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Yuh Review 2023: One app to pay, save and invest

Baptiste Wicht | Updated: |

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

PostFinance and Swissquote just started a joint venture: The Yuh banking application. With Yuh, you can save money on your account, pay in Switzerland and abroad and invest in the stock market and cryptocurrencies.

Yuh is an entirely digital offer. They have no offices. You can manage all your money directly from your phone. So, you will pay your bills and invest your money in your smartphone.

So, should you use Yuh? What features does it have? And how much does Yuh cost? We will find out!

In this article, I will review Yuh’s features, fees, advantages, and disadvantages.

About Yuh
Custody Fees 0 CHF
Inactivity Fees 0 CHF
Buy Swiss ETF 0.50%
Buy American Stock 0.50%
Currency Exchange Fee 0.95%
Languages English, French, German, and Italian
Mobile Application Yes
Web Application No
Custodian Bank Swissquote
Established 2021
Headquarters Gland, Vaud

Yuh

Great to start investing
Yuh
4.0
No account management fees

Yuh is an easy and affordable way to invest in the stock market and spend money abroad.


Use my code YUHTHEPOORSWISS to get 25 CHF in trading credits!

Pros:
  • Low fees for small operations
  • Fractiona trading in stocks
Use the YUHTHEPOORSWISS code
Code only for Swiss residents.

In May 2021, PostFinance and Swissquote launched the Yuh service. They are trying to unify banking and trading services together. In addition, they want to unify paying, saving, and investing (both in the stock market and in cryptocurrencies) in a single app.

An interesting fact about Yuh is that they will share some of their profits with their cryptocurrency: the Swissqoins.

The main selling point of Yuh is to make it easy to do your everyday banking operations and invest in the stock market. Many people do not invest either because it is complicated or too expensive when starting with small amounts. Yuh tries to fight that situation.

It is important to note that Yuh is not a bank itself. However, for the customers, it does not make much difference. Indeed, your money will be held by Swissquote, which is a bank. It means your money will be insured for up to 100’000 CHF, the basic deposit protection as other Swiss banks.

So, overall, Yuh is trying to bring many new things! But does that make them any good? We should look at the details to find out.

Features

As mentioned before, Yuh acts as both a bank and an investment platform. So, we need to look at both banking and trading features.

Banking Features

For banking features, Yuh has all the basic features you can expect: you can pay your bills with the app and transfer money to and from your account. Currently, you can do wire transfers in many currencies.

You will get a Debit Mastercard to make payments and withdraw money in Switzerland and abroad. You can also pay online with a card with CHF, USD, and EUR (and a long list of other currencies).

The interesting thing about Yuh is that you have a multi-currency account. It means you can receive and keep other currencies in your account. So, for instance, you could receive EUR and keep them in your account. So, when you have to pay in EUR, it will directly use that balance instead of converting from CHF to EUR.

A savings goal on Yuh (Source: yuh.com)
A savings goal on Yuh (Source: yuh.com)

You can also do peer-to-peer transfers to other users of the application. This feature is good if you know other users of the app. They also have the usual features like savings goals I do not see any use for. These things are present in most digital banks.

They also have integrated ebills in their app.

Yuh supports Google Pay, Apple Pay, and Samsung Pay if you want to pay with your phone. Since May 2023, they also support TWINT with their Yuh TWINT app. So, Yuh has complete mobile payment support.

Several new features are planned, like virtual debit cards and teen accounts. You can consult their roadmap to follow their progress.

Overall, Yuh has all the banking features we need (and more) and is very transparent about future features.

Trading Features

Yuh is quite different from a standard broker. Indeed, they are trying to keep it simple. As such, they limit the list of stocks and ETFs we can trade. They try hard to make this list representative of what the users would need.

For an advanced investor, this is a disadvantage. But for a beginner investor, this is a good feature because it will help to choose. This makes Yuh easier for beginners.

Another limitation is that we can only use market orders at this time. Other orders, like limit orders, are planned in the feature. I think this makes sense because having multiple order types can confuse users.

It is also important to mention that the app is made to be easy to trade. It is really easy to get started with Yuh.

Unfortunately, Yuh does not offer any US ETFs. Since US ETFs are currently the best available to Swiss investors, not having them is a big disadvantage for Yuh.

