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Old 15.07.2010, 23:12
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Re: What is the cheapest way to transfer money from UK to Swiss bank account?

I've used Oz Forex several times. I'm Australian and they are an Australian company, but they operate internationally and have bank accounts in the UK and Switzerland -- meaning that provided you can transfer funds free of charge from your UK bank account to theirs, e.g. by internet banking, then there are no fees payable for transferring money from the UK to CH. The exchange rate is better than that offered by your bank, too.

Here's how it works: you set up an account with Oz Forex. This may take several days as trading legislation requires them to check you out to some extent, but once you're set up each trade is very quick. Once you're set, you check their web page for the current rate and do the trade online. You can play around, trying to catch the best possible rate if you wish, as it can change every minute or so. Once you've committed to the trade, they call you (wherever you are) to verify the details. You then transfer funds (say, in GBP) to their bank account in the UK and they (very promptly) transfer the agreed sum in CHF to your nominated bank account in Switzerland. You may be advised that your Swiss bank may charge you. but I never have been (UBS).

As I said, no fees (provided the amount is high enough -- and the hurdle is not all that high) and the exchgange rate is better than the usual retail rate.

The only catch is that you have to take that initial step of trusting an online currency exchange website. I did -- and they are genuine. If you trust me, that is.
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