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CSX Review 2023 – Digital Bank account by Credit Suisse

By Baptiste Wicht | Updated: | Save

(Disclosure: Some of the links below may be affiliate links)

CSX is a new digital bank account by Credit Suisse. They just started this new offer in 2020. And this account is much cheaper than the standard Credit Suisse accounts. The CSX bank account can even be free if used correctly.

Interestingly, even large Swiss banks are jumping on the digital bank account wagon. New digital bank accounts are a good trend if they allow people to pay lower fees for their bank accounts.

In this article, I will review the CSX bank account in-depth and compare CSX with other digital bank accounts.

About CSX
Yearly fee 0 CHF
Users N/A
Card Mastercard Debit
Currencies CHF
Withdrawals in Switzerland 2 CHF
Withdrawals abroad 5 CHF
Languages French, German, and Italian
Custody bank Credit Suisse
Depositor protection 100’000 CHF
Established 2020
Headquarters Zürich, Switzerland

CSX

CSX account (Source: Credit Suisse)
CSX account (Source: Credit Suisse)

So, what is CSX? CSX is the new digital bank account of Credit Suisse. They started this new bank account in October 2020.

You can access a CSX bank account with the CSX mobile application on any phone (except for Huawei). On top of that, you can also access your account using the online banking apps of Credit Suisse (only after you have created it on mobile). This is an interesting point because most digital bank accounts in Switzerland only have a mobile application.

The account consists of a private bank account and a debit MasterCard. You can use TWINT and e-bills with your account. Once again, this is interesting because this is ahead of most digital bank accounts. Credit Suisse reuses a lot of its infrastructure for this new account.

Finally, while it is a digital bank account, you can still get support from real people from Credit Suisse. It is still considered a Credit Suisse account, so you can access real customer support.

So far, the account has no special digital features like instant transfers or budgeting. But Credit Suisse indicated that future features specific to CSX would come. So,  it may change soon. And you can do instant transfers with TWINT, which would fit the same feature.

CSX Fees

Generally, a digital bank account’s most significant advantage is reducing fees. Unfortunately, big Swiss banks are not known for their low fees. So, let’s see the fees of this new CSX account.

There are three variants of the CSX bank account:

The CSX Basic White account is free of management fees. You will get a debit MasterCard and a private account in CHF. And you will not have to pay transaction fees in foreign currencies. But you will have to pay 2 CHF for each of your withdrawals. There is no free withdrawal for this account.

The Premium Black account costs 3.95 CHF per month. It has the same features as the Basic White card. But you get unlimited free withdrawals at Credit Suisse ATMs (all other withdrawals are 2 CHF). And you also get perks like movie tickets at 15 CHF, but I think that is not an interesting perk. So, the only advantage of this account is free withdrawals. However, if you withdraw only once a month, the Basic White account is better!

The CSX Young account is for people from 12 to 25 years. It has the same features as the Premium Black account but is free! And you can get unlimited withdrawals at all ATMs, not only Credit Suisse ATMs. It is a very interesting account for young people!

Overall, the fees are okay, but not great. If you never withdraw money, the Basic White account is good. But if you have to withdraw money, Switzerland has better alternatives. And unfortunately, there are still many cases where we need cash in our country.

And I do not understand the appeal of the Black account. The White account is better unless you make two withdrawals per month or more on average. I generally make less than one withdrawal per month so the Basic White account would be better for me.

Alternatives

It is always important to compare a financial service against its alternatives.

CSX vs Neon

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Neon is currently my favorite Swiss digital bank account. So, we can compare Neon and CSX, both digital bank accounts.

Both banks offer free transactions in foreign currencies. And both digital bank accounts can be free. But with Neon, you can get two withdrawals for free per month. With CSX, you have to pay 2 CHF per month per withdrawal.

Neon also offers cheap international transfers and direct transfers to other users. It is something that is currently not possible with CSX.

With Neon, you can only use the mobile application, while CSX lets you use online banking from Credit Suisse.

Overall, I think that Neon has more advantages than CSX. It will be significantly cheaper and has more features. The only advantage of CSX would be coming from a large bank instead of a startup.

For more information, you can read my review of Neon.

CSX vs Zak

Zak is another good Swiss digital bank account by Bank Cler. Let’s compare these two bank accounts together.

With Zak, you will get free withdrawals at Bank Cler ATMs, while you will need to pay for withdrawals at Credit Suisse. They also both offer free transactions in foreign currencies.

Zak will only give you access to the mobile application, while CSX also has web applications.

Other than that, both banks are very similar. With Zak, you can also access a large bank (Bank Cler).

As a digital bank account, I currently prefer Zak over CSX. For more information, read my review of Zak.

CSX vs Migros Bank

Migros Bank is my favorite traditional Swiss bank account. Let’s compare CSX and Migros Bank.

The Migros Bank is free if you have 7500 CHF in your account. With Migros Bank, you get unlimited withdrawals per month at each Migros Bank ATM and each Migros Shop. This makes it cheaper than CSX.

