How much did you transfer?
this is weird. Transfered this morning 2500 CHF from Revolut to BCGE, the money arrived within 30 minutes and no fees
Some of my answers are not approved⌠or it takes foreverâŚ
However, I transferred from R to âZuger Kantonalbankâ. Not sure if it depends which clearing bank is used depending on the destination. Maybe BCGE doesnât use anyone else at all. It canât be the limit, because my 1000 CHF transfer costs as well.
Around 9500 CHF split into 5000 CHF And 4500 CHF transfers.
I transfered 3100 CHF to BCGE yesterday and the recepient account was not fully credited. 14 CHF got substracted and no way to anticipate this
It is weird. Iâve just done 2 tranfers from my Revolut CHF account to accounts in Switzerland in CHF and I get the same issue. the recipients recieved a lower amount than what I sent although there should be no exchange rate and its is not an international transfer. Why?
So, I contacted R support to find out why @marcolino81was able to transfer 2500 CHF without any fees while I have to pay CHF 14.
The support experience was awfulâŚ
- R doesnât seem to know which banks they use.
- The support agent tried to wipe away the topic with security, confidential etc. arguments
So, it seems transfer fees are pure lottery⌠and as a customer I donât have any chance to find out about who charged my which fee. Welcome to 21st century bankingâŚ
@louT The CHF 14 are SWIFT fees. The nice thing about money transfers is, that the transfer-methodology is 20th-century technology and far from modern (thatâs why PayPal is so successful) and itâs not known which way the transfer takes, which intermediate banks are involved etc.
So, you have a big surprise. Normally you can choose who is paying the (surprising) fees, but not with Revolut.
The CHF transfer is an international transfer (from R perspective). Itâs not in EUR and itâs not going to the EU.
Ok thanks a lot for the explanation. So it does not have to do with my permanent address not being in Switzerland? I was intending to change my home address from France to Switzerland (I have residence in both countries) to avoid having to pay for those SWIFT fees if that was the issue. Whatâs your experience on this?
I donât have a lot of experience with bank transfers and payments other than that itâs not practical in Switzerland to pay bills with Revolut but better have a local bank/postfinance account for this.
The two reasons are simple, first one is the missing integration into the Swiss system and secondly the completely random way that Revolut sends out payments to Swiss bank accounts. Sometime itâs a local bank transfer, sometime SWIFT with a hefty fee.
Yes, the randomness of routing is the big problem. And R is not able to tell what will happen nor do they have any clear strategy.
Iâm using R because I need to convert from EUR to CHF for regular payments. The CH bank fees for such a transfer are just way-off any reality. So, even paying SWIFT two times (because of this totally idiotic 5000 CHF limit) is way better than using a local CH bank.
Just use neon and you wonât have any fees deducted when you send 
â neon (as reported by others)
Well⌠at the end I have 20 bank accounts just to shuffle around which to use for which routing⌠doesnât sound like 21st century to me. But anyway, thanks for the tip. I might open an account and just let the money flow through it to my used account.
It will still not be reliable unfortunately for CHF. I tried it with Revolut â Zak (Bank Cler) and had no issues. But the amount was relatively low (around 100 CHF).
I heard that while low amounts might transfer without fees, higher amounts (letâs say 1K or esp. 10K) will carry a high fee. And even then it may differ. So if you have a monthly recurring payment with the same amount, you may still get charged different fees each time.
I think the most reliable option is to use EUR instead of other currencies. The EUR / SEPA system is more regulated and transfer even to CH are free because CH is part of SEPA. With other currencies like CHF or USD, you tend to get more surprises in my experience.
Itâs also the worst in perspective of exchange rate which will be applied by the receiving bank.
If you really want to know how much you receive, use Transferwise.
Regarding the amounts: Yes, it is important. Currencycloud tends to send lower amounts locally while bigger amounts are sent via SWIFT (as reported on Reddit for US$ transfers to the US).
No, I meant using EUR + SEPA in Switzerland instead of the CHF wherever possible, at least as a business. The transaction cost for SME of CHF is often too high compared to EUR and if your debtors are not only in CH, then using the EUR for everyone in Europe may be the easier and more scalable option anyways.
nobody here mentioned anything related to business transactions.
I just tried a 100 CHF transfer from Revolut to a CH IBAN (JPMorgan Chase Bank ZĂźrich). Unfortunately, only 88 CHF arrived. It seems the transfer is still SWIFT. I think it is something Revolut should definitely work on.
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