Swiss challenger Neon opens green bank account

Swiss challenger Neon opens green bank account

News
May 26, 2021 by J.D. Smith
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Swiss fintech neon has unveiled a sustainable account for everyday banking, backed by certified CO2 compensation from myclimate and a pledge to plant five trees per user, per month. The 5 CHF per month subscription-based account is available via the neon mobile app and comes with a Mastercard for daily shopping backed by a pledge
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Swiss fintech neon has unveiled a sustainable account for everyday banking, backed by certified CO2 compensation from myclimate and a pledge to plant five trees per user, per month.

The 5 CHF per month subscription-based account is available via the neon mobile app and comes with a Mastercard for daily shopping backed by a pledge to plant a tree for every 100 CHF spent on the card. An overview in the account app shows users how many trees they’ve planted personally, and how many the entire neon green community has planted.

The account also offers sustainable investments via neon partner Yove and an up-and-coming carbon-consuption tracking feature that feeds back information on the emmissions generated by a user’s personal transactions.

Running in pilot since December 2020, more than 250,000 trees have been planted for 1,500 accounts, with 65,000 of those coming from consumption over the last five months.

“We’re motivated by giving users an account that helps them make a sustainable impact day in, day out, without them needing to even think about it,” says Julius Kirscheneder, CMO and co-founder. “We need to turn Switzerland’s banking sector green.”

Neon currently counts 70,000 users for its regular banking app, with accounts managed by banking partner Hypothekarbank Lenzburg.