Transfer & conversion comparison Revolut --> Migros Bank

Banks, Insurances & Third Pillar
21

Totally agree.

Quick check:
Migros: 15000 * 0.9240 = 13860
Revo: 15000 * 0.9392 + 128.- fees = 13960.-
Alpian: 15000 * 0.9380 + 0.2% fees (I think already included in FX) = 14070.-

Advantage is with Revolut you can see the fees. With Alpian I’m not sure and I don’t want to convert just to see if… :smiley: But on Alpian website they say “for 15000€ you receive 14070chf” so…

22

Yeah Alpian typically shows what you will get
I checked on app, it says 14090 CHF

3 Likes
23

based on the Revolut T&C I will upgrade to Revolut Premium monthly and make the operation then I will downgrade my plan to Standard. I guess the only thing they can do is to block me from re-changing the plan for 12 months. I’ll let you know if it worked!

2 Likes
24

Hey All, operation concluded and I am happy to share with you the outcome as it could be useful if you need to convert larger than usual sum.

18/05/2025 upgraded from Revolut standard plan to Premium, monthly payment, for CHF -10.99
18/05/2025 22:21 converted EUR -16’318 to CHF +15’245.47 meaning EURCHF = ca. 0.93427) while EURCHF at FXCM was quoted 0.93437 = -0.01% (ca. CHF -1.63)

I downgraded back to Revolut standard plan resulting in monthly payment reimbursement = CHF +10.99
I was charged for the Premium card (plastic card) fees = CHF -19.99

If I am not mistaken, the total operation cost was:
FX cost = CHF -1.63
Card Fees = CHF -19.99
Total = CHF -21.62 (ca. 23.14 EUR considering EURCHF 0.93437) >> -0.14%

I’m not a math expert so please if any mistake was made, let me know! thanks :slight_smile:

1 Like
25

Am I reading it correctly that all these steps led to savings of 21 CHF for converting about 15000 CHF?

Even though I am happy that all this worked out , I am wondering if this was worth the effort. Talking about absolut benefit of 21 CHF

2 Likes
26

No. CHF 21 was the cost, not the saving. We would find out the savings if we now did the same with Migros Bank. Volunteers, please step forward! :wink:

27

Ahh sorry
Comparison should be made with regular Revolut uncharge fees. Isn’t it?

1 Like
28

or any other method that’s comparable in terms of efforts.

29

Screenshot_20250520-171502
Screenshot_20250520-1715021079×906 62.2 KB

Here it is: ~144 CHF fees.
(But fx rate changed a bit)

Anyway, roughly 0.8% of CHF amount “saved” (IICC).

1 Like
30

Thanks for sharing

123 CHF sounds decent saving :slight_smile:

144 CHF standard
21 CHF premium

31

What I don’t understand:

  • Can you cancel Revolut premium after few days? I thought it’s one year minimum, although I didn’t look carefully.
  • Where is the spread? I would expect around 0.25%-0.3% difference to the interbank rate. Is it really that low? Can anyone with premium check what is the difference between buy and sell prices for EUR/CHF?
32

It doesn’t look so good with respect to Wise:

16318 Euros -
69.80 Euros fee =
16248.20 Euros converted

assuming the rate is the same (which is interbank, so it should be, at least at the same moment in time)

then this would have given you 15221.50 CHF net

33

You can choose between monthly or annually subscription. With monthly sub you can cancel every month. With annually sub you pay for 1 year without possiblity to get your money back (but it’s cheaper).

Maybe Revolut is not that bad eventually :wink:

1 Like
34

True, for larger amounts that I don’t immediately need - I typically turn to Wise.