Transfer money from a Canadian bank to a Swiss bank
I am planning to close out an account with a Canadian bank, and I would like to send the balance to one of my Swiss bank accounts.
I have asked the Swiss banks about wire transfer charges and cheque clearing charges and the replies are not very clear. Has anyone had recent experience with sending Canadian dollars by wire transfer or cheque to a Swiss bank.
My Swiss banks told me that it depends on the choice of who pays charges: OUR (sender), SHA (shared), BEN (receiver). However, my Canadian bank does not use this system and would have to charge me $40 regardless of who pays the 3rd party fees.
Migros Bank told me that they charge Chf 20 for SHA charges on transfers, and Chf 10 to 150 to clear cheques.
Post Finance said they charge nothing for incoming transfers but have no idea of 3rd party charges, and they charge Chf 15 to clear a cheque.
UBS says it only charges Chf 6 for transfers, and Chf 40 to clear a cheque.
My other option is to use my debit card, but there I also have no idea about potential 3rd party charges and fx rates. My Canadian bank only charges a flat fee of $4 per withdrawal. As long as the fx rate is not really awful, this might be the best method.
I'd like to hear about your experiences.