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Old 09.09.2020, 09:48
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Phil_MCR Phil_MCR is offline
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Re: Banks - UBS, Revolut...

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I have both UBS and Revolut accounts. You may well be charged by UBS for the inbound payment (depending on your account) whereas you won't by Revolut just for openers. I have a basic expat account with UBS and sending 7k CHF recently directly from Revolut to UBS for a rent deposit, they took 14 CHF off it for the inbound payment for example.

If you're going to be sending quite high amounts it also makes sense to upgrade to the paid Revolut account at 6.99 a month, which removes the 5k per month exchange limit before you are charged for further exchanges.

I send almost all of my Swiss salary back to UK every month to pay my mortgage and it only costs my 5CHF to do the whole transfer which I do via:


UBS > Revolut in CHF (UBS charge 5 chf as my CHF Revolut IBAN is GB as was UK resident when set up)
Revolut > CHF exchange GBP (free as premium account)
Revolut > UK HSBC (free)

When I did a comparison rate check on UBS vs Revolut's rate a while ago it was a significant margin (i.e. a few %) so it makes a big difference.
contact revolut to change the account to a get a CH IBAN and avoid the 5chf per month charge
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