CHF to EUR transfer

[johnvladimir]

@georgefeege I can think of 3 ways:

• multi-currency bank accounts. YUH, Swissquote and Alpian come to mind. I am not sure of their rates, though
• FX order. You send 40.000CHF to your IBKR/Degiro/Whatever account, you buy however many euros that can buy, so you get market price
• Using WISE. If you have a Neon account, international transfers use WISE automatically

 

[igbokwe]

@georgefeege You could use wiLLBe. They only charge 0.1% fees for exchanging between CHF, EUR and USD. Which would come to 40 CHF for you. Compared to 190 CHF on Wise.

https://willbe-invest.com/en/willbe...r-when-i-switch-from-one-currency-to-another-

 

[tobiahjude99]

@igbokwe They 100% dont use the spot rate.

So you may be only paying 0.1% fees, but get the crappy bank fx rate, whixh is 2-3% worse than the actual rate.

Never use banks for conversion.

 

[igbokwe]

@tobiahjude99 I mean they say they use the FX rate from Reuters which is the same as on wise? Or am I misunderstanding something? I will try to convert some with wiLLBe to check later

 

[tobiahjude99]

@igbokwe That would be pretty good, if they use the actual spot rate.

I just never heard of a bank doing it, while charging low fees.

0.1% just seems super low for a bank

 

[igbokwe]

@tobiahjude99 Ok I made a transfer of 1000 EUR to CHF on wiLLBe to check. But it will only get executed tomorrow.... I'll let you know how much CHF I end up with

 

[igbokwe]

@tobiahjude99 Ok so I got 975.27 CHF at an exchange rate of EUR/CHF 0.975274 at 7:30 this morning.

The exchange rate on https://www.xe.com/currencycharts/?from=EUR&to=CHF&view=12H at 7:30 was 0.979327

in total, the exchange rate I got is 0.42% less than the mid market rate. So I guess you were right

However, it is still cheaper than converting it via Wise. Wise charges 0.57% fee

 

[abstractrythm234]

@georgefeege If you're not in a rush to transfer it all immediately, you can do what I do which is upgrade to revolut plus, and max out the £3000 per month (or whatever the plan is equivalent in euros) of free exchange.

 

[photon]

@georgefeege I can suggest https://cambiavalute.ch/

Of course you need to already have an EUR account - but this seems already to be the case.

 

[mcldc]

@georgefeege Alpian