Hello!
I am 25 yo returning to Switzerland (moved out when I was 4 yo )
I found this forum today and I love it, it is very useful!
At start i will be spending some of my savings that I have in EUR in swiss bank. So I am searching the best way to convert EUR from swiss bank-> CHF
I did research on forum and it seems that the best way to do so is: (to avoid fee from bank)
Transfer EUR from swiss bank → TransferWise Card → Revolut
Do you know better option?
Is there a difference if I have Revolut account opened in other country? I see that if I would like to transfer CHF via bank on Revolut I can choose only GB IBAN
I am sorry for introducing myself so generally, I will post detailed introduction later!
I would think that you can directly transfer from your EUR bank account to Revolut. I would test it before because there may be some fees since it’s SWIFT. But there should only be a flat fee not a percentage fee.
Yes, there is a difference in where you open your Revolut account from. If you do not open it from Switzerland, you will not have a CH IBAN and will not be able to transfer CH for free from your bank account. And if it’s not in Switzerland, it is probably not possible either to use your Swiss credit card to top it up for free.
Hello.
Check if you bank’s EUR account have free SEPA transfers. If yes, you can transfer your EUR directly to Revolut. Check Revolut’s app to see how.
I have opened a Zak account (thanks @_MP for the great tutorial) and I would like to move some euro from abroad in it.
I have found this thread in the forum and I was wondering if Revolut is still the best option here.
Thank you @Neville.
I looked into and yes TransferWise looks good however I am also wondering which fees Zak applies here, I probably miss this piece of information, do you know it?
I’ve only just started looking into this question. I haven’t even gotten around to reading the blog post above. Actually, thanks for opening this thread, let’s see if others in the forum know more.
Zak will apply usual fees (i.e. none) for an incoming Swiss domestic transfer, since that is what Transferwise will use to pay out the converted funds to your account.
I made a comparison recently, including all fees and exchange rates for transfering from CHF → EUR. I assume it’s about the same in reverse. I did effectively transfer the money and compared the conversion rates with XE at the respective date and time. So this took into account the fees and calculated the percentage after.
In first place came in Revolut. In second place was Transferwise and in third my regular bank account.
I think for any amounts that can’t be converted for free anymore IBKR will be the cheapest. If I read that correctly, it should be about 2 magnitudes below Transferwise.
Having an account with them is only free if you park over 100’000 USD there (as shares of your favorite ETF for example). I don’t have an account with them, though.
I don’t quite understand exactly what you want, eur-chf conversion or eur transfer to zak euro account?
EUR transfer via Sepa should be free, but to/from Swiss accounts someone along the way may charge something like EUR 5, nothing huge, nothing as a percentage of the amount.
If you want to transfer & exchange eur at the same time, i recommend transferwise.
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