Choosing a bank account for a big Euro transfer

Banks, Insurances & Third Pillar
21

I had the same issue in France, with Société Générale. They could not close the account and transfer abroad, only to France, so I had to empty it manually before they could close it.

Limited to 1k/day. Not possible to increase the limit online or via calling the guy, no matter how many NFA I had for the account. Maybe it would have been possible to go in person and increase the limit, but that was a thousand kilometers away. So I just did a manual transfer every day (except weekends) for a couple of months.

I had very bad experiences with French banks. Another bank I was locked out of my account because of 2FA and them not supporting foreign numbers for recovery. Even going in person didn’t help there.
In the end, after over 1y of back and forth with support and going there multiple times, the only way I found to get my money back was to close the account. That didn’t require logging in, just signing some paperwork at the branch.

Anyway, to get back on topic, I used Yuh to receive the money. The EUR account is free (I believe it’s essentially the same as Swissquote).
Not sure why I didn’t use Revolut directly since I did the conversion there, maybe I confused the no-personal IBAN with CHF accounts applying to EUR as well?

2 Likes
22

I think you were actually right to do it. Who knows how Revolut would react to a sudden transfer of a large amount from a third party.

3 Likes
23

Right, so French banks sound like Greek banks up until the 1970s, and more recently the capital controls time of 2015-2016. Pity.

24

France is the next Greece :smile:
Sorry

No intend to offend Greek people. I have greek origins and I love this country, as I love France

1 Like
25

You should have asked the notary to send to a EUR account in CH.

I have two acquaintances who had no problem doing this, for 5-to-6-digit amounts, first case as heirs and second real estate transaction.

CH banks have not even ticked, and if they do just send the documents to justify money flowing in. AFAIK that was PostFinance or Swissquote (yuh).

26

That’s what I’m going to do

I just opened a Top account and a Euro account in WIR bank some minutes ago. I already have the IBAN.

They have no limitations on account withdrawals, there are some with Swissquote or UBS, and they say to me they apply the interbank exchange currency rate. I can give a try and compare with other systems, especially IKBR

And the notary has not transfered any amount yet. He’s waiting for an Iban to run the transfer

27

If that’s a CHF account, conversion will be done at the sender side, never where you receive it… (and that could be a blocker too, destination not being a EUR-denominated account implies a lot of fees because it’s not SEPA).

Have a CH-EUR IBAN (or multi currencies) and not a CH-CHF-only one.

Edit: sorry you wrote about a EUR account. That’s ok.

1 Like
28

yes it should be ok, WIR account with EURO currency

Thanks for the reminder anyway

29

Does WIR offers EUR account for private curstomer I thought it was only for companies? Is is free?

30

According to their price list, a EUR account is CHF 2.50 per month.

wir_eur
wir_eur818×133 13 KB

It is listed under ‘Zusätzliches Konto für Ihren Zahlungsverkehr in CHF und Fremdwährungen’. I therefore assume it’s available for private customers.

1 Like