What makes Zak stand out as an online and smartphone bank?
With Zak, Bank Cler launched Switzerland's first fully-fledged smartphone bank in 2018. Today, Bank Cler offers a rounded offering of digital and offline banking. Because as a Zak customer, you also have access to all Branches of Bank Cler.
Zak is very innovative and is always coming up with new useful functions. Solutions such as the savings pots stand out in particular. These are interesting for couples, for example, who are looking for a Swiss Partner Account are. Money can be conveniently split between people here, provided both partners have a Zak account.
Before you learn more about the details and the Zak Bank Cler experience, you can find the review result here:
How much does a tax statement actually cost here?
Hello Sany
At Zak Invest, it costs CHF 75 – but you don’t need one for the «standard» Zak account; the standard, free statement is sufficient here.
Many thanks for the summary. However, I do not find the report objective enough in one crucial point: the article does mention the trading fees from CHF 5, but the custody account fee of 0.25% p.a. is treated as a side note. The problem is that this fee is not capped. For investors with a larger portfolio, Zak quickly becomes a cost trap compared to other brokers or neobanks. While the fee for a CHF 10,000 custody account is still a moderate CHF 25, for CHF 100,000 it is already CHF 250 per year - just for custody. Zak may be okay at best for occasional investors with very small amounts, but for serious asset accumulation it performs significantly worse in comparison to competitors (such as Neon, Yuh, Saxo etc. with 0% custody account fees) due to the percentage-based, uncapped custody account fees.
Hello Roger,
That is absolutely the case. Very few people will have such large assets under management with a neo-broker app, but if they do ...
In any case, all Zak Invest topics are only touched on here in the general banking experience report. The details (and also the fees) can be found in the Zak-Invest experience report described in more detail 🙂
Hi Eric
Is your code CHFRAN still valid?
LG
Of course 🙂
I don't understand why UBS is always portrayed as expensive in situations like this. We pay CHF 15 per month for a «Family» account, which gives us two private accounts and unlimited savings accounts as well as free credit cards. That seems to me to be a much better offer than most other banks.
If you think that CHF 15 is the only fee you pay, you are sadly mistaken.
Account management fees are only part of the bigger bill. The UBS offer is not bad, on the contrary, but it comes at a price. Here are a few insights into the UBS test report.
I am looking for a bank with a balance preview in the app, like CS used to have, based on actual invoices and standing orders. I transferred to UBS, and these hypothetical insights are of no use to me. In addition, the bank charges 30 centimes for each domestic transfer/standing order, plus CHF 5/month for account management. This costs me 10-12 Swiss francs every month.
I had opened an account with YUH, but there is no balance preview there either. Furthermore, even with support, I cannot get the TWINT app to work.
I've also been using neon (free) for a few years now, but I haven't quite brought myself to transfer everything to neon Bank yet (there's no balance preview either).
This is important feedback, which I will gladly pass on to my contacts at the online banks! Neon, for example, has AI insights that offer very exciting analyses of spending – previewing your balance should actually be easy to implement!
Hello Deb
The balance preview is also very important to me. If you are still looking, Migros Bank has it.
Greetings
Nadine
Hi Eric
Thank you for your comments:-)
I opened the account and immediately created Zak Savings -> the annual withdrawal amount is now CHF 50,000.
Your code for CHF 50 worked great and was credited within 24 hours:-)
Many thanks and best regards Thomas
I'm glad - thanks for the feedback 🙂
Hello, Eric,
I am looking for a suitable account for my 87 year old mother. She is with a traditional bank and therefore has relatively high expenses. We pay her bills via app or LSV and we have one ATM visit per month. What would be an optimal simple solution that we could set up for our mum and that we also have access to or can help her pay bills? Some interest would also be great of course? Is there anything sensible for senior citizens?
Many thanks
Urs
Hello Urs,
then I would suggest you take a look at the Bank comparison to see. Free cash withdrawals + interest with free account management are available there!
Because of her age, you will have to see how she can handle online banking etc. (unless you take over all the tasks involved).
Otherwise a suitable local bank?
Are you sure this is the 2025 experience report? "Zak offers +1.00% interest on your normal Zak account" - this is probably no longer true as of February 2025. Currently it's probably more like 0.1% up to 25k, then 0% (https://www.cler.ch/de/info/zinssatze-fur-privatkunden#zahlen).
