I Use this topic to ask the question here: are we, swiss resident customers, supposed to be migrated to the lithuanian entity or we are going to keep the GB IBAN as we are not in the EU?
Well, I haven’t read about any bilateral agreement between the UK and Switzerland either.
That’s not correct. The relationship between Switzerland and the UK based on the contracts Switzerland an EU. After the positive Brexit vote Switzerland started negotiations with the UK with the result that basically the contracts CH to EU will stay in effect for CH to UK.
Some month ago there was a FAQ in the Revolut site which started that therefore Switzerland will stay with Revolut UK. But now I can’t find it anymore. But legally, it could still be valid.
Thanks for clarifying. Somehow, the Switzerland disappeared from revolut.com — couldn’t find it when I was looking earlier today.
Is anybody using Credit Suisse account for topping up Revolut account?
I did it for the first time an hour ago after creating my account last night, just waiting for the transfer to happen.
I have read through this thread and am now slightly confused so I think it is best to just ask a direct question and hope you can help I am moving to SWZ in Feb and want to receive my salary into my Revolut account, I will be paid in CHF. I am an Irish user with a GB IBAN. What is the best way to do all this with minimal fees? Is it better to open a Neon account (as suggested above) to avoid fees?
I hope you can help
I would open a neon account as I would never trust Revolut my salary plus it’s not integrated into the Swiss payment system.
It’s possible to pay to the Swiss collection account from within Switzerland but only with a very specific reference text. This will only be possible as Swiss resident.
Paying bills in Switzerland is nearly impossible with Revolut as it misses the integration.
Thank you Oliver. I am currently not a resident in SWZ yet though (arriving in Feb). Would this be issuer for setting up?
For Revolut, yes, as you can not use the local collection account.
For neon I honestly don’t know if it’s possible. But they used to have a responsive email support where you could ask questions for your specific situation.
They all require an adress in CH, so you can’t open a bank account before Feb.
Otherwise I agree with what Oliver said, don’t use Revolut for your salary but prefer other (free) solutions like Neon, CSX or Zak, your choice (my preference goes to Neon as they have no fees for payment abroad and 2x/month free withdrawal at any ATM in CH, well cheapest fees in general).
Thank you all for your responses. Based on what I think I know so far would anyone agree this would be the best way to eventually get money to my main bank account?
If I (1) get my monthly salary paid to a Neon account and then transfer a portion of it to Revolut (CHF, circa 3500CHF) followed by (2) transferring my salary that is now in Revolut (CHF) to Revolut (EUR) (3) transferring my salary that is now in Revolut (EUR) to an established ‘bricks and mortor’ bank in EUR, would this be the most cost effective way to transfer money?
a) Revolut works fine in Switzerland with my ( private ) Android Phone, with Revolut App installed
b) And revolut works fine in Switzerland with the physical Revolat card.
c) But I cannot pay with my other (business) Android Phone (Revolut App not installed ) with virtual Revolut Card successfully installed in Goolge Pay App.
At any point of sales I am asked to use the physical card with Chip-Reader.
I’d like to top up my Revolut account from my UBS account. In a thread, I’d read that the reference string of revolut has to be added in the field of “reason for payment” in the UBS transfer system, but I don’t find this field in my e-banking. There are instead to other fields: “personal note” and “message for payee”. Where should I enter the reference, then?
Hi @Chessable, you would need to enter the information into the “message for payee” field. In German it would be called “Nachricht für Zahlungsempfänger”. The personal note is only visible to you. Hope this helps.
Credit Suisse? I have a Credit Suisse account and use both Transferwise (now called Wise) and Revolut. Lowest cost way to load Revolute with CHF is via Transferwise. CS to Transferwise (Zurich back account) is free (make a bank transfer out of CS using the CS on-line account). Wait 1 day for arrival in Transferwise. Then in your Revolut account “load” in CHF by charging your Transferwise debit card. You may have to spread it a bit if trying to move more than CHF 5,000 a day/ CHF12,000 per month (or thereabouts). In all transactions take care that there is no currency conversion. Only when the CHF is in Revolut then use the Revolut App to convert currencies (on week days!). Then GBP in Revolut can be pushed to a normal UK bank account for free.
see my post today - 24/March/2021 - if you don’t have Transferwise then Credit Suisse will change you a few francs (5CHF?) to make an international payment to London (when Revolut operates from). Do take great care that Credit Suisse sends CHF to London (there is a check box option when you set up the transfer in the CS portal). CS will see “London” and automatically propose to convert and send GBP to London - don’t do that!! Check the box “send CHF”. When CHF arrive in Revolut London - Revolute will credit the full CHF to your Revolut account. Then you can convert it! By going via Transferwise you avoid the Credit Suisse CHF5 fee, because Transferwise have a bank in Zurich - so a free “national” payment by Credit Suisse.
If I move from Italy to Switzerland I need to close my revolut account? Can I still use my LT account?
Hello ! Concerning the homepage revolut.com: Why is there no page for Switzerland with prices in CHF ?