SWITZERLAND - Free top-up methods --> working method (TW)


#83

Yeh, sorry… got mixed up.

Actually I use my Cembra Cumulus card to top my TW account. It’s somehow free of fees when done on the website and not in the app.


#84

There is no TW fee, but cembra adds a fee for a CHF transaction outside switzerland. Its some 1.7% if i’m right.


#85

SEPA transfer in EUR is without fees, but first you need to exchange CHF to EUR in reliable bureau!


#86

I don’t see any fees on my Cembra statement.


#87

The free TW top-up in CHF by credit cards is only up to a limit.
At some point TW starts charging commission, both while using the app and on the website.
Bank transfers to TW are for free (they have Swiss IBAN)


#88

Which might get disappointed once more. Unless of course there is a big announcement within the next four hours :wink:


#89

Still no announcement… :worried:


#90

What for?

twentytwenty


#91

not a surprise…


#92

Have just looked at this options and get the following messages:

BEN

Execution as an International payment order. With the cost option “All costs borne by beneficiary”, the charge of CHF 5 will be charged to the beneficiary (additional costs for payments from a UBS savings account) and will be deducted from the amount transferred together with any external costs.

OUR (Ordering customer)

Execution as an International payment order at the charge of CHF 5 (additional costs for payments from a UBS savings account). With the cost option “All costs borne by ordering customer”, additional external costs of CHF 20 will be charged to the debit account.

So even with BEN it is at least 5 CHF plus whatever Lloyds decide to take as ‘external costs’.


#93

Yes it says 5 CHF will be charged but it isn’t in the end.
I am a UBS customer and transfered multiple times without charges on either side, last time was a week ago.


#94

BEN = the recipient bank covers all the costs. But it’s not necessary the client of this bank.

It can change any time, but so far all the reports of people using BEN when transferring from UBS to Revolut show that there is no charge, and the money arrive in full to Revolut account.

If in doubt - one can use the TW method. It is free and works well for Swiss customers.


#95

Shouldn’t be so far now i guess…


#96

My optimism here is very limited :wink:
Swiss IBANs for sure are lower priority than Apple Pay for example, and the latter is coming soon for months already.

I’m just glad that TW method still works for Swiss users…


#97

Well, since it seems they have Swiss IBAN for business I thought that would be easy to implement it to private customers too… I know it was supposed to start in March and I’m also losing my optimism.
It’s just shame TW don’t have such nice and “user-friendly” system and still fees for conversion, I would only use them then.
Wait and see, I’m afraid I’m getting used to that


#98

Unique IBANs does not equal local IBANs. It’s just not a pooled account anymore. Consumers would benefit from local accounts, even a pooled local account would be preferable.


#99

Fully agree, when it happens it will be very useful.

Do you know, if in case of personal accounts in GBP, the outgoing transfers in GBP are seen as sent from a personal Revolut account, or is it still TheMoneyCloud like other currencies?
(Swiss users don’t have access to personal GBP accounts somehow…)


#100

It’s sent in the name of the account holder, your name appears on the receiver’s side. But it’s sent via some third party other than currency cloud, I believe. So the account no that shows up is not the same as your local sort code + account no. Only the GBP account behaves like this. Seems to be a leftover from their early days and it might be the reason why they can’t offer GBP direct debits.


#101

You could try it out and see for yourself by sending a small amount to your TW borderless account.


#102
  • Caution: Revolut exchange rates are better than TW (especially on weekdays), so it is usually not worth using the TW card directly…

I learned: better exchange rates gives not always better results.

It seems TW has its own “SWIFT” and locally based distribution cannels to avoid “intermediary costs” - very clever !!

Make your own experiences - br siri +