Withdraw etoro funds to Swiss bank account

[snowflake123]

I want to withdraw my funds (USD) from etoro to my Swiss bank account. Seems that etoro doesn't support withdrawal in CHF, and I fear that if I send the money as USD or EUR, my Swiss bank will apply very poor conversion rates. Etoro provides PayPal as a second withdrawal option, I'm not sure if that's a better choice though.

What would be the best option to withdraw the money?

 

[liv212]

@snowflake123 Probably Wise. You get a proper US account with your USD balance.

 

[1689er]

@liv212 Nope that doesnt work.

"We can't support transfers to Bitcoin or any other cryptocurrency, directly or indirectly.

This applies to platforms that offer crypto wallet services (the possibility of sending and receiving cryptocurrencies from and to third parties) such as eToro."

Atleast as long as the platforms are not EU/UK you cant send money to wise.

 

[liv212]

@1689er Ah, had no clue about this restriction, or the fact that eToro does anything with crypto. Thanks for pointing that out.

 

[snowflake123]

@1689er Update: For me it worked to add a wise account and withdraw money. I also tried out transfering to a Neon account and to PayPal, but Wise offered the best conversation rate.

 

[1689er]

@snowflake123 Oh wow thats great news. How did you do that?

 

[snowflake123]

@1689er I created a USD account in wise, then contacted wise support via chat and asked them to add this bank account. (I had to do it via chat because for me adding bank accounts through the app in general doesn't work (software bug)).

 

[1689er]

@snowflake123 Oh wow, that sounds simple! Im gonna have to test this. Thanks

 

[1689er]

@snowflake123 I tried first withdraw to Wise but that doesnt work. So i used Neon or any Neo bank that has "acceptable" transfer and changing fees.

 

[snowflake123]

@1689er That's good to know. Thanks a lot for the tipp, I'll look into Neon.

 

[solomon97]

@snowflake123 Probably you use Revolut which is my great solution. There is an article talking about that https://medium.com/dailypatterns/et...optimize-currency-conversion-fee-09f256edc0fc