Neon experience.

[Tux Rock]

Hi,

Just to share my experience with Neon (free) :

On May 8 I activate my account: date of the first payment to Neon.

On May 12, I received a message "Your Mastercard is waiting to be sent. Please transfer money to be ready for neon.". The Mastercard has already reached me... Customer service responds completely wrong.

On May 23, I still haven't received the money from the "promo code" that I used when opening. Customer service replied, "The payment process for promotional credits is done manually with us. It can take up to two weeks before you receive the money."

On May 30, I reported that card debits which had been pending for 7 days... Response from customer service "Our partner bank noted that payments (incoming and outgoing) with the card made around 05.23.24 did not have not been recorded on the account They will proceed to the accounting soon.

On May 31, I reported that my card was declined and appears to have been inactivated. Customer service response "Sorry, the system blocked your card by mistake. We have now unblocked it and it should work.". Luckily I had cash...

On June 3, still nothing received for the "promo code" even though it should have been done for a long time, relaunch...

On June 4. Response "the starting credit of 10 CHF by a negotiation credit of 30" which is contrary to what was told to me on 23.5

On June 11. Unable to connect "it didn't work".


So of course, it's free but frankly: unjustified messages, manual processing, contradictory information (promo code changed), operations not recorded, card blocked "by mistake", connection impossible.

A positive point though, customer service responds even if their first response was off, the other responses were quick.

But overall, this is not recommended.

Tux.

 

[Michael]

Similar reports on the internet led me to choose Yuh instead. No issues so far for myself.
I've never used Neon but I know many are actually satisfied (including @Baptiste Wicht if I recall correctly)...

But even if it was bad luck, I don't think that would keep me there if this would've happened to me

 

[Baptiste Wicht]

Thanks for sharing your sad experience with Neon.

Except for the salary-day issues in the past, I never had a single issue with Neon. But I have heard a few stories of the sort, unfortunately. It appears that they still need to figure out some technical difficulties.

 

[LeBad]

I use Neon free since march.
Payement by credit card in europe, Invest, Spaces... everything works well for me.

 

[Lelouch]

I received an email from Neon asking for feedback on missing features. I'd be interested to know what everyone answered!

I personally went with:

• Neon Twint
• Virtual Cards
• Other: Better Expense tracking and Budgeting, like Revolut

 

[Max]

I received an email from Neon asking for feedback on missing features. I'd be interested to know what everyone answered!

I personally went with:

• Neon Twint
• Virtual Cards
• Other: Better Expense tracking and Budgeting, like Revolut

Neon hasn't asked me, but my answer would be: an indicator for the sum of future payments for the current month.

 

[Lelouch]

Neon hasn't asked me, but my answer would be: an indicator for the sum of future payments for the current month.

That's a good one yeah! I think it would be easy to implement as well.

 

[Baptiste Wicht]

I received an email from Neon asking for feedback on missing features. I'd be interested to know what everyone answered!

I did not get asked either. Virtual cards would be nice indeed. Better support for Neon Duo (Spaces, Invest, Metal, ...) would be nice as well.

Neon hasn't asked me, but my answer would be: an indicator for the sum of future payments for the current month.

Excellent one! Every month, I have to sum up everything manually

 

[Lelouch]

Hmm it's curious, maybe they only sent the email to people who don't use the app?

I did the questionnaire again (it's a typeform questionnaire, I have no idea if it's linked to the email), I added Max's idea. And also added the possibility to choose a different design for the card because I find the bright red card really awkward.

 

[Baptiste Wicht]

And also added the possibility to choose a different design for the card because I find the bright red card really awkward

On this subject, I was recently discussing custom designs with another card company and I was surprised to find out that there were not that cheap. This is often why come with premium packages. Unless you are a huge emitter like Cembra, the cost per card can be significant.

 

[Lelouch]

On this subject, I was recently discussing custom designs with another card company and I was surprised to find out that there were not that cheap. This is often why come with premium packages. Unless you are a huge emitter like Cembra, the cost per card can be significant.

