I am trying to understand what exactly is the markup used for UBS Banknote buy rate
If I have banknotes (in USD) and I want to deposit this amount in my CHF bank account, it seems UBS charge no fees but they charge UBS banknote buy rate to make conversion and I think that’s how they make their profit. I tried to find banknote buy rate online but couldn’t find it.
Any pointers?
In addition, would you recommend using Banks or its better to exchange USD —> CHF using private vendors like Ria exchange in Zurich?
Unfortunately the fintech banks with multi currency accounts don’t offer cash deposits of banknotes.