Exchange transactions: CHF to EUR

Hello there ! This is my first message on the forum, my name is Nicolas and I’m living in Fribourg.

I would like to transfer money from a CHF account in Switzerland to an EUR account in France.

I’m currently using Telexoo and B-Sharpe that have the best rates from what I saw until now.

What are you guys using for currency exchange transactions ?

I think I could get better rates than Telexoo by using an online broker like corner trader or Interactive Brokers. What do you think ?

Thanks !

How much are you paying with those providers?

For telexoo, there is no fee above 1000 CHF, but actually the fees are hidden in the rate, that is about 0.7% higher than the market.
So when I change 1000 CHF I pay 7 CHF of fees,

I don’t use b-sharpe but I think this is the same.

What about TransferWise?
I recently sent 5000 CHF to a EUR account with them, it costed me 23CHF. A little bit less than 0.5%

If someone find a less expensive middle man, i would be interested as well.

I think TransferWise, B-Sharpe and Telexoo have exactly the same prices.
If you look at their websites and do a simulation, you will get the exact same results.

I use Interactive Brokers for exchange transfers, the price is unbeatable. I converted 21k CHF at market rate and it cost me 2chf! I realize it’s probably overkill if you don’t have an account with them for other reasons, though…

@alex What were the fees from your bank to transfer the money ?

10 chf, IIRC. My bank is evil like that, but I would have had to pay that no matter what currency-exchange service I used.

Is it UBS ? Have you receive the whole amount you have transfer or was their other fees from intermediaries ?

Yep, UBS. I received the full amount in IB, then UBS charged me their fees for a foreign CHF transfer. I converted the money in IB and payed the 2chf commission, and then transferred the money out of IB via the free monthly SEPA payment option. No extra fees in the incoming bank.

I used the Lykke app twice for Forex. No commission, and I think pretty well rates

They started introducine fees for forex.
Actually, there is no fee for trading, but a 20 USD withdrawal fee now. Which probably makes other options cheaper.

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