Well that must be why Neon charges 20.- for the card then^^
Props to Yuh for sending it free of charge then. Still you'd think changing a color wouldn't be that much expensive if you already pay 20.- for it.

 

[Lelouch]

By the way I've seen people online wondering if Neon's savings plan with 0% fees will end anytime in the future, in a recent email Neon has confirmed that the offer is permanent:


I don't know if this has already been discussed but from what I hear from people, it's still something that is not very clear for the users.
And that makes me curious @Baptiste, on your broker comparison tool, did you use the 0% world ETF from the savings plan to calculate the fees?

 

[Baptiste Wicht]

An offer can be permanent temporarily these days. I do not expect it to happen, but it is possible.

@Baptiste, on your broker comparison tool, did you use the 0% world ETF from the savings plan to calculate the fees?

No, because this would severely limit the scope of the results.

 

[housi]

The neon offer with 0% courtage fees looks quite interesting. Eg. in combination with Invesco FTSE all world (0.15% TER) or Invesco S&P 500 (0.07% TER or something i believe).
I wondered though how the withdrawal of that savings plan works. Do you have to wait until the 3rd of the months if you want to liquidate these assets as well? That would be quite a handycap if that is the case.

 

[Baptiste Wicht]

The neon offer with 0% courtage fees looks quite interesting. Eg. in combination with Invesco FTSE all world (0.15% TER) or Invesco S&P 500 (0.07% TER or something i believe).
I wondered though how the withdrawal of that savings plan works. Do you have to wait until the 3rd of the months if you want to liquidate these assets as well? That would be quite a handycap if that is the case.

There is nothing special about the withdrawing. The plan only works for the investing. You can sell everything when you want, with fees.

 

[Lelouch]

I wonder what's going on over at Neon... after reading this article (https://insideparadeplatz.ch/2024/12/27/mobil-bank-neon-vor-verkauf/) I went to check my mails, and what a rollercoaster.
First they announced that the data collected by the app is no longer anonymized, which I think is the first time I hear a bank doing that. Then they announce that all payments will be suspended from 31.12.24 until 3.01.25, even movements from Spaces to Main Account, which is absolutely insane.

 

[Baptiste Wicht]

I wonder what's going on over at Neon... after reading this article (https://insideparadeplatz.ch/2024/12/27/mobil-bank-neon-vor-verkauf/) I went to check my mails, and what a rollercoaster.

I would be careful about the content of insideparadeplatz, they often insist on the dramatic, without much evidence.

I have not heard anything from Neon on that end, and I know that they have significant plans for 2025. But it's definitely true that the competition is quite aggressive these days.

Then they announce that all payments will be suspended from 31.12.24 until 3.01.25, even movements from Spaces to Main Account, which is absolutely insane.

I am not sure if they can do much about that if the HBL bank has this limitation. Maybe they did not choose the proper partner bank, but it's a bit late to change.

 

[Lelouch]

I would be careful about the content of insideparadeplatz, they often insist on the dramatic, without much evidence.

I have not heard anything from Neon on that end, and I know that they have significant plans for 2025. But it's definitely true that the competition is quite aggressive these days.

I am not sure if they can do much about that if the HBL bank has this limitation. Maybe they did not choose the proper partner bank, but it's a bit late to change.

Any ideas how difficult it would be to change partner bank for Neon at this point?
I remember reading an article the other day also claiming that Radicant was looking for a potential buyer, and thinking that a merger between Radicant and Neon would be great since Radicant has a full banking license.

 

[Baptiste Wicht]

Any ideas how difficult it would be to change partner bank for Neon at this point?

I would say close to impossible. Their app is entirely based on the API of HBL. Changing would mean finding a new partner with an entirely new API, and reimplementing all that (some things may not be possible, some new things may pop up, everything needs to be tested) and they would need to transfer all assets from the old bank to the new bank, ... This may not even be possible by contract and conditions may change with the new bank.

 

[gaijin]

they announce that all payments will be suspended from 31.12.24 until 3.01.25

Maybe unfortunate choice of words. But this is standard for all Swiss banks. Yes, moving money within the same bank (from/to Space) might work with other banks on these days. But how relevant is this really for the average customer?