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Old 13.03.2015, 09:36
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Sepa != sepa

Hey there,

I regularly transfer money from a Swiss bank account to a Euro-based Account in Germany. Are there differences regarding transaction costs between the banks? (This is what a colleague told me, but I can't believe that since I always thought that the reason SEPA exists in the first place is wipe out the differences)
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Old 13.03.2015, 09:53
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Re: Sepa != sepa

is it euro to euro or chf to euro?
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Old 13.03.2015, 11:30
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Re: Sepa != sepa

Yes, bank costs can vary greatly between the banks, even if it's a SEPA payment.
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Old 13.03.2015, 11:54
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Re: Sepa != sepa

And as written above, EUR to EUR is possible with SEPA, with CHF to EUR you will have a currency conversion and that will be more expensive
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Old 13.03.2015, 15:19
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Re: Sepa != sepa

SEPA needs all of the following:
  • the outgoing account must be an EUR-account
  • the destination account must be an EUR-account
  • the transaction must be in EUR
  • the transaction must use "SHARE" as the cost-indication (not BEN; not OUR)
If all of the above is OK, the transaction may only cost the same amount as another transaction in the same setup would cost domestically. I.e. if an EUR-transaction from your Swiss EUR-account to another Swiss EUR-account would be free, it has to be free. If the domestic transaction is priced at "x", the bank can charge you "x", where "x" can be as much as they feel like.


For recurring transactions from Switzerland to Germany (or indeed other places abroad), have you looked into currencyfair.com / transferwise.com ? (PM me for referral links, if you like those .)
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