Receive Swiss CHF salary at Wise account?

Banks, Insurances & Third Pillar
1

Is anyone here receiving their Swiss CHF salary at their Wise account? Is it possible?

2

I don’t think it’s possible, since you don’t get an individual IBAN number.

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3

I got an individual IBAN, but not a Swiss one (starts with GB, not CH).

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4

Most Swiss companies want a Swiss account, so your GB IBAN probably won’t be accepted.

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5

Much easier to open a free account in UBS. Getting salary paid to GB Iban would not be possible

6

Ask directly to your HR. Swiss account is the norm. However, some companies may accept alternative.

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7

Don’t you need a Swiss IBAN anyway?

I can think of dozens of occasions when I had to provide an IBAN. And I can’t imagine having to discuss every single time whether a non-CH IBAN is acceptable or not. Examples:

  • My health insurance company wanted my IBAN (Prämienverbilligung etc.)
  • I had to provide an IBAN on my tax return
  • My landlord, if the utility bill is favorable for me
  • The military also paid out my sold via IBAN
  • Repayment of rental deposit account
  • and many more
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8

I know a Swiss IBAN is required for the tax declaration and other things. I’m not planning to get rid of traditional banking completely. Just toying with the idea of moving most of my banking and card activity to Wise.

I hope Wise will offer a CH-IBAN at some time in the future, like Revolut. In the meantime, I’m wondering if it is even possible / legal to receive a Salary to a non-CH-IBAN and whether someone has experience with this.

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9

In the meantime, I’m wondering if it is even possible / legal to receive a Salary to a non-CH-IBAN and whether someone has experience with this.

It’s certainly legal (baring sanctions, …). You don’t even have to be paid in CHF, could be EUR/USD/…, crypto, stocks, in-kind, …
I recall someone on this forum (or elsewhere?) that had their salary paid on a non-CH bank account, there’s certainly precedent. But as far as I know, you cannot force your employer to do it, it has to be of their own choice (just like in which currency you are paid), and it’s legal for them to specify a CH account.
You can always negotiate of course.

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10

I know Grenzgängers that get their salary paid straight to their French accounts (FR IBAN). So it’s possible/legal. Just may be difficult to force your employer, if “you’re the first person to ever ask this”, as the Swiss like to say confronted with something new. :wink: :laughing:

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11

I also don’t think this to be possible. I was asked to provide a Swiss IBAN within one month.
I can recommend you Yuh. You can open a bank account online in less than 10 minutes.

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12

You’re absolutely right. But since we’re an IT company and my boss likes to see us as forward-looking and innovative, I always have a pretty good negotiating position for this kind of stuff :slight_smile:

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13

I already have too many Swiss bank accounts, that’s not the issue :sweat_smile:

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14

I remember someone was paid in USDT!

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15

AFAIK, Relai pays its employees salaries in either CHF or BTC, depending on their preference.

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16

What’s the difference between receiving the salary in CHF and the converting it or receiving it directly in BTC? I assume the contract has the amount in CHF, so even in BTC it’s Swiss francs based.

17

Same here

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18

Assuming the contract stipulates an amount in CHF that gets paid in an equivalent amount of BTC, I’m guessing you technically don’t need to use the banking system, if you can manage to settle your expenses directly in BTC too.

For the very few people who don’t ever want to deal with fiat currencies, at all, that might be a step in the right direction.

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19

It is theoretically possible to receive your salary into a Wise account. There is no law that requires employers to pay your salary into a bank account in your name. An employer can also pay your salary in cash or even in kind, for example.

The question is whether your employer’s bookkeeping or payroll software makes allowance for adding the comment that is required for transfers to Wise. Your employer may also have issues with the salary going into an account that is not in your name, as this could create bookkeeping complications. But as long as your employer is willing to pay you that way and their bookeeping supports it, there is no reason why it would not be possible.

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20

Thanks for the answer. The Wise comment is not necessary anymore because Wise now provides an individual IBAN to receive money.