SWITZERLAND - Top-up -- with TW, and directly to a pooled Revolut account

They are “Just around the corner”. Wherever this corner is.

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I think the corner is a circle…:angry:

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I just asked for the swiss IBAN in the discussion of the “Europeans new Unicorn” blog article https://blog.revolut.com/revolut-europes-new-tech-unicorn/ .
Here is the answer of the chief blogging officer of Revolut:

Cheers Chris

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Hi there!
A few month ago I was able to transfert 1’400 CHF from BCV to Revolut (SWIFT transfert in CHF) and had to pay a 6 CHF fee on the BCV side -> All went as planned.
A few days ago I did the same with 700 CHF, paid 6 CHF on the BCV side but this time only 675 CHF arrived on Revolut.
Went to the BCV to understand why and they told me that in case of SWIFT transfer, intermediate bank can take a fee. They also told me that Revolut has a partnership with UBS, so the money HAS to go through UBS and they now take 25 CHF to process the transfert (but apparently not in the past??). What bother me is that thoses 25CHF don’t show up ANYWERE… For all I know someone could have just snooped 25 CHF and the result would be exactly the same for me.

Anyone can confirm this is considered “normal”?

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@Konni
Yes, it is quite typical.
In case of SWIFT transfers intermediary banks can take a fee and it can depend on many factors, including: a sender bank, a receiver bank, and/or the amount. This is also not fixed and can change with time.

I strongly advise using the TW method described in details in the first post of this topic.
Feel free to contact me by PM if you need any help.

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Allright, thank you very much for the fast reply @Karol !

No problem @Konni. I’m happy to help :slight_smile:

PostFinance costs can vary. I have moved to Switzerland now and set up an account with them - send 1000CHF to Revolut CH IBAN and already paid 25 + 2CHF fees and 3 working days after my Revolut account does not have the money :frowning:
I am not sure I provided the reference in the right place, but the post finance UI did not allow much options other then putting it in the “message” field… hope I will see it someday, very sad, I was using Revolut back in UK for everything, but now it’s quite bad.

argh, lol, ok my bad I have now received money in my account, but in GBP instead of CHF, which might explain the hefty fee … is that possible that by pressing top up on the GBP account (it has a slightly different IBAN to make a bank transfer) it went different way than when I press top up on CHF account? And explain the 25f fee instead of extra 6f (to a total of 8CHF instead of 27)? It seems it is my fault :man_facepalming:

to add a bit to that now - I only received 975CHF, so it looks like the total cost was 52CHF… I’ll try with the CHF account top up option again, but not sure that would make such a difference… Not sure how people managed to pay only 2+6 fees using PostFinance.

Yes. All currencies have different account numbers!

Thanks. That’s explained the surprise 25chf charge on my transfer yesterday. In the past I had no charge using BCV (apart from the 6chf BCV charge)

@Karol: The process for getting a TransferWise MasterCard is now different. You can order it directly from the TransferWise Dashboard, but you have to top up with at least CHF 20 first. Could you change your posting?

Did you used shared costs, as Postfinance will charge extra 20.-, if beneficiary or our cost option is selected. I just trasnfered 3300.- Swiss and it was the usual 2+6 fees.

Thank you @Thaek - I have updated the first post

A little input for the TW-topup:
I just topped up my TW-account via banktransfer - even with a borderless-account, it’s wise to use the “announce-function” (add currency -> follow the steps there); because they may change account-details AND the reference-number (which is a one-time-use-thing) you need to add.
I therefore strongly recommend NOT making automatic reoccuring payments with the same details except there’s an option for that in TW (haven’t found it yet, tbh - if there’s one: thanks for the hint where to find it :wink:

Also, there are different fees in TW for
Debit cards (Mastercard or Visa, sadly no Postfinance), 1.25
Credit cards, 1.35
(for a top-up of 100 francs)

Yea I did have ‘shared costs’ selected - but had no idea what difference does it make? I think this was the default… but you suggest this is the best option anyway? Others would cost me even more?

topped up 150.- CHF with Postfinance some days ago with a SWIFT payment, got charged 2 CHF by PF and only got credited 144.- on my Revolut account. so 8 CHF / 5.5% fees. Maybe you can adjust the list, as I only should have been charged 2 CHF by PF… :wink:
I’ve created a borderless account at TW now with your referral link to get free top ups! thanks for the recommendation! :slight_smile:

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Thank you @zed for your feedback.

This must have changed over time because I remember somebody mentioning 150 CHF transfer from PF with only 2 CHF fee taken.

I have updated the list moving the limit for 2 chf total fee to 100 chf transfer (I tried this amount myself some time ago).

Currently the TW method is the safest, free method available for all Swiss-based customers. - described in the first post of the thread.

Yes it seams the routing trough the banks has changed. Many have reported CHF 25 fees for multi k transfers. Which is unacceptable. I guess TW is the only viable solution right now.

coooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooorner :slight_smile:

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