Thanks for pointing that out, Joe. The interest rates were recently adjusted (again) - the article is now up to date again.
Thank you Schwizerfranke for the useful contributions.
I'm still looking for a place for my nest egg and came across ZAK because of the high interest rate.
Is a ZAK account only suitable as a savings account and possibly as a second salary account (with several incomes)?
Hello Cusi,
definitely, Zak has very exciting functions, such as the savings pots or, for example, the savings account with quite high interest rates.
If you spend a lot of time abroad, there are more favourable exchange rates at alternative banks, but otherwise you'll do very well with Zak.
At the moment, it's definitely worth checking out the latest ZAK/Cler reviews on Trustpilot. Something seems to have gone very wrong recently.
https://ch.trustpilot.com/review/cler.ch
Thanks for the tip - it's important, but be careful: This is how it looks on Trustpilot for almost every bank, because usually only disgruntled customers report online (satisfied customers don't write, while disgruntled customers write back). very out loud - unfortunately that's the way it is on the Internet).
According to the report, Bank Cler has over 250,000 clients, while only 175 people have commented on Trustpilot, i.e. less than 0.07%. Just to put it into perspective.
Hello,
Can you inform me if it is possible to open an account as a french national and resident and if yes the foreign transfers fees please.
Thanks,
Jean
Hello everyone - can the "partner account" be used as a direct debit? In other words, if my partner and I want to pay mortgage interest by direct debit from a partner account, does ZACK Bank also make sense here as a Zak partner account?
Many thanks and greetings
Hello, I would be interested in Zak as a partner account. As I understand it, it is not possible to open a joint account, is it? The account would then be in the name of a partner (also relevant for tax purposes)?
But would it theoretically be possible to use a second debit card?
Previously, two accounts had to be opened (which are then also allocated to each individual for tax purposes). Joint expenditure can then be managed via a linked savings pot. This means that two debit cards are also available, but these belong to separate accounts.
so i've tried Zak now and so far i'm pretty dissatisfied. the good thing was i was able to open it with my temporary residence permit, but otherwise i don't find anything good about it.
The app has been down several times in the last few weeks and I find it very confusing. You can't find bank details, only the IBAN, which is often not enough. The pots are not intuitive and not suitable for saving. I will cancel the account again as soon as I have found a new one.
Thank you for your feedback.
Each app has its own design, of course, and is ultimately a matter of taste.
Regarding help in the Zak app, I can highly recommend the chat function. If you enter "BIC" there, for example, you will instantly receive the BIC of Bank Cler.
You can find an alternative smartphone bank with savings function here.
ZAK is unfortunately out of the question for me just because of the bad exchange rates and/or hidden foreign currency fees.
Nevertheless, I registered with ZAK as a test (keywords "skin in the game") and in July 2022 I made two credit card payments in euros less than three minutes apart (in the same online shop).
ZAK (Visa prepaid) charged CHF 27.14 for EUR 26.87, Neon (Mastercard prepaid) charged only CHF 26.29 for EUR 26.89.
All in all, ZAK added 3,31% to the Neon price in this example! This is really not a good price, and larger sums can add up to quite a bit.
Hello, Eric,
Thanks for the review. What about negative interest rates? Haven't found anything on this...
Hi Karin, as far as I know there are currently no negative interest rates at Zak. Currently, there are even signs of an interest rate turnaround by the US Federal Reserve, so the issue may soon no longer be relevant anyway. If you want to be sure, just ask Zak. Or you can switch again if negative interest rates are charged.
Zak has now replaced the Maestro card with a (full-fledged?) VISA debit card and the costs abroad have also been reduced. Could you take this into account in the article, or adjust? Thank you.
The update is already in progress 🙂 Thanks for pointing it out!
Yuh... Hello, I would recommend the new Yuh app from PostFinance/Swissquote, I think it's absolutely amazing. lg
Hey Reto, I'm currently testing Yuh myself. However, I find it difficult to make a direct comparison. Yuh is a combination of bank account and trading platform. That sounds exciting (it may be for many - don't get me wrong), but I personally quickly come up against the limits of Yuh's attractive offering.
