Getting USD out of a PostFinance account

Hey folks,

does anyone know of a good way to get USD out of a PostFinance account. I own ETFs which pay dividends in USD, so this will be a recurring problem for me. At the moment, I have tried 3 ways, none of which are good:

  1. Convert to CHF directly in PF. Seems like the best option for now, but rather bad exchange rate.
  2. Take out USD cash. It costs $5 + 1% of the sum, so very expensive.
  3. Transfer USD to Revolut. Seemed like a great option, but turned out to be rather expensive. PF took a CHF 2 fee, and then on a $500 transfer the intermediary bank took around $8 (worse yet, I was not told how much it would cost before executing the transfer).

Any ideas for me?

Best option: Get rid of Postfinance. Buy your ETFs with a broker with normal exchange rates like IB.

You basically have all your options already figured out.
Also worth checking out might be Transferwise

But usually it’s:
Small sums (~sub 1k): Directly in PF, Large sums: Revolut

Not always a good answer. Someone here want to use PF as a second broker to avoid having all eggs in one basket. Only to hold ETFs.

I unfortunately have no idea how to get the USD. I have also a problem with USD. I have some USD cash and have no idea where I can put them other than my mattress :slight_smile:

Are your USD on a PF USD account?

I have a (free) account in USD in PF.

Stay the heck away from swiss brokers

This comes with a steep price as OP discovered

Is the price really that steep? I have not made the detailed calculation of the expenses, so I am not sure. But I feel more comfortable holding my savings with an entity like PF, rather than say IB. I understand other people may feel differently.

For any leftover cash, I just exchange at forex rates with friends or colleagues who travel. Either to the US itself, or to other countries where US are accepted (parts of the Americas). At least for USD/EUR/GBP it wouldn‘t take long to find someone who‘s happy to take some from me. Though I‘m not really a cash person…

For amounts below 1k, try to minimise fixed per transaction fees (fees for bank transfers, cash withdrawals).

Can’t you have PostFinance just credit the dividends in CHF to your account? Sure, you might lose 1% or so on the exchange rate, but for smaller amounts that‘s often better than paying fixed fees.

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