Hello hello!
So you’ve finally decided to embark on the wonderful path of investing?
Are you looking for an easy-to-use app? Don’t want to rack up 10,000 apps on your phone to manage your finances? Then you’ve come to the right place!
Today I’m going to introduce you to a Swiss neo-bank that I really like!
And for good reason: it has a mobile application that lets you invest in financial assets in 3 clicks, that lets you pay for your shopping with a card and, since the start of the year, with Twint, and above all, that gives you up to 1% annual interest on your uninvested cash!
This revolutionary neo-bank is Yuh! It’s the brainchild of Swissquote, the leading Swiss investment bank, and Postfinance.
In this article, you’ll find out how to open an account, make your first bank transfer on the app, invest in shares, bonds, ETFs or crypto and how to set up your recurring monthly investment in less than a minute so that you don’t have to worry about it for as long as you want to invest in it.
If you’d rather see the content than read it, I’d refer you to my YouTube video below:
Before going any further, I’d like to take 2 seconds to congratulate you!
Yes, you’re part of that community that wants to achieve financial independence and has understood that the only way to get closer to that goal is to find out about the best investment opportunities.
Opening an account
First of all, go to Apple Store or Google Store and download the Yuh application. Please note that if you use my Promo Code YUHMONEYMADAM when you sign up, you will receive CHF 50 in Trading Credits and 250 Swissqoins (Yuh’s crypto). Who knows, this crypto could well explode in the future too!
Once you’ve downloaded the application, open it. You’ll need to accept the Yuh app’s terms of access and use. Read the text carefully before accepting.
If you’re OK with all that, all you have to do is press I confirm that I have read and accepted all the documents. Then press read and accept. You’ll get a little promo carousel to go through.
Then you can either sign up with PostFinance or Swissquote, if you already have an account with one of them. Or you can sign up as a new customer.
If you are a new customer, you will have to answer a few questions about yourself, then scan your identity card or passport and finally make your first transfer. It’s really simple, so don’t panic.
As I have a Swissquote account, I will select this option. You will be asked for your Swissquote username and password. You will then be asked to confirm your telephone number. You’ll receive a code by text message that you’ll need to enter to authenticate yourself.
You’ll be asked if you want to authorise Face-ID.
Your device will then be registered on the app. Click Next and choose the nickname you want to use. Next, you’ll need to choose your 6-digit Yuh Key, which you’ll need to validate essential actions or associate a new device with your Yuh account.
You will be asked to re-enter the Yuh Key you have chosen.
You can then choose to use biometric authentication, i.e. Face-ID or fingerprint, to authenticate actions without using the Yuh Key, but make a note of it anyway just in case!
This is really important, as you’ll be able to enter a bonus code. Be sure to enter the code YUHMONEYMADAM to receive CHF 50 in trading credits and 250 Swissqoins when you open your account. Note that you need to send the first CHF 500 to your account to benefit from the promotion. This offer is only available to Swiss residents.
Click Next and all that’s left to do is sign your contract! Read all the information carefully and click on I accept and sign, if you agree with everything in the contract.
And that’s it, you’ve finished the process of opening your account with Yuh, congratulations!
You will receive an e-mail when your account is ready.
As soon as you receive the confirmation email, you can go back to the application and add funds to start investing, saving or simply paying for your purchases.
In just a few days, you’ll receive your bank card in the post. It’s really pretty and the packaging is really stylish, so well done to the marketing team!
Next step, send money to this bank account
On the taskbar at the bottom, click on the pay emoticon.Then, in the middle of the screen, click on the little plus button Add funds.There you’ll find the bank details for your Yuh account, which you’ll need to make a transfer from any bank. Personally, I made the transfer with BCF, but it could be any other bank, such as Néon, Zak, Migros, Raiffeisen, etc.
So log on to your e-banking and transfer the amount you want. Please note that to receive the 250 Swissqoins using my code YUHMONEYMADAM, the first transfer to your account must be at least CHF 500. But of course, you’re free to pay less into your Yuh account, you just won’t receive the 250 Swissqoins. So it’s up to you ?
And that’s it, you’ve now transferred funds to Yuh. When they arrive, in 1 or 2 working days, you’ll be able to invest on the stock market. Remember that you can top up your account at any time by going down to the pay emoticon, and repeating the process I’ve just explained.
The next step is to invest in your first financial asset!
To do this, click on the invest emoticon at the bottom of the page. You’ll come to a page where you can search for investments.
It’s really cool because you can display the results in alphabetical order, today’s winners, today’s losers, lowest price, highest price or even most recent, so that the stocks that arrived last on the application are at the top of the ranking!
You can also display the results by investment type, such as themes, equities, ETFs, crypto or trend themes.