Looking at the list of available ETFs, they are weirdly naming them. For instance, VWRD is called Global Blue Chips. And many other ETFs get the name blue chips.

I cannot understand why they would call them blue chips. VWRD contains all the stocks from the World stock market, not only blue chips. And even for the U.S., VUSD contains all the stocks from the U.S. stock market, not only blue chips.

It is poor miscommunication to imply that the stocks are blue chips which means safety for many people. If they wanted blue chips, they should have taken the Dow Jones Industrial Average, an actual index of so-called blue chips.

Finally, Yuh also gives you access to some cryptocurrencies, like Bitcoin and Ethereum. You can access 34 cryptocurrencies, which should be enough for most people. It is unclear whether you can have proper wallet security, but I expect not. And generally, if you cannot have your cryptos in your wallet, you should not use a platform. But since I am not a crypto expert, I will not detail their crypto features.

Overall, Yuh has great trading features for beginners. But it is not an app for advanced investors.

Yuh Fees

After looking at the features, we need to look at the fees offered by Yuh. Since yuh is a banking and investment package, we must cover both.

Banking fees

We start with the banking fees of Yuh.

The basic operations are all free:

For withdrawals, you will get one free withdrawal per week in Switzerland. Subsequent withdrawals will cost 1.90 CHF. If you withdraw money abroad, you will pay 4.90 CHF.

However, you will only be able to withdraw 1000 CHF per day and at most 10’000 CHF per month. This limit should be good per month, but this could be an issue daily.

There is no limit to wire transfers. But there is a limit for paying with the card that you can configure between 500 CHF and 25’000 CHF.

Yuh has positive interest rates, which is extremely rare. Indeed, you can get 0.50% on CHF, EUR, and USD. And this is paid for up to 100’00 CHF balances. It is still a great feature if you often hold cash. Some people would like to use this for their emergency fund.

Now comes the expensive part: currency exchange! Yuh is charging 0.95% per currency exchange. All your operations in a foreign currency will cost you 0.95%. This fee is funny because they claim transaction fees are free in 12 currencies, but you have to pay the currency exchange, so it is not free. And if you work with currencies not included in the app, you must pay 1.50%!

For me, the currency exchange fee makes Yuh highly unattractive. Currently, there are several interesting alternatives with free payments in foreign currencies and comparable features for the banking side.

Trading fees

We then look at the trading fees of Yuh.

First, there are no custody fees. So, you will not pay anything to keep your account open without doing anything. This is a good advantage!

Then, the transaction fees are straightforward:

Compared with other Swiss brokers, these fees are relatively cheap for small operations on the stock market. But they are expensive for large operations. For instance:

On top of that, you will also pay currency exchange fees of 0.95% for your operations with currencies you do not have. For instance, if you have only CHF and want to buy something in USD, you will pay a 0.95% fee. This fee is quite expensive.

Fortunately, the dividends will stay in their original currency. So you will not lose 0.95% of all your dividends in USD, for instance.

Of course, you will have to pay the management fees of the ETFs. This is logical, and it is the same for each broker.

Overall, these fees are good for beginners investing small amounts. But for advanced investors investing large amounts, they are quickly expensive. This shows once again that Yuh is great for beginners. But you have to be careful about currency conversion fees.

Swissqoins

A unique feature of Yuh is its Swissqoin (SWQ). Swissqoin is a new cryptocurrency token that only exists within Yuh.

There are several ways of earning SWQ:

You can either redeem them for cash, send them to other Yuh users or keep them in your account.

Currently, one SWQ is worth 0.01 CHF (1 cent). There are 200 million Swissqoins, backed by a 2 million CHF reserve account. But this reserve account is expected to grow with time. Indeed, Yuh will reinvest 10% of its revenues into Swissqoin every month. Now, they say it is only 10% of the subscription revenues. However, there are currently no subscriptions, and there will not be any until 2022. So, I am reading that they will not reinvest anything before 2022, at least.

In 2023, they have added 100 million Swissquoins, with another million CHF in reserve. This was made because the supply of Swissquoins was running out faster than they had expected.

I do not see any value in that cryptocurrency thing. I would rather have a hard cashback or fee reduction on the operations than this gimmick.

Alternatives

In both banking and investment services, there are many alternatives available. So, we should compare these services a little.

