Revolut in Switzerland?

Thank you for your answer. What about charging my Revolut account with a Travelcash card, does it work?

Well, it works.

If you ask for the cheapest option to top up the account I would recommend to read through the following threads in no particular order:

There might be older ones I have missed.

The Fastest & Cheapiest Way to Top-Up in Switzerland is NOW:

Cashback Cards from Swisscard.

-> No Fees anymore
-> Anytime with the limit of the Creditcard.

Hello every one!
I need some information. Im french and im going in switzerland to work. Ive already created two Revolut accounts: one in Euros and one in CHF. The first thing that i dont understand is : why do i have the same IBAN for the two differents currency accounts ?
Second thing; If I give my Revolut IBAN (which is actually GB), will i receive my salary in CHF automatically ? With or without fees ?
I really thank you for any help you can bring to me

HI @maxsab

Well, I fear, receiving your salary (CHF) will not be possible, as employers will not transfer your salery abroad (say grace to P. Steinbrück).
Also, Revolut can’t give you a personal CHF-IBAN; there’s only a pooled account at the moment…

So best would be, if you get yourself an Account from a swiss bank; eg. Raiffeisen, Kantonalbanken (or online-Bank: Neon, “Zak”) - and then use Transferwise to transfer the money to france without too many fees and too bad exchange-rates…

Instructions on how to use Transferwise for this can be found here: SWITZERLAND - Top-up -- with TW, and directly to a pooled Revolut account
The pooled account is only available to swiss residents as of lately

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Thank you for your answer. But the thing is that i’ll be hosted by a friend so i wont have personaly (official) adress; so i cant open a swiss account, right ? because it will induced that i need a swiss adress at my name …

If you put your full name on the letter box you can receive mail at the house you stay at. This should not be a problem. I assume you still keep you permanent home address in France, right?

Regarding receiving your salary on a GB IBAN from a Swiss company: This mostly depends what your company is willing to do. I would not have a problem getting my salary on the GB IBAN, but I would not recommend having Revolut as your account to receive your salary with. A friend of mine did this some month until he was fed up because Revolut is too far from the Swiss local banking specialities to use in everyday life. For paying with cards, Revolut is perfect.

Actually, it IS possible to live abroad and open a CH-bank-account; best is to ask the bank; eg. Raiffeisenbank, Kantonalbanken (no need to go to UBS or CS, except you want to pay very high fees)… And then register with your french address…

Because if the bank finds out you’re not officially registerd under the address of your friend - they’ll block the account immediatly out of fear of tax-evasion/moneylaundry…

But as said - it shouldn’t be an issue… (you’re not the first commuter in CH :wink:

You might want to consider also CA-nextbank.ch, they don’t charge any extra fee if you live in a country that shares a border with Switzerland… Most of their clients are French “transfrontaliers”.

Hi

So, I’m a bit confused.

I opened a Revolut and Transferwise account maybe about a half year ago but didn’t use it until last week in my holiday abroad.

It was super easy and probably also cheaper than paying with my Swiss credit card.

But still, there are many open questions, and I’m sure you can help. I found some answers here in the community, but some of them are pretty outdated so I don’t know what still applies.

First a probably easy one: I topped my Revolut CHF account with my PostFinance Visa Card. It worked without any fees (at least I didn’t see them). Is that correct, can I use my credit card to top up the Revolut account for free?

Now it’s gets more complicated:

I frequently travel to Thailand. In my Revolut account I therefore opened a THB account. So far so good. Is it correct that I can transfer money from my Revolut CHF account to my Revolut THB account and get excactly the amount the app shows me?

I see also the option to transfer money to a THB account on a Thai bank (I have accounts in Thailand). Do I get the same exchange rate if I transfer money to the “real” Thai bank?

Or how does that change? Are there other or more fees there?

The same question applies for Transferwise. But there I see – at least in the app – a better exchange rate or less fees so it looks that I would get more (but I don’t know if that’s only when I transfer from Transferwise CHF to Transferwise THB or also for a money transfer to a Bank in Thailand).

