I am wanting to send money to Australia. It would be around 20,000 Swiss Franks. What would be the best way? What regulations are there for such transfers? I have my account in Zürich Kanton Bank.I also have a Bank account in Australia ( Commonwealth Bank). Thanks for advice.

Yes!! And seriously my question has got nothing to do with money laundering!!!!!

Hawala ?

But seriously,

Source

I think it is the same for your Swiss Bank.

The tax people might also want to know where you got the money from.

I would simply go to your Swiss bank with the supporting paperwork and ask them for the transfer.

I've heard good things about this mob for the logistics of sending money: http://www.ozforex.com.au/

This is irrelevant to the OP unless he/she filled their income tax return in oz and 'ticked' the 'didnt earn income overseas' part and then signed it.

I have just remembered that Pay Pal charge only 1.9 % for a transfer,

https://www.paypal.com/ch/cgi-bin/we...g-fees-outside

You just have to register both accounts with them. Paying in is free, receiving is 1.9%

We just take 10 000 chf cash exchange it there and no problems. I go back to Oz every 6 months so its easy as like that.

Am I naive ?

Bugger it, ignorance is bliss...

Cash will cost you more to exchange than bank to bank transfer, so thats the downside. In some cases it can be significant so its worthwhile comparing the two.

Yes but with cash you can wonder around the city playing them off each other and fish out the best deal. In the end it is just a fraction less than what fourex quote on their exchange rate. Problem is Fourex only deal in large electronic transactions....

The major banks, such as Credit Suisse and UBS, transfer cash overseas to other banks for a flat fee of around 5 - 15 CHF.

Yes if one has online banking then it's a smaller fee compared to without.

Yes if your that inclined. Probably works better in bali than australia though.

No, cash is worse than trav cheques which is worse than bank transfer. In fact with cash you can get some pretty horrendous deals i.e. airports

You lost me here. Are you referring to 'fourex' as in 'foreign exchange' or is that some company? Most of the time nowadays you can transfer whatever you want its merely a question of transfer fees, the bank exchange rate and sometimes the receiving bank fees.

Check out the info on forex transactions here and in the rest of that thread.

Maybe he was talking about this?

I'll drink to that . i put 'fourex' myself into google to see if there was some foreign exchange company i didnt know about. First hit was xxxx beer, From Wiki - 'XXXX (pronounced fourex) is a brand of Australian beer brewed in Milton, Brisbane by Queensland brewers, Castlemaine Perkins. It enjoys wide popularity in ...'

Not a bad beer, I like it, many dont though!

Not to be confused with Fourex brand condoms, made popular in the US in the 80s and 90s. I remember the shocked looks on my American friends' faces when they heard ads for XXXX beer on Australian radio: "I can feel a Fourex coming on!"

Now, back to forex ...