I send some money this week to a friend on a switzerland account and there was no fees at all
Don’t get me wrong, Revolut has not charged me a fee.
But I transferred 10 CHF, which have been deducted from Revolut but I just received 7 CHF at UBS. So somewhere in between some intermediary bank have deducted 3 CHF…
I was send to an UBS account and no fees from UBS were observed
The last time I sent a payment to Revolut was last Friday and they have not charged me. But probably you’re right, as I haven’t sent any payments at all since then. Do you know if just UBS does this?
I have made a transfer to Raiffeisen today. I will inform you next week if I have been charged. If yes, there is a fee for all Swiss bank. If no, there is maybe only a fee with a UBS account.
I’ve talked to support just now, after looking at the UBS price and conditions. Apparently Revolut sends SWIFT payments through the SHA cost. UBS charges for receiving SWIFT transfers through SHA and BEN, but not for OUR. It seems that Revolut has switched from OUR to SHA. That is why we are being charged 3 CHF.
OUR SWIFT payments
SWITZERLAND - Top-up --> working method = TW, and direct to shared Rev account
Well if that is the case, then the “free” SWIFT transfers are really a fraud now… More than they were before…
On November 8, 2018 (1 month ago) all the transfers from Revolut were sent with OUR.
I have asked and was told that by the support.
Actually I am surprised that it was sent with OUR before and not SHA like other currencies.
Even more that the currency cloud (assuming it is done with their service as well) doesn’t have a swiss bank account to send CHF locally.
Swiss IBANs are finally here!
OMG YEEEEEES!!! finally !!!
My transfer from UBS to my swiss IBAN hasn’t arrived yet. With TW I usually get the money at 9AM.
We need personal IBAN’s!
Confirmed, transfered by Raiffeisen - with EVERY recipient (in CH) it arrives the next working-day… Well, I’ll give Revolut one day to process (as I do hope that’s automatic)… Might as well be Credit Suisse who pulls the breaks, as CS owns Swisscard (together with Amex), and sure as hell is not happy about the competition…
Since TW changed to a pooled account in their name (rather than WordPay) I get it same day if done before noon (except when sending from Postfinance as they send out next day by default - unless you pay CHF express surcharge).
Curious to see how Revolut will work out. Happy to give them a few weeks to workout the kinks. In any case, I can live with 1-2 days. Better than sending CHF to the UK and being hit by fees.
I doubt that CS throttles the payment. If they didn’t want them, they wouldn’t have opened an account for Revolut. I think it is more a question of how often Revolut run a batch job against the incoming payments. TW is continuously improving on that front as their declared goal is to get as close as possible to realtime.
Nikolay Storonsky (Revolut CEO) is a former developer from Credit Suisse so I really doubt that CS throttles the payment otherwhise he would have choosed some other bank
Two days now and still no money on my R account. I’ll stick with TW 'till things get faster.
Reported the same, no valid answer from support for now.
My topup didn’t arrive yet, neither…
As if they employed “Captain Slow” (Jamey May) to process payments, Raiffeisen confirmed my payment left on 27th…
I’ll also stick with Transferwise. Higher fees, but at least: it works and is reliable and fast.
now registered my transfer, sent yesterday, and sent me a notification
Unusually slow but it might be related to the holidays
my topup also just arrived. sent on 27th.
If “the Boss” realy worked for Credit Suisse, he should know how banks in CH work, and what NOT to do when wanting to be an alternative for banks (“beyond banking”)