Alpian promises premium banking via a smartphone app and combines everyday banking with personalised investment advice. The exchange rates in particular are extremely favourable. We took a close look at Alpian and show you in this review who the first Swiss digital bank Alpian is suitable for.
📖 Overview
☝️Alpian at a glance
Alpian is a financial app that combines everyday banking with investment and private banking solutions.
Investment advice is not provided on bank premises, but via video call directly in the app.
Alpian offers extremely attractive exchange rates, which is particularly useful when travelling and for international transactions. Interest rates on savings are also extremely competitive.
With Alpian PULSE, the account is free for 2 years for anyone under 26. For everyone else, the account is free for 6 months.
Current welcome promotion: CHF 100 starting credit with the code PC8FXV (requirement: minimum deposit of CHF 100 within 1 month + 3 card payments within 6 months). 🤑
What is Alpian?
To be accepted as a private bank client, you must have investable assets of between CHF 0.5 and 2 million, depending on the private bank. Even though Switzerland is one of the richest countries, the doors of private banks remain permanently closed to most people. Alpian has now stepped into this gap and offers digital investment services in addition to everyday banking services. Investment advice is not provided in luxurious bank premises, but conveniently via video call. With Alpian, customers of average wealth can now also enjoy personalised investment services. Find out more about Alpian in this review.
Review of Alpian «Banking»
Alpian offers a clearly organised app that you can use to carry out your banking transactions. Thanks to Alpian, you no longer have to go to the bank branch or log into e-banking on your computer for your daily banking transactions. Everything is done via smartphone, there is no web version. In our experience, this simple and convenient access to advice means that people are more regularly involved with their own finances. Alpian covers all the essential requirements of modern banking by combining the advantages of a traditional bank account with the benefits of a private bank. Alpian can be opened electronically and without paperwork directly in the app. The registration process is intuitive and can be completed in less than 10 minutes.
A few days after opening an account, you will receive a free metal debit card from Visa, which you can use to pay in shops and online shops worldwide. It is a multi-currency debit card with 4 pre-installed currencies (CHF, EUR, GBP, USD), so Alpian is ideal for shopping while on holiday. Account transactions can be checked in real time in the app, so you have an overview of your finances anytime and anywhere.
You don't have to worry about the security of your funds either. Alpian is supervised by the Swiss Financial Market Supervisory Authority and your assets are protected by the deposit protection scheme. In the event of the bankruptcy of a bank, the deposit guarantee system protects customer deposits of up to CHF 100,000 from loss.
How does «Investing» with Alpian work?
After activating your account, you can create your investor profile. Factors such as your financial situation, investment goals and preferences are taken into account. These factors are used to determine your investment strategy and put together your portfolio. You will therefore not receive a standard portfolio, as is the norm with traditional banks, but an investment strategy that is customised to you. Advice is provided via video call or chat directly in the Alpian app. You can book an appointment at any time if required.
A) Managed by Alpian
If you would like to leave the portfolio management entirely to Alpian, you can opt for the "Managed by Alpian" asset management mandate. From then on, the investment team will actively take care of the selection of investments and the management of the portfolio. The aim is to allow investors to participate in the growth of global economies. To this end, mainly cost-efficient and broadly diversified ETFs and investment funds are used. The minimum investment amount is CHF 30'000. We recommend Managed by Alpian if you have not yet gained too much experience with investments or if you do not want to make investment decisions on an ongoing basis.
B) Guided by Alpian
If you would like to manage your assets yourself, the "Guided by Alpian" advisory mandate is available to you. If necessary, you will receive advice and support from the investment experts, but the decisions are ultimately up to you. You can put together your own portfolio from selected ETFs and index funds. Alpian executes the orders accordingly and monitors your portfolio on an ongoing basis. The minimum investment amount is CHF 10,000.
Does Alpian pay interest?
Alpian offers a very attractive interest rate of 1% on account balances up to CHF 100,000. For higher account balances, you even receive an interest rate of 1.25% (up to an account balance of CHF 1 million). You can access your money at any time, Alpian has no withdrawal limits, withdrawal limits or penalty fees. With Alpian you are spared such negative experiences. In addition, Alpian pays interest monthly, so you don't have to wait until the end of the year for your interest income. Only a few other banks currently pay such an attractive interest rate. If you keep higher amounts of money in your account, you should compare the interest rates.
How high are the Alpian fees?
At the end of the 6-month free trial period, a quarterly basic fee is charged for the account, which is reduced or even completely waived depending on the account assets. This quarterly basic fee is CHF 45 for account assets of up to CHF 10,000 and CHF 22.50 for account assets of up to CHF 50,000. The fee is waived for higher account assets. The fee is also waived if you invest with Alpian (minimum investment amount of CHF 10,000). Young adults up to 26 receive Alpian free of charge for 2 years. After the 2 years, there is a reduced basic fee of CHF 5 per month. This lower fee takes account of the fact that young people often do not yet have very high savings. This is a good opportunity to gain experience with Alpian mobile banking for 2 years without obligation.
Card transactions in the currencies CHF, EUR, USD and GBP are free of charge if you have a balance in the corresponding currency. Otherwise, a corresponding foreign exchange transaction must be carried out. An exchange rate surcharge of 0.2% (during the week) or 0.5% (from Friday, 9 pm to Monday, 8 am) applies. These exchange rate surcharges are very low compared to other banks; experience shows that traditional banks often charge 1.5 to 2%. For card transactions in other currencies, the Visa exchange rate is applied. Here too, unlike many other banks, Alpian does not charge an additional exchange rate surcharge.
Cash withdrawals in CHF in Switzerland cost CHF 2 per withdrawal. EUR withdrawals in Switzerland incur a fee of EUR 5. Cash withdrawals abroad cost 2.5% of the transaction amount.
If you invest with Alpian, there is a flat fee of 0.75%. This includes the custody fee, transaction costs and an unlimited number of counselling sessions. The product costs incurred for the ETFs and index funds used and stamp duty are also charged.
Our conclusion – is Alpian recommendable?
Although Alpian is completely digital, it still offers you support and advice for your banking transactions and investment decisions. As this review has shown, Alpian closes the gap between traditional banks and smartphone banks, where you only have your smartphone at your disposal to carry out your banking transactions. With Alpian, you get a customised investment portfolio and personal advice at significantly lower costs and a lower entry barrier (minimum investment amount) than with traditional banks.
As the review showed, Alpian's strengths also lie in its above-average interest rates and attractive exchange and foreign currency fees. So if you are looking for a bank with which you can - in addition to carrying out your banking transactions - also invest and make favourable payments abroad, Alpian is the right place for you. If you have account assets of CHF 50,000 or more or if you invest with Alpian (minimum investment of CHF 10,000), there are no account management fees. If you have account assets of less than CHF 50,000 or do not want to make any investments, you need to compare the account management fees with the costs saved on currency exchange for foreign currency transactions and the interest received to find out whether Alpian is worthwhile compared to your current bank.
Latest: Alpian welcome offer
Receive CHF 100 starting credit with the Alpian code PC8FXV. Prerequisite: Minimum deposit of CHF 100 within 1 month + 3 card payments within 6 months.🤑
Frequently asked questions about Alpian
Is Alpian safe?
Alpian is a licensed and regulated bank under the Swiss Financial Market Supervisory Authority (FINMA).
