Can only say positive things about Transfer Wise. It is transparent, quick and you get notifications on every step and I was not able to find anything cheaper on the market.
You have to open an account and it sees your credentials like name, address etc. But there is no personal banking information you need to share with them. Except those where you have to send the money of course.
P.S. There is also a reffering link available, which I will not show here.
Maybe SBB if you have a GA? I am not sure about their rates.
Since it’s cash exchange, I’d be surprised if it’s less than 1% spread (prob much higher)
Maybe also contact your bank, for large sums they might offer a decent deal (remember to be explicit about fees and spread).
TransferWise are UK-based, this is a hard no for me. If I could use UK based companies I’d just use IB
What about Degiro? I heard they also have cheap FX conversion, anyone has experience with them? Do they let you take the cash out after conversion? (i.e. unlike say Swissquote where cheap conversion is only for CFD)
What’s the problem with UK-based corporations? Brexit?
Do you also have their Mastercard?
No, but it looks very interesting as far I can see it. It is a Debit Mastercard and not a Credit Card, but the expenses are really low as I understand it. Probably similar to Revolut? Thanks for the tip with the card, especially for holidays.
I have a Neon card and am very happy with the conditions. Making Revolut obsolete for me.
iirc the advantage is that the markup from Revolut on the weekends is not added when using Transferwise or something like that. I might mix it with Neon tho.
I thought Neon still has the 1.5% markup from Mastercard for forex exchange?
Remittance taxation for non-domiciled residents
I cannot have my non-UK money touch a UK bank account else I would have to pay tax on it
What markup do they have on fx exchange?
There’s a separate thread for Neon: Neon-bank fee free worldwide
Speaking of Neon, they have a cooperation with TransferWise. One can send money abroad from within the Neon app. In addition to the TransferWise fees, they charge 0.4%. So it’s better to go with TransferWise. I must however look into this taxing issue that you mentioned…
Degiro does cheapish FX (AutoFX: 0.1%, Manual: 10 EUR + 0.02%), but only inside your account. Paying in and out can only happen in the account’s base currency. Potentially one could open two accounts, buy a very stable asset relative to target currency, transfer, sell, pay out.
I think this is overly elaborate, not the intended purpose, slow, costs additionally for buying, transfering, and selling. But, it will be cheaper than Transferwise for some higher amount.
Off-topic: Neon
No markup over the Mastercard rate when using the Neon card for card payments.
Additional “convenience” markup of 0.4% when using TransferWise for international bank transfers through the Neon app (rather than stand-alone/separately). To their credit, they’re telling you this upfront:
“Transfer from your neon account to your TransferWise account and send the money on from there, that way you’ll save yourself the 0.4% convenience fee. It takes a little longer because there’s a second transaction in it. And you need two apps and to do two transfers”
For the Tax issue, does this mean anyone with an IB account in Europe would have to pay tax in the UK, as the IB bank is there? 
That’s for uk residents (non domiciled resident is a special uk thing where you avoid being taxed on your foreign wealth/income, but for that to work it has to stay foreign, hence avoiding touching any uk entities)
Hey there,
Just wanted to bring back in the limelight Revolut for currency exchanges (mainly CHF to EUR or USD and vice-versa) - considering today’s pricing schemes.
The revolut fee over the weekends is only applicable for currency exchanges over the weekends or also for each transaction executed?
The new limit is 1250 -chf/ per month is the max. amount of exchange can be converted free of charge?
Revolut compared to transferWise regarding fees and currency exchange prices?
Given the recent scandals, money laundering issues (esp. for transferwise) do you see any risks going with one of the aforementioned banks?
