anyone saving more than a few thousand francs. Anyone thinking long-term should not have their returns eaten up by percentage custody account fees with no upper limit. Convenience may cost a lot, but certainly not six-figure sums.
Hello Eric
Thank you for your detailed report, which gives a good overview of the new feature at ZAK.
I already use SAXO but no entry in the share register is possible there.
I don't mind this for most titles, but for some, such as Swatch, I would like to have such an option.
Do I understand correctly that ZAK Invest has created a comparatively inexpensive way to register in the share register free of charge? I know that it is also possible with Swissquote, but the fees are a lot higher.
So would it make sense to use ZAK Invest in addition to Saxo for the securities for which you enjoy an advantage when they are entered in the share register? (e.g. Swatch) and hold the rest with Saxo (advantages: no custody account fee and free tax statement).
The volume held at ZAK Invest would then be manageable, as would the number of securities (the cost of tax returns is also reasonable, as there are only a few securities in the portfolio, which then have to be written off quickly; fortunately, the tax statement is free at SAXO).
Hello Max
Thank you for your exciting approach!
Yes, ZAK Invest does indeed offer free entry in the share register - this is an advantage that Saxo does not offer for Swiss securities with dividends in kind or perks (Swatch, Lindt, etc.).
The combination «ZAK Invest for selected CH shares with share register advantage + Saxo for the rest» can make sense depending on the situation. As long as you only hold a few shares with ZAK, the additional work involved in filing your tax return remains manageable.
Just bear in mind that the brokerage fees at ZAK Invest are higher than at Saxo - but for a small number of positions held over the long term, this is of little consequence.
Best regards
Eric
Nice comparison, thanks for that. Another important thing to mention is the treatment of dividends in foreign currencies. With Yuh it is booked to the respective foreign currency account, while with Zak it is converted into CHF. This is not free of charge and is likely to reduce the return.
Thanks for the addition, Michael!