Neon unveils green bank account to boost sustainable banking

Swiss FinTech Neon has introduced a sustainable bank account for its customers available through its mobile app.

According to Neon, the bank account is backed by certified CO2 compensation from myclimate as well as a pledge to plant five trees per user, per month.

The sustainable account is available through a 5 CHF per month subscription via the bank’s mobile app and comes with a Mastercard for daily shopping. The bank has also pledged to plant a tree for every 100 CHF spent on the green card, with an overview feature on the app informing users how many trees they have planted personally.

Furthermore, the account also provides a sustainable investment feature via its partner Yove as well as a carbon-consumption tracking tool that provides information back to the user on the emissions generated by their own transactions.

The sustainable bank account had previously been running in pilot since December of last year. To date, more than 250,000 trees have been planted through 1,500 accounts.

Established in 2017, Neon currently has around 70,000 users on its regular banking app, and has its accounts managed by its banking partner Hypothekarbank Lenzburg.

Neon CMO and co-founder Julius Kirscheneder said, “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. “We need to turn Switzerland’s banking sector green.”

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