Hi guys,

Should I change to CHF when I'm going to Switzerland since there will be no commision being charge here.

In other words, is there any commision charge? How much is the spread usually? (i.e. the difference between buying and selling rate?)

Cheers,
camnob

If you are talking about cash exchange, of course.....they work the same was here as everywhere else I've come across....you'll get a bad rate vs using a credit card in my experience

Depends on your "home" bank...and what your credit card charges for purchases are versus getting cash with a check (debit) card from an ATM. The buy/sell spread is about 2% either way. I tell my kids, use a credit card for purchases, the debit card for the times when a credit card isn't acceptable.

hmm, I'm confused by the response.

What i mean is that: should I change my EURO to CHF before going to Switzerland or should I bring my EURO and only change to CHF when I am physically there?

In my current place, there will be no comission and the spread is very low.

Sure......credit versus debit cards can be a toss up.....but he's talking about cash, no? Going to a Travelex or similar is never a good idea if you have any card alternative I always think

Not sure why the "spread" is relevant here.....the rate you get is important rather than the spread...

Anyway, if you think you are getting a good deal there, just do it (you don't need our help ).....there is no (to my knowledge) inherent financial advantage here vs there

The rate at this moment is .74 Euros per CHf...if the spread is attractive and there's no additional charges buy your CHf there. In Switzerland, if there's no stated commission in Switzerland, this just means that the commission is buried in the spread.

Thank you all for the answer given so far.

1-Remove all other factors out, is there any commission charge in general in the bank or money changer?

2- Is EURO widely use in Switzerland?

3- Is there any service charge to have a bank account in suiss?

4- Can I open a foreign currency account there? Is there any minimum charge?

1. Always. Sometimes hidden.

2. No

3. Depends. Talk to a bank

4. Yes. Talk to a bank about specifics

Hey Cavierchips. Have the rules on who can have a bank account in Switzerland changed here? When I got mine, you had to have a work permit. And my daughter, going to school, in Scotland, had to have a student ID to open an account there.

Not sure...I think you are right...I assumed from his message ("Going to Switz") and the fact he wants advise on buying a car here elsewhere that he's moving here......

Don't know, couldn't tell either. But if he can open an account here, I have found wire transfers provide the greatest economy.

thank you Caviarchips for your response. It basically sums up my enquiry.

And harshbarger, yes, I am moving to Geneva sometime in September and would like to see options that I have.

You can pay with Euros in many places, but most will accept bills only and the exchange rates are usually pretty bad.

Yeah, you are right.....I was kind of coming from the point that they don't actually "use" Euros normally....dual pricing etc......but some will convert badly and give change in CHF etc etc.....so good build and thanks for clarifying

Handy hint for EF.....the search function is great for the more obvious enquiries because if it seems really basic to you, it probably has been asked a million times before and people here get a bit impatient occasionally with inability to search.....so either google or EF search for "How should I change money?" or "Are cars expensive to run?" you can maybe do homework yourself and avoid getting the little red thing somebody seems to have given you this morning.......

Then start threads for the very specific things that are quite specific to you....

You'll find the guys extremely helpful, but you kind of need to meet them halfway and do a bit yourself....

Hope that helps and good luck with the move