If you use Yuh as a bank account, it bothers me if I can only withdraw cash once a week. If you use Yuh for trading, it bothers me that the fees are higher and the offer is narrower than with comparable brokers (such as Swissquote direct).
For the entry certainly interesting because everything is kept simple and simple, or for digital minimalists (fewer apps / accounts on the phone). Nevertheless, Yuh has its justification and I am generally pleased that some movement comes into the online broker market in Switzerland because here we lag behind the offer in our neighboring countries years.
What makes yuh special to you 🙂 Thanks for your feedback!
Hello,
I understood that the ZAK Prepaid VISA card you described is available as a plastic card. But Bank Cler said it was only available virtually. Is that so?
Thanks for the answer
Hello Silvi
The prepaid card is a virtual card. It can be digitally attached to your normal Zak card if you wish: You top up the virtual card with credit and can therefore "delete" it again very easily. This is particularly advantageous if you pay at places where you are concerned about the security of your payment data.
Does that help you? 🙂
Dear greetings
Yes, merci vielmal
Hi Schwiizerfranke!
Couple of questions:
- does your Zak referral code still work if I were to open an account now? (is it still 50 opening balance?)
- do you know whether Zak plan on having their own Twint ? (i.e. not the UBS free for all)
Thanks!
Hi Chris
thanks for your message!
Yes and yes! The code is still working and TWINT is available already now with Zak!
Cheers 🙂
Hello Eric
Does this still apply a year later, meaning does the Zak Referral Code still work today?
Greetings and thanks
Hello Nicolas, yes the code still works today and credits you CHF 50 🙂
All right, thank you 👍
I do not agree with Bank ZAK. Response time from customer service takes 1 week and app partly does not work properly.
Anyway, I cancelled the account with them again today. Too unreliable for me.
Hello Schwiizerfranke
Can I also create a rental or deposit account with ZAK (or NEON)?
My landlord wants either that, or a bank guarantee (for 150 CHF+ per year)
Hello, Bernd,
with Zak and neon not directly. Zak belongs to Bank Cler, where you can do this for example: https://www.cler.ch/de/privatkunden/sparen/mietersparkonto
The same applies to the Migrosbank or other places, just pay attention to the fees.
Many greetings
Eric
Which banks are currently most worthwhile in Switzerland? At the moment I and my wife each have an account with ZKB with various savings accounts, 3a as well as a joint household account (a 2 cards)... but it also costs around 100.- pP..... per year. Lg
Hello, Christoph,
Thank you for your message!
An account or a bank must of course always fit your needs. The ZKB account with all Add Ons is certainly justified. But if you say that the 100CHF is bothering you then you can consider a change.
For this I can recommend to open the new account first and test it on the side and then move everything bit by bit. This gives you the possibility to test and avoids chaos or forgotten bills etc.
In general, it can also be said that a comparison of the individual products is often worthwhile. As with insurance, it is often a good idea to look at the products in detail. In other words, choose a good, suitable bank account and consider the 3a solution separately. This way, you can choose the variant that best meets your requirements.
To answer your question: A recommendation suitable for everyone cannot be made. For example, I use Zak and Neon as bank accounts, and Viac for pillar 3a.
Many greetings!
Hello Schwiizerfranke
I'm actually thinking about trying out Zak and Neon. I have a question about Neon. In your experience report you write: "We negotiated with Neon and landed a deal for you: Free account incl. cards and 10CHF starting credit as a gift with the code Schwiizerfranke" Is that still the case? Since Neon advertises the card on their website with 10 Fr for the plastic, so the card probably costs 10 Fr?
Hello Georg,
Thank you for your message and for studying the articles carefully!
Yes, the offer at Neon is still valid (if this changes, we will change the article) You will get 20CHF as an indirect gift. The card is free of charge and the 10HF starting balance will be credited to your account a few days after opening the account. Provided you enter the code Schwiizerfranke.
With Zak, you can enter the code CHFRAN after opening an account and you will be credited with 50CHF 🙂
Many greetings and see you soon!
Eric
Hi, Eric,
thanks for the answer, then I will try only neon for now (need the card mainly to make online purchases in foreign currency)
George