A neobank only gives its customers the benefit of Swiss deposit insurance if their money is held by a bank with a branch in Switzerland authorised by the Swiss Financial Market Supervisory Authority (FINMA). This scheme, run by esisuisse, covers up to 100,000 francs per customer and per bank in the event of bankruptcy. An institution holding a Fintech licence offers no such cover. A foreign bank without a Swiss branch may, depending on its status, fall under the protection of its home country.

The word "neobank" does not refer to any legal status: it describes a channel, the mobile app. The three possible regimes, from the self-regulatory organisation to the banking licence, are presented on our page on the Swiss neobank and its licences. This article deals with a single question: who reimburses the customer, and up to what amount, if the institution holding their account goes bankrupt.

What does Swiss deposit insurance cover?

The scheme protects customer deposits up to 100,000 francs if their bank goes bankrupt. It is organised by esisuisse, the self-regulatory organisation of Swiss banks and securities firms. This private association has its headquarters in Basel. According to its website, consulted on 28 October 2026, all banks with a branch in Switzerland must be members.

The ceiling applies per customer and per bank, not per account. The cover applies to private customers and businesses alike.

Since 1 January 2023, according to esisuisse, a joint account, for example a couple's, is treated as a customer in its own right, insured up to 100,000 francs. Each holder keeps their own cover for their personal accounts.

Is a neobank with a Swiss banking licence covered?

Yes. A bank authorised by FINMA and established in Switzerland is a member of esisuisse, whether its customers use a branch counter or an app. The list of members published by esisuisse, consulted on 8 November 2026, includes for example Swissquote Bank SA, Hypothekarbank Lenzburg AG and Bank Cler AG, which publishes the app presented in our profile of Zak Bank Cler.

The scheme is funded by the banks themselves. According to esisuisse, their contribution obligations rose from 6 to around 7.9 billion francs on 1 January 2023, or 1.6% of insured deposits in Switzerland.

Why does a Fintech licence offer no deposit insurance?

Because the law rules it out. The Fintech licence, provided for in Article 1b of the Banking Act (BankA), allows an institution to accept public deposits of up to 100 million francs, or crypto-assets. According to the FINMA page dedicated to this licence, these funds may be neither invested nor bear interest.

In the event of bankruptcy, the customer funds of a Fintech institution are neither given preferential treatment nor protected by deposit insurance. The institution must inform its prospective customers of this (Art. 1b para. 4 let. d BankA and Art. 7a para. 3 of the Banking Ordinance).

The risk is not theoretical. On 4 March 2025, FINMA opened bankruptcy proceedings against SWISS4.0 SA, a start-up holding this licence, which had around 250 customers. According to its press release, the legislator deliberately kept prudential requirements low for this status.

Does the announced reform change the protection of Fintech customers?

It would strengthen it, without turning it into deposit insurance. On 22 October 2025, the Federal Council opened a consultation on an amendment to the Federal Act on Financial Institutions (FinIA), which closed on 6 February 2026. The preliminary draft creates a payment instrument institution licence, intended to replace the current Fintech licence.

According to the Federal Council's press release, customer assets would be segregated if the institution went bankrupt: they would not form part of the bankruptcy estate. The ceiling of 100 million francs in customer assets would be abolished. These institutions could also issue a specific type of stablecoin, subject to particular obligations. The press release makes no mention of membership of esisuisse. This is a preliminary draft: until the law is amended, the current rule, with neither preferential treatment nor insurance, applies.

What about a foreign bank, from the European Union for example?

It all depends on a branch in Switzerland. According to esisuisse, deposits are covered at banks that maintain a branch in Switzerland authorised by FINMA. Its list of members thus includes branches of foreign banks, such as that of BNP Paribas in Lancy, near Geneva.

According to FINMA, a foreign bank needs this authorisation as soon as it employs people in Switzerland who manage customer accounts or conclude business on its behalf. Its branch is then supervised by the Swiss authority.

Without a Swiss branch, protection depends on the entity's status: the home country's scheme for a bank, no deposit insurance for an e-money account. Revolut illustrates both cases. According to its help page for Switzerland, consulted on 8 November 2026, its services there are provided by Revolut Bank UAB, a Lithuanian bank, or by Revolut Ltd. Customers can find the name of their entity at the bottom of their profile in the app.

  • Account with Revolut Bank UAB: according to Revolut's information document, deposits are insured by the Lithuanian public institution "Deposit and Investment Insurance", up to 100,000 euros per depositor, paid in euros within 7 working days.
  • Account with Revolut Ltd: this is an e-money account, not a bank account, Revolut writes. It is not covered by the FSCS, the United Kingdom's compensation scheme. In the event of insolvency, this money would be used first to pay customers, ahead of any other party, according to Revolut.