One of the selling points of Yuh is to be a multi-currency account that you should be able to use in many countries. If you want to pay abroad for free, we can compare it with Neon (my review).

Yuh has a 0.95% currency conversion fee against 0% for Neon (but about 0.4% for the MasterCard rate). So, Neon is already better than Yuh on this selling point. And if you want to hold multiple currencies, both Revolut and Wise will be cheaper.

We can also compare with Swissquote (my review of Swissquote), the company behind Yuh, and a broker. For small operations, Yuh would be significantly cheaper. On the other hand, it would become more expensive for large operations.

And Yuh has a very limited set of investments compared to the extensive set of instruments available with Swissquote. So, I would rather use Swissquote directly. For more information, you can read my article about Yuh vs Swissquote.

Finally, if we compare it with an international broker like Interactive Brokers, Yuh falls quickly behind. Most transactions (except tiny transactions on SIX) are cheaper (and sometimes very significantly) at IB. And IB has many more features than Yuh. You can read my review of Interactive Brokers for more information.

Since Neon introduced investing features in 2023, Yuh and Neon are now very similar services. You can read my comparison of Yuh and Neon for more information.

Overall, I would only recommend Yuh for trading for beginners. I would not recommend Yuh as the primary bank. There are better alternatives. And for advanced investors, there are better alternatives as well.

FAQ

How many ETFs can you trade with Yuh?

With Yuh, you can only trade more than 50 different ETFs.

How much does a currency exchange cost with Yuh?

Yuh is charging 0.95% per currency exchange.

Is money deposited with Yuh insured?

Yes, your money will be held by Swissquote, which is a bank. It means your money will be insured for up to 100’000 CHF, the basic deposit protection as other Swiss banks.

Can you use Limit orders with Yuh?

Not yet, but they plan adding this feature in the future. In the meantime, trading in market orders works perfectly well for most investments in reputable stocks.

Can you trade in fractions with Yuh?

Yes! Yuh is among the very few Swiss brokers that allow fractional trading!

Yuh Summary

Yuh is an easy and affordable way to invest in the stock market and spend money abroad.

Product Brand: Yuh

Editor's Rating:
4

Yuh Pros

Let's summarize the main advantages of Yuh:

  • Very easy to invest in the stock market
  • Fractional trading
  • Free EUR bank account
  • Multi-currency account
  • No custody fees
  • Cheap fees for small trading operations
  • The money is kept safe by Swissquote
  • Backed by two large institutions
  • Pay online for free in multiple currencies if you have the money already

Yuh Cons

Let's summarize the main disadvantages of Yuh:

  • Expensive currency exchange fees
  • No access to U.S. ETFs
  • Not great for advanced investors

Conclusion

Great to start investing
Yuh
4.0
No account management fees

Yuh is an easy and affordable way to invest in the stock market and spend money abroad.


Use my code YUHTHEPOORSWISS to get 25 CHF in trading credits!

Pros:
  • Low fees for small operations
  • Fractiona trading in stocks
Use the YUHTHEPOORSWISS code
Code only for Swiss residents.

Overall, Yuh is a great trading platform for beginners. The app is very easy to use, and the fees are low for small transactions. If you want to start to invest and want something simple, Yuh will be great for you.

As for the banking package, the main issue is the currency conversion fee. Their currency exchange rates are very high compared to other actors in the market. This is disappointing for a multi-currency app. So, if you want a digital bank to pay abroad, you should use another bank.

To conclude, Yuh is great for beginner investors to start investing without trouble. However, if you want an excellent digital bank, you can use Neon and save on fees abroad. And if you are an experienced investor, you can use Swissquote with many more features.

What about you? What do you think of Yuh?

The best financial services for your money!

Download this e-book and optimize your finances and save money by using the best financial services available in Switzerland!

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Photo of Baptiste Wicht

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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85 thoughts on “Yuh Review 2023: One app to pay, save and invest”

  1. Hi Baptiste,

    Thanks a lot for the content you publish, I moved last May from Paris to Zurich and all your articles have helped a lot !