That leads me to my final question: Since there are obviously fees for THB wouldn’t it be cheaper to make a classic money transfer from my PostFinance account to the Thai account (Bank to Bank)? According to the PostFinance homepage they only charge CHF 2, but I don’t know what exchange rate they consider and if there are any fees on the exchange rate or abroad charges. Also I don’t know if the Thai Bank charges any fees.

I hope my questions were clear and hope that you can help me.

Thanks!

Hi

Credit card top ups might or might not incure fees. Some treat it as cash advance, which could fall into the same category as ATM withdrawls, depending on the T&C of your card and might cost you money. Others might charge you with the >= 1.5% fee for CHF transactions outside of Switzerland. You simply can’t be sure and it’s changing all the time. The only issuer that I’ve ever seen an official statement regarding this is Cembra with the M-Budget Mastercard stating that they do not charge you any fees for top-ups.

To your exchange question: Never transfer anything else from your local bank and/or Postfinacne account than CHF to your Revolut account and always use the local collection account from CS with proper reference number and name in the reference text. Sending any other currency to Revolut would have to be done to the GB-IBAN, which in turn would be an international SWIFT transfer. Postfinance might only charge you a small fee, but intermediary banks might reduce the amount quite drastically. Fees around CHF 15 to 30 are not uncommon for this scenario.

The same also holds true for a transfer to your account in Thailand. If you send THB using the SWIFT network, you’ll have most probaly a worse FX from Postfinance and second the SWIFT/intermediary bank fees deducted. If you transfer CHF to your THB account, exchnage is done on the receiving end with I’m quite sure a worse FX than Revolut offers.

To have the benefit of Revolut, you send CHF to your CHF Revolut account and then convert in in the App to THB. There are limits for monthly exchanges until a small fee kicks in, depending on your price plan. Standard has CHF6000 per rolling month, afterwards its 0.5% fee. Premium does not have this limit emposed.

Exchanging FX on weekends always has an added 0.5% and I think for THB even more as a fee added. So if you can hold a currency in Revolut, it’s better to exchange during the week to avoid that fee.

You probably can send THB from your Revolut account to your THB account on a Thai bank, but this is most probably also a SWIFT transaction which can have fees by not receiving the full amount.

I can’t comment on Transferwise.

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SInce you already have Transferwise this is your best option to transfer money there. Revolut has quite some fees on THB: 1% on exchange rate (2% “outside foreign exchange market hours”), 0.5% in general if you exceed the free monthly limit.
Sending money by transfer from Revolut is a huge gamble. Most of them are done via SWIFT which come with fees you can’t estimate beforehand.

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Hey ! How did you make a post/message like this ? I mean when you write a message for who do you address it ? Thanks in advance !

You mark the part of the text you want to quote and a “quote” button appears above it.
If that’s what you meant.

Hi all!
I’m tryin for the first time salary transfer from my company based in Switzerland. They pay me in CHF so i told them to send the salary to Revolut. I gave the IBAN GB/BIC that is written in the CHF account on the APP. Result: Arrived the money in the EUR account instead the CHF… How is possible? I’m sure I can receive CHF…

PS: sorry for my bad english…

Thanks in advance!
Luca

I’m just wondering if other Swiss users list their Revolut account on their tax declaration form? As it is not a true bank account. Shall the amount loaded considered part of my fortune and so listed on the bank accounts sheet? Personally I never though of listing the amount loaded on my previous (Viseca) prepaid card.

Sounds like your employer sent it as SEPA instead as SWIFT transfer.

CHF is under SEPA? But is not for EUR ?

PS: Thanks for the reply

No, Swiss banks also support SEPA. SEPA payments can only done in EUR.
Another way to transfer money internationally is SWIFT. It can be used with any currency supported.

The company probably chose SEPA as it’s cheap(er) and faster. It could even be the suggested transfer by the bank.