CHF transfers (SWIFT?)

Hi guys :slight_smile:

I just want to ask if you know how CHF transfers from Revolut to CH banks are still sent as SWIFT and can occur fees or if they changed to local transfers

Best regards

1 Like

@AndreasK Any answer?

From my knowledge only resident can use a swiss IBAN to transfer to the Revolut account, the IBAN would appear in the related currency details. I used to have it until they switch me to the GB IBAN which sucks as now we have to pay fee for this transfer (I am not resident, living in border country).

It’s not clear if Revolut will be allowed to give this option again for non resident, which is absurd as I can do swiss transfer to other bank or person (like B-Sharpe)

Hi.
I made a transfer to a CHF Swiss account 2 weeks ago.
The message clearly stated it would use Swift.
From my CHF Revolut account I sent CHF1078.54 and the recipient got only CHF1064.
Also paid CHF 6 for the express transfer.
The bank was BCV

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My card was issued with a U.K. address. Not sure it would be the same with a card issued with a Swiss address.

Next time I will try to send in Euros, and compare.
They don’t charge because Switzerland is part of the “Single Euro Payments Area” (SEPA) even if the recipient account is in CHF.
Only the bank own change rate applies EUR->CHF. And we don’t know in advance how much it is.

But you will get a bad exchange rate from your bank if you transfer EUR to your CHF account…
Is your address still in the UK or have you changed it meanwhile into a CH address?

There is just one thing Revolut can/should do:

  • Open CHF account in CH
  • Send payment from CHF account as local payments
  • Done

They are already working with CS for incoming transfers to them, why not using them as partner instead of using shi**y CurrencyCloud?

Or just use TW (you will pay a fee OFC, but it’s a just 0.35 % + 1 CHF) and you know that the receiver will get the full amount.

Sorry @AndreasK to make publicity for your competitor on your community page but this is something you have to improve :wink:

I forgot about my old TW account. I was so happy with Revolut before that I haven’t used TW for more than a year. Thanks for the detailed clear cost. That’s important to know the recipient will receive the amount I decided.

This was clearly a bad experience. I will remember for next time if it’s still using swift.

On the plus side, the Revolut transfer took less than 2 hours. I must check that with TW.
I paid 6Fr for this express transfer, it would have taken 3 days otherwise.

My recipient could order a Revolut card with her Swiss address, would she be able to do a local transfer via IBAN if she does? I mean, when she transfer from her Revolut account to her legacy bank, would it be without fees?

All transfer from Revolut to a bank in CHF are executed as SWIFT. There is no way around it.