IBAN for Switzerland

Hi

The Swiss IBAN is just the collection account Revolut runs in their name with the Swiss bank CS. It’s NOT a personal IBAN.

The personal IBAN Swiss residents have is a GB IBAN. It’s multi currency capable.

Ok so with a Swiss revolut account you have access to 2 different IBAN ? Is it possible to send and receive CHF on a revolut account with the CH IBAN ?

Yes. There is a personal GB IBAN which can take any currency (even including CHF), to be used for international transfers.
The CH IBAN is pooled and is limited to domestic CHF transfers.

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Live Agent

Can anyone help me with some clarity concerning a transfer I would like to make of a large CHF sum from Switzerland to the UK? I am UK-based and have a Revolut GBP and CHF account (that share the same IBAN, as has been discussed above).

I have made a small ‘test’ transfer from my Swiss bank (UBS) to my Revolut CHF account, and I will be charged a fixed fee by UBS for this (something like 10chf, which seems fine). However, in order to transfer the entire amount to my Revolut CHF account (and then exchange it to GBP once it is ‘here’), I need to check some other factors that might cost me money and have a bearing on whether this is the best mechanism for extracting my money from Switzerland…

TRANSFER FEES - This is not a question for the Revolut Community necessarily (unless you have direct experience of transferring CHF to the UK from UBS in Switzerland). I believe I am permitted by UBS to transfer up to 50,000chf in each transaction, but I need to clarify if this is genuinely per transaction, or per day, or per month - just so I can calculate how many transactions and fixed fees I would need to factor in.

EXCHANGING CHF TO GBP IN REVOLUT - I am thinking of setting up an automatic exchange in Revolut so that the sum exchanges from CHF to GBP at what is hopefully an optimum rate. My question is: Is there a limit to the amount that can be exchanged within Revolut, either per transaction, or per day/month etc.?

TRANSFERRING AWAY FOR REVOLUT TO MY UK HIGH STREET BANK or elsewhere - Are there fees and/or transaction limits (and therefore perhaps multiple fees) I should factor in when removing money from Revolut?

Sorry so long. Thanks for reading this far, and thanks if you can assist with some wisdom!
David

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Hi siboXD.

I have recently made a transfer from my UBS account in Switzerland to my Revolut CHF account, and like you, I received the full amount. Your employer will not be doing anything magical, but will have been charged a modest fixed fee by their Swiss bank in order to pay your salary to your UK Revolut CHF account. Most Swiss banks do not include CHF within SEPA rules, and consequently charge a fixed fee to the account holder of between 10 and 20CHF per transaction.

Hope this clarifies things, and perhaps encourages you not view your employer as a wizard. Perhaps buy them a beer now and again to keep things fair…

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Fees for exchanging money between currencies vary between Revolut account plans. Exchange is only free up to a certain amount, then there’s a markup on the exchange rate when you’re on the free plan. You can find these details in the fees section of Revolut T&Cs.

(Since this is the community forum, not the support chat, „live agent“ doesn’t trigger a response from a support agent.)

Thanks Frank.

Sadly it is painful trying to find anything more than generalised pithy information on the Revolut website, and I have spent hours wasting my life away trying to get concrete information about my specific queries. Some proper customer support and a live real-time conversation with someone would not go amiss. I am hopeful that someone will see this thread and perhaps offer done help, as I am not expecting miracles from Revolut itself.

Thanks anyway

David

Did you try to search the FAQs? It seems like it is relatively straightforward to find some of the answers you’re looking for, here for example regarding limits:

And here regarding exchange:

And this regarding large incoming transfers:

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Thanks for your information. I recently moved from Germany to Switzerland and having a CH IBAN in Revolut would also be very handy for me.

I still use the top up function with my german credit card from time to time. When changing my residence to Switzerland in the Revolut app, would I have to pay a fee when using the top up function with the german credit card?

For testing I added my (new) swiss credit card and when using the top up function with the siwss credit card I have to pay a fee.

Best regards

Most likely Yyu need to pay a fee if you topping up CHF with a German credit card in EUR. I’m living in Switzerland with a Swiss Revolut account and I can use a DKB credit card in EUR to top up EUR without any fee :wink:

As long as you top up in EUR it should not be a problem. Just try it with a small amount and you will see :slight_smile:

Thanks for your information!

I will try it out, my german credit card is also from DKB :wink:

Hi,

Did you continue to get paid in CHF to your GB Revolut account without punitive fees?

The reason I ask is because I am looking for the best option for my daughter to receive salary payments in CHF when she (hopefully) works in Switzerland in the summer (COVID restrictions permitting).

She is UK-based, and won’t have a Swiss address or be able to open a Swiss bank account. She has a TransferWise account, but can’t use that to receive her CHF wages. (She could give her employer details of her UK high street bank, but the exchange rate and the foreign transaction fee she would incur mean she would lose a significant chunk from each payment).

What I’m hoping is that she could open a UK Revolut account and, like you, give the Swiss-based employer the details and receive payment with no (or minimal) loss in the process.

Can you advise, or offer any tips that might be useful for her, or for other UK based people who might be receiving CHF payments?

Hi,

During my whole stay in Switzerland yes, I received my salary through Revolut. I’m not there anymore now.

I think nowadays the best option is still Revolut, for the situation you’re describing.
For you receiving the salary (in CHF), the process is completely lossless… but the employer will pay some fees.
About this, I’ve to say that after 4 months my employer asked me to open a Swiss bank account.

But it’s also true that after 4 months (from the third in reality) you will need a work permit, and automatically you will need a Swiss address to gain this permit.
In that case opening a Swiss bank account (like Zak or Neon) won’t be a problem anymore.

For what I understood your daughter will stay in Switzerland for less than 3 months in summer (COVID permitting)…

So my suggestion is: let her open the Revolut account and give the employer Revolut account details for salary payment. It will always be better than giving directly the details of another UK-based bank.

Hope I was helpful!

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Very! Thanks for your reply :wink::+1::money_with_wings::money_with_wings::money_with_wings:

I’m Trying to make a transfer from Raiffeisen to Revolut. Where did you add the reference number? In the Mitteilung??

Thanks!

yep, that’s where the ref-number has to go

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Thanks man!! I was wonder because above the Mitteilung there is a box that says Reference (Qr….)

That’s for the QR-Reference-Number…
You’ll know when you receive your first QR-invoice :wink:

Hello
sorry for my english , I speak a little bit not very well, i use google translate to help me.
I opened my revolut account a week ago.
I tried to make a transfer of 20 CHF from my PostFinance account to the REVOLUT account with the local information.
I entered the information: revolut number + name + country on 3 lines in the remarks.
the money transferred has returned to my postfinance account, I don’t understand my problem, can you help me?

******* In French
J’ai ouvert mon compte revolut il y a une semaine.
J’ai tenté de réaliser un virement de 20 CHF de mon compte PostFinance ver le compte REVOLUT avec les informations locales.
j’ai saisi les informations : numero revolut + nom + pays sur 3 lignes dans les remarques.
l’argent viré est revenu sur mon compte postfinance, je ne comprends pas mon problème, pouvez vous m aider ?

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I enter that information on one line, separated by commas. It’s important to enter it exactly as given in the account tab of your app.
Beneficiary is Revolut with its UK address and the IBAN from CS.
You can click on share in the App to send the complete address to your own email for easier handling if you enter the payment on your computer.

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