Revolut does not appear in the esisuisse list of members consulted on 8 November 2026. This list does not name several Swiss branches of foreign banks individually, esisuisse points out: the absence of a name from it is therefore not, on its own, proof. Revolut applied to FINMA for a Swiss banking licence in September 2026, according to finews.ch, as detailed in our article on Revolut in Switzerland.

Is an app backed by a partner bank covered?

Yes, if the partner bank is a member of esisuisse: it is the bank that holds the money. Neon states on its "Account" page, consulted on 28 October 2026, that its customers' money is deposited with its partner, Hypothekarbank Lenzburg, and protected up to 100,000 francs. This bank appears on the esisuisse list. Our profile details how Neon works.

The ceiling follows the bank, not the app. Yuh states that its accounts and those of Swissquote form a single entity, covered only once up to 100,000 francs, as noted in our comparison neobank or traditional bank. The offer itself is presented on our page on the Yuh app and its fees.

Our reading: a customer who also holds an account directly with the partner bank shares the same 100,000-franc ceiling, since esisuisse sets it per customer and per bank. Neon does not address this case on its "Account" page. The esisuisse FAQ also devotes a question to deposits for which only a virtual IBAN or a correspondent account exists in Switzerland. A sign, in our view, that a Swiss account number is not enough to tell where the money is held.

Status of the institutionDeposit insuranceCeilingExample cited
Swiss bank authorised by FINMAYes, esisuisse100,000 francs per customer and per bankSwissquote Bank SA, Bank Cler AG
App backed by a Swiss bankYes, via the partner bank100,000 francs, shared with other accounts at that bankNeon (Hypothekarbank Lenzburg), Yuh (Swissquote)
Institution with a Fintech licenceNo, neither preferential treatment nor insuranceNoneSWISS4.0 SA, bankrupt since 4 March 2025
Swiss branch of a foreign bankYes, esisuisse100,000 francs per customer and per bankBNP Paribas, Lancy branch
Foreign bank without a Swiss branchDepending on status: home country scheme or no insuranceDepending on the country, for example 100,000 euros in LithuaniaRevolut Bank UAB; Revolut Ltd (e-money, not covered)

How long does it take to be reimbursed?

Several weeks, according to esisuisse. The liquidator appointed by FINMA first repays insured deposits using the liquid assets remaining at the bank. esisuisse only funds the payout if these liquid assets are insufficient.

Since 1 January 2023, esisuisse must transfer the funds to the liquidator within 7 working days, compared with no more than 20 days previously. From 1 January 2028, the aim is to pay out within 7 working days of the customer's repayment instruction. It is FINMA, the liquidator or the courts, and not esisuisse, that decide on each customer's entitlements, the association points out in its FAQ.

How can you check a neobank's status?

Three checks, drawn from FINMA and esisuisse rules, identify the institution that holds the account.

  • Identify the entity: an app may belong to one company and entrust the money to another. The contractual documents name the one that holds the account; at Revolut, the name also appears at the bottom of the profile in the app.
  • Look up the entity at esisuisse: its "Bank search" page lists the members. It does not individually list the Raiffeisen cooperatives, represented by Raiffeisen Switzerland, nor several Swiss branches of foreign banks; the esisuisse FAQ then provides more information. It also flags institutions "in the process of winding down", a mention that appeared on 8 November 2026 next to radicant ag, for example.
  • Read the Fintech warning: an institution with a Fintech licence must tell its customers that their funds are not covered. The FINMA website also publishes its "Authorised institutions" and "Warnings" sections.

The other profiles in this series are gathered in our section on neobanks and online banks.

Key figures

  • 100,000 francs: ceiling of Swiss deposit insurance, per customer and per bank (esisuisse, page consulted on 8 November 2026).
  • Around 7.9 billion francs: banks' contribution obligations since 1 January 2023, compared with 6 billion previously (esisuisse).
  • 7 working days: the period within which esisuisse must transfer funds to the liquidator since 2023, compared with no more than 20 days previously.
  • 100 million francs: ceiling on public deposits under a Fintech licence, with no insurance (FINMA, page consulted in October 2026).
  • 100,000 euros: ceiling of the Lithuanian insurance for deposits with Revolut Bank UAB (Revolut, page consulted on 8 November 2026).

What we don't know yet

  • The timetable for the Fintech licence reform: the press release of 22 October 2025 gives neither the date of the dispatch to Parliament nor that of entry into force.
  • The outcome of Revolut's application for a Swiss banking licence, and what would happen to existing accounts if it were granted.

This article describes rules and statuses; it does not constitute financial advice.

Sources