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Old 05.10.2016, 14:53
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The_Love_Doctor The_Love_Doctor is offline
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Re: Bank transfer using transferwise

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Tried to register a UK account at Credit Suisse here with Transferwise and was told that I can only register a UK account with a bank in the UK as they can only do local transfers e.g. to a UK bank account as to a Swiss account is considered as an international transfer. Anyone else have this problem?
I have to say I had to read that about 5 or 6 times before I understood what you are talking about!

Yes it makes sense. So if you just want to convert your CHF to GBP and the GBP account is with Credit Suisse in Switzerland, then the Transferwise system doesn't support that as it will cost them more to wire the money from their UK account to your GBP account with Credit Suisse.

The whole idea of Transferwise is quite clever, but it doesn't cover 100% of scenarios of people needs. The scenario you came up with is probably less than 1% of the usecases.

What's the reason for your exchange? Are you speculating or why would you want to buy GBP and keep it in Switzerland?
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