On the other hand, you do not have free transactions in foreign currencies with Migros Bank. So, you would still need a secondary card with Migros Bank.

Like CSX, Migros Bank offers several applications to access it. Their applications are pretty bad, but that is another story.

As a primary bank account, I prefer Migros Bank over CSX. But as a secondary account (for the free transactions), CSX is probably more interesting. For more information, read my review of Migros Bank.

FAQ

What is CSX Young?

The CSX Young account is for people from 12 to 25 years. It has the same features as the Premium Black account but is free!

What is the difference between CSX Basic White and Black accounts?

The CSX Basic White account is free of management fees while the Premium Black costs 3.95 CHF per month. With the Premium Black account, you get unlimited free withdrawals at Credit Suisse ATMs.

CSX Summary

CSX is a digital bank account by the Swiss bank Credit Suisse.

Product Brand: Credit Suisse

Editor's Rating:
3.5

CSX Pros

Let's summarize the main advantages of CSX:

  • Excellent account for young people
  • Free transactions abroad and in foreign currencies
  • The base account is free
  • Free debit card
  • Access to the full Credit Suisse apps include online banking
  • Access to TWINT
  • Can use ebills
  • Can access physical Credit Suisse offices

CSX Cons

Let's summarize the main disadvantages of CSX:

  • No Free withdrawals
  • No cash back on the card
  • Premium accounts are not attractive
  • No Maestro card
  • Poor exchange rates
  • No instant transfers within CSX users (except using TWINT)

Conclusion

It is a great thing that even Credit Suisse is trying to have a cheaper digital bank account than their basic accounts. The CSX account is significantly better than other Credit Suisse accounts.

Compared with other digital bank accounts like Neon or Zak, CSX is unfortunately not as good. The Basic account of CSX is free, but you must pay for withdrawals. If you want many free withdrawals, you must pay 3.95 CHF monthly, which is only from Credit Suisse ATMs. Neon and Zak each have several free withdrawals per month, and their accounts are free.

As long as they do not offer at least one free withdrawal per month, I do not think they will compete with the other good digital bank accounts. Nevertheless, it is great to get more competition in this area.

So, overall, it is a good account, but there is too much competition for it to shine. I recommend using another digital bank account if they want to save on their banking fees.

Now, if you have an existing bank account at Credit Suisse and want to keep your fees lower but stay at Credit Suisse, CSX is a good choice for you. If you are afraid of switching to a fully digital bank account, CSX could be a good middle ground. Indeed, you have access to many services of Credit Suisse, and you get better prices.

If you want to look at other digital bank accounts, you can take a look at Zak or Neon.

What do you think of this new digital bank account? Have you already used CSX?

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Baptiste Wicht started thepoorswiss.com in 2017. He realized that he was falling into the trap of lifestyle inflation. He decided to cut his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence. You can send Mr. The Poor Swiss a message here.

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26 thoughts on “CSX Review 2023 – Digital Bank account by Credit Suisse”

  1. Hi! Thanks for this article.

    I have the csx white account and I am going on holiday outside of Europe. I am deciding between withdrawing money (around $600) overseas from my neon account (1. 5% flat fee interbank currency exchange I believe). Which works out to a $9 fee roughly

    If I withdraw using my CSX white card, I pay 4.75 chf flat and then 0.25% on whatever I’m withdrawing which works out to 6.25 chf which is less than the $9 from neon.

    My question is whether you know if CSX uses the interbank currency exchange rate like neon does? I don’t want another migros credit card situation where the currency exchange rate is higher than usual.

    Thanks!

    Chaz

    1. Hi Chaz,

      From what I found, the CSX debit cards go through Credit Suisse forex exchange, which is likely worse than the Mastercard exchange rate. But I do not know by how much.
      Neon does not give you interbank, but Mastercard exchange rate, which is estimated to be 0.4% worse.

  2. Csx isn’t working on my iPhone. Tried changing region settings on Apple ID. Still doesn’t work. Really crappy programming.

  3. Thanks Mr poor swiss for your great work on this blog that really helps a lot people recently arrived to switzerland :)

    Just wanted to leave my experience opening a bank account in switzerland and leave a comment in favour of CSX.

    Having a support of the infrastructure of a big bank can make a difference in some circunstances.

    When i arrived to switzerland i tried to open an account straight away in several digital banks including neon, however all of them requested your swiss permit card and a passport/ID of your country.

    I did not brought my passport with me and only had the initial address registration, so I contacted CSX support and they told me to go to a bank branch as they could help me there.
    In the branch the people were very helpfull and opened my account with just the address registration paper from the local authorities and my EU id card.

    In neon i had to wait for my permit and only after 1 and half months i was able to open a bank account.

    In some other banks they just accept the passport as valid ID

    This is really useful for newcomers to switzerland as it gives you the chance to get a bank account in just a few days after you arrive and you don’t need to wait for the permit to arrive.