    I chose Yuh as my Swiss primary bank for 2 reasons:
    1. I wanted a very cheap digital bank with simple UX
    2. I needed a CHF IBAN (my upcoming Swiss employer required one) even if at the time I was still a French resident. Yuh was the only digital bank providing a CHF IBAN to non Swiss-resident. They sent the card to my house in France, and after arriving in Switzerland I just declared to the bank the change of residence.

    I think it is a key differentiator for EU expats planning to move to Switzerland and looking for a convenient (and free) daily banking solution

    1. Hi Charlotte,

      Thanks for sharing!

      That’s a very good point. If you a CHF account before you move to Switzerland, there are very few accounts available. Yuh has a great advantage there!

  2. Yuh support was good at the beginning, but not anymore! They are probably completely overloaded by the number of customers and requests.
    This is a serious issue because the app does not work from time to time. Example I have a sell order which is pending for no reason! Trying to cancel it and I get “operation cannot be canceled”. Trying to submit another trade and I get “Similar order exists. Cancel it and try again” ! Contacting support with the online form is useless, they haven’t answered any of my requests through this channel for months! Contacting phone support and you’re sure to wait 15 mins on the phone…
    In summary, the App sometimes does not work and there is no support!

    1. Thanks for sharing your experience!
      It seems to be the case for most startups. They start with a good support, but they can’t scale when they have many users. This is sad.

  3. It would be important to mention that Yuh is not a reliable App for investments.
    If for some reason they delist a crypto, as it happened for example with “Augur” your funds will be blocked for months.
    A lot of customers are affected by this unfair activity, funds blocked since 29th March and no solution from Yuh (Only repeating “it will be available as soon as possible”).
    So my personal suggestion is not to invest with them, otherwise you are taking a big risk.

    1. Hi David,

      Thanks for sharing. This is interesting, I was not aware of this issue.
      Are you saying that you cannot even sell the crypto they have delisted? This is quite bad indeed.

  4. After reading the recent comments I see YUH as a confused product.

    The positive point being that you can hold €UR or USD with interest, secured in CH if you get paid in said currencies. Additionally you can make free SEPA & card payments but foreign withdrawals are a total no-no at fr. 4.90.
    Not sure if withdrawing €UR in CH is even possible.

  5. First of all, thanks for your reviews and blog. I have followed you for a while now and am moving back to Switzerland from the US next year.

    I need to get a good new bank account next year. It’s not easy to open one with the new digital banks
    – Neon is a bit annoying as they don’t let you open an account even if you reside in Switzerland if you are still considered a US resident for tax purposes.
    – Zak requires you to already have an account with your Swiss address. Pretty annoying
    – Yuh language is a bit more open there.

    I totally agree with your point of fees with Yuh. But if I only use it as a bank, it’s not that bad. Here is my view
    1) I won’t use them for trading as there are many better options
    2) High currency exchange fees only true if you really need to exchange the money. Agree it’s not as slick as doing it directly within the bank like Neon.
    3) eBills is now available
    4) Twint on roadmap. Hope it comes soon

    Unfortunately none of the digital banks have the option for a joint account from what I read. I don’t understand why that is so complicated.

    I don’t like Migros bank due to the complicated login/authentication and fee (I know just 20 cents) for incoming transfers. That is really nonsense. App also seems to be bad. Raifeissen might be an alternative

    1. Hi Ralph,

      Indeed, if you only use it as a bank, it’s not that bad. And as a US citizen, you are quite stuck with your options, as you saw. If you use it properly, Yuh will be interesting and you even have interest on your cash.

      I don’ mind the 20 cents fee too much at Migros, but it’s true that their apps are quite bad and the fact that you need two machines to do payments is a huge pain in the ass.
      I know many US citizens simply use UBS. They have great English support, relatively good apps and their latest accounts are not that expensive.

      1. I am not a US citizen. I am Swiss citizen living in the US at the moment. Planning my move back home. While opening an account ahead (before living again in Switzerland) is impossible I am checking my best options once back home.

        What annoys me is that Neon only allows you to open an account when your tax liability is exclusively in Switzerland. This is not the case for me in 2023 as I will still have to fill a tax return for 2023 (for the few months I am still living and working in the US).

        I still have a few months before I am back. Thanks for your blog and all your hard work you are putting into it.

      2. If I were you, I would wait until I was in Switzerland for opening an account. Everything is simpler, but you will indeed have to settle for limited options.

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