You can display results by market or by sector. And if you’re sensitive to ethical, environmental or social issues, you can filter investments by ESG rating. In fact, if you’re wondering whether investing can be profitable and ethical, go and watch this YouTube video in which I talk about it. You won’t be disappointed, I promise.
You can also combine the filters. For example, I’ll select the investment type Equities, Swiss market, financial services sector, which has a good ESG rating, and by clicking on show results at the bottom, I’ll discover the stocks that meet the criteria, in my example, Swiss Re. Swiss Re is the world’s 2nd largest reinsurance company, present in 25 countries.
By clicking on it, the price chart is displayed, and you can choose the time horizon, e.g. 6 months, one year, maximum. If you’re analysing what to invest in, I really recommend that you look at the long-term trend, e.g. 1 year or less, and make sure there’s healthy growth. You can also see the sentiment of the Yuh community, i.e. whether they are rather buyers or sellers of the financial security in question, in my example, Swiss RE.
Further down, you have a description of the security, its ESG rating and, finally, similar investments.
If we go back to the top, you can choose to buy the financial asset, if you just want to own part of it in your portfolio and buy it once, or you can choose to create a recurring, weekly or monthly investment. This is a very good option if you want to invest in it gradually, which is what we call DCA, to smooth out your average purchase price. Personally, I prefer this option. If you choose this 2nd option, the minimum amount to invest is CHF 25. At the bottom, click on continue, enter the start date, e.g. 3 July, and choose whether you want to invest weekly or monthly. A legal text will appear. Click on continue at the bottom if you accept the text and to validate your transaction, all you have to do is click on confirm recurring investment at the bottom. If you have set up your recurring investment with a start date in a few days’ time, you can always click on modify recurring investment and either suspend, delete or modify it.
Remember that you can find your investments at the very top in invest, where you’ll find your automatic investments, which are recurring and also one-off.
For each transaction, you receive Swissqoins, Yuh’s crypto. For each investment I made, I received 10 SWQ. Its value is very low at the moment, but I’m sure it will rise in the future.
If you go back to invest, under Search, you can also display all the results.
Now let’s see how to buy a stock in a unique way. All you have to do is click on the stock of your choice, in my case ABB, and click on buy. I can choose to buy a quantity or a certain value in CHF.
For example, I decide to buy 1 unit. I get the current price, the estimated costs and the estimated amount. If I’m OK with all that, I click on confirm order. And that’s it, I can find this investment in the invest tab at the very top.
So it’s quick and easy, isn’t it?
Personally, I love this application. It’s really very instinctive and perfect for getting started with investing, without the fear of clicking in the wrong place and losing your money, which often happens with other applications.
Create a savings plan
Yuh is also a savings application, so by clicking on the Save tab in the taskbar, you can create your own project, or select one of the proposed projects as a trip. By clicking on it, you can enter the amount you want to save, the currency, e.g. CHF, and by clicking on Automatic savings, you can choose the frequency of transfers, e.g. daily, weekly or monthly. If I take the monthly example, I can also choose the transfer date. Finally, you’ll be asked how much you want to transfer into this project, i.e. this savings account, in my example, each month. Once you’ve entered the amount, click on create project and that’s it!
Don’t forget that you can click on the project at any time to modify it, delete it, or suspend the automatic savings, if you’re going through a difficult period such as redundancy (which I wouldn’t wish on you at all!!!!).
On your home page, you’ll find your account activity. At the very top, by clicking on the breakdown tab, you can see the total amounts, in cash under payment, in savings and in investments.
Now that the Yuh application holds no secrets for you, don’t you think it’s great?
And where do we stand with interest rates?
That’s the platform’s little sweetener! For all your cash holdings on the Yuh application, in CHF, EUR or USD, you get 1% annually up to CHF 25,000, and 0.75% between CHF 25,000 and CHF 100,000, per currency!
So if you have more than CHF 100,000, it might be worth converting the surplus into EUR, to take advantage of the interest rates.
But be careful not to convert your CHF into EUR at a time when the euro rate is falling or when the economic situation is not favourable to this currency and the rate is heading for devaluation!
The app for paying your shopping and bills!
As I said earlier, when you open your account you’ll receive a Yuh Mastercard at home. You can use it to pay for your shopping. But that’s not all! Yuh partnered with Twint in April. To use Twint with your Yuh account, simply download the application from Google Store or Apple store and search for Yuh Twint.
Finally, you can pay your bills directly from the Yuh application by clicking on pay in the bottom taskbar, then payment. You can choose to scan the QR code on your bills, make a transfer within Switzerland, use the e-bill, make an international transfer and even pay a friend (as long as he or she has the Yuh app). You can also create standing orders.
Yes, I told you, it’s a REVOLUTIONARY application!
And that’s all for today’s article.
If you have any questions or feedback, don’t hesitate to write them under the article, I’ll be delighted to answer them.
To your investments!