    +1 for CSX very good phone support and help from CS branches

    1. Thank you very much for sharing your experience, Joao!

      I can imagine that in cases like that, it’s much easier to get things done with actual phone support or in-person.
      I know many foreigners are frustrated with Neon since it’s difficult to get an account when you just arrive in Switzerland.

      1. Indeed it’s not easy to open an account with neon when you arrive from another country.

        As i provided a PT phone number on my first registration now i need to fill a tax statement stating i am not US-tax eligible and i need to send it signed by regular mail…

        so i guess it will take nearly two months from the day I first arrive in Switzerland to get a neon account…

    1. Hi,

      That’s a good question and I do not know. I have checked on their website and there is no mention of it.
      However, since it’s supposed to a real CS account, I would think that you can deposit money. But I am not sure.

      1. if you find out, please publish. i’m trying to find out on my side too

      2. I got information from Credit Suisse on that question. They have told me that you can deposit banknotes on your account, from Credit Suisse ATMs. So, if you have access to a CS ATM with cash deposit feature, you can do it for free. But you won’t be able to do that from the offices, only from ATMs.

  4. I’ve recently been “thepoorswissifying” the financial aspect of my life. Really appreciate your thoughts and blogs.

    I’ve opted for a combo of CSX (twint) + Revolut (maestro) + Cashback (credit). While Revolut might be slightly more expensive for international transfers than Wise, they do offer it to more countries than Wise via Neon (in my Case South Africa). And then I use Cashback to top up Revolut. Bills are paid with eBill via CSX. While there are many problems with CS, one has to applaud their customer service, which is one of the reasons I’ve stuck with them.

      1. Yep, I’m using the Basic White account. The free withdrawal limit of 200CHF from Revolut is more than enough for my current habits.

  5. Hello,

    Thank you for all your info and research.

    I would like to let you know that I tried opening a digital bank account with Neon, CSX and Zak recently. Both CSX and Zak did not accept because although I have a Permit B (I have lived in Geneva for 11 years and my wife is Swiss), my nationality is Singaporean. Only with Neon I did not encounter this problem. So by default I have a Neon account. Just thought you ought to know about this.

    I now recommend Neon to everyone and tell them to avoid CSX and Zak.

  6. Hello!
    In my opinion CSX could be great in combination with Zack. I would dispose of the Mastercard from CSX and the Maestro from Zak. Furthermore I could transfer money from CSX as my main bank to Zak for free cash retirements at Cler’s ATM. A perfect combination. Or am I missing something?

    1. Hi Kermit,

      Why not use only Zak? I am not sure to understand the advantage of CSX over Zak in that case.
      It is just for the Mastercard? Then, wouldn’t Neon be better since they have a Mastercard and no fees?

      It’s perfectly fine to have two accounts, but your life will be simpler with one :)

  7. Hi !

    Sorry, but you forgot some really important features :

    – CSX has a DEBIT MasterCard. The Maestro card is being dropped in favour of MasterCard and Visa debit cards. Since some merchants are still reluctant to accept credit cards, this is a huge advantage in favor of CSX. This way, merchants are not impacted by fees for small purchases.

    Note that it is the only bank that offers this service at the moment. Neon offers a prepaid credit card and Zak offers a Maestro card that does not allow purchases on the internet (yes, there is the virtual Visa, but this adds a card that is also == inefficient imo).

    – You can make hotel and vehicle reservations with your card without any problems. This is another huge benefits ! In the past, it was mandatory to have a credit card for this service.

    I could also mention the 500’000.- possible per year to carry out transactions, the ebill which is functional (wink to Zak ;) ) or the access to the ebanking service and the customer service which are really very efficient (I recently tested the customer service for a “problem”, they answered immediately and was able to solve my problem in 3 minutes).

    Personally, I have made CSX my main account, because although the service is not perfect and some options are missing (I also think that unlimited withdrawals should be possible with the black card), I trust this institution and the service they provide, whereas before, I had never considered Credit Suisse as a bank to deposit my funds.

    1. Hi John,

      I do not think it’s that useful to have a Debit MasterCard. Most people should have a credit card to get some cashback. And credit cards will allow you to do hotel and car reservations.
      And some shops and administration will not take other cards than Maestro, even debit. It’s happening less and less but I still prefer a Maestro over a debit mastercard.
      But it’s true that these days, more and more banks are going with the MasterCard option.

      But I did not see the limits before, 500K per year is indeed very good.
      I think I mentioned the other points :)

      Thanks for sharing your point of view on CSX!

  8. Hi, you point out the fact that CSX lacks instant transfers but since you can use TWINT it gives you the same feature… even bigger as both parts don’t need to be on CSX.
    Or am I missing something ?
    (well you can also use prepaid TWINT with Neon though)

    1. Hi Gilles,

      That’s a good point. I keep forgetting about TWINT because I never used it!
      You can indeed do instant transfers with TWINT, I will make this clearer in the article.

      Thanks for stopping by!

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