Go Back   English Forum Switzerland > Living in Switzerland > Daily life  
Reply
 
Thread Tools Display Modes
  #1  
Old 07.08.2014, 08:36
ZurichJake56's Avatar
Junior Member
 
Join Date: Apr 2014
Location: Zurich, 8003 Switzerlan
Posts: 44
Groaned at 1 Time in 1 Post
Thanked 31 Times in 15 Posts
ZurichJake56 is considered knowledgeableZurichJake56 is considered knowledgeableZurichJake56 is considered knowledgeable
Best way (value) to exchange USD to CHF ?

So far, I have not been able to get a bank account as I arrived in Zurich two days ago and haven't received my permit B (student). I exchanged USD to CHF at the airport and got an exchange rate (.8337 USD / CHF ) nearly 9 % below the current rate that day of .9088 USD to CHF. At most places of business when I use my credit card I am getting a range of .86 to .90.
Is there a place, besides a bank that I have an account with, that I can exchange USD to CHF for an exchange rate that is closest to the daily rate.
I know the exchange companies and banks charge for this service and I won't actually get the posted rate for that particular day. Since there seems to be such a variance, I am asking where would be the best place to exchange - either for actual CHF notes or payment of services/products.
Thanks
Reply With Quote
  #2  
Old 07.08.2014, 11:08
Newbie 1st class
 
Join Date: Feb 2014
Location: Zurich
Posts: 18
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 7 Posts
San_001 has no particular reputation at present
Re: Best way (value) to exchange USD to CHF ?

Hi mate,

You might try to do this:

http://www.englishforum.ch/items-sal...0-usd-chf.html

Good luck!
Reply With Quote
  #3  
Old 07.08.2014, 11:13
3Wishes's Avatar
Moderately Amused
 
Join Date: Jul 2010
Location: Bern area
Posts: 9,732
Groaned at 66 Times in 63 Posts
Thanked 15,529 Times in 7,113 Posts
3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute
Re: Best way (value) to exchange USD to CHF ?

Just get money from an ATM for now. You'll likely pay less in fees overall that way, and get a better exchange rate.
Reply With Quote
  #4  
Old 07.08.2014, 11:20
Junior Member
 
Join Date: May 2013
Location: Zurich
Posts: 49
Groaned at 5 Times in 3 Posts
Thanked 26 Times in 15 Posts
Y'sul has become a little unpopularY'sul has become a little unpopular
Re: Best way (value) to exchange USD to CHF ?

Mail it to the US, have someone put it into a US bank account. Then use one of the new breed of international transfer companies (I use HIFX.co.uk) to transfer it to your CHF bank account.

Drawbacks - risk of mailing money (theft and/or customs) or cost of mail insurance

Advantages - best rate by far


Whether this is a good option overall depends on the value you want to transfer of course.
Reply With Quote
  #5  
Old 07.08.2014, 11:26
Junior Member
 
Join Date: May 2013
Location: Zurich
Posts: 49
Groaned at 5 Times in 3 Posts
Thanked 26 Times in 15 Posts
Y'sul has become a little unpopularY'sul has become a little unpopular
Re: Best way (value) to exchange USD to CHF ?

oops, did not read your request properly.

anyway hope my info is useful for someone else!
Reply With Quote
  #6  
Old 07.08.2014, 13:37
ZurichJake56's Avatar
Junior Member
 
Join Date: Apr 2014
Location: Zurich, 8003 Switzerlan
Posts: 44
Groaned at 1 Time in 1 Post
Thanked 31 Times in 15 Posts
ZurichJake56 is considered knowledgeableZurichJake56 is considered knowledgeableZurichJake56 is considered knowledgeable
Re: Best way (value) to exchange USD to CHF ?

Quote:
View Post
Mail it to the US, have someone put it into a US bank account. Then use one of the new breed of international transfer companies (I use HIFX.co.uk) to transfer it to your CHF bank account.

Drawbacks - risk of mailing money (theft and/or customs) or cost of mail insurance

Advantages - best rate by far


Whether this is a good option overall depends on the value you want to transfer of course.

I do have a us bank acct, and want to eventually send to a Swiss bank to pay rent, etc.
Does the international transfer companies do that ? Help to transfer money fron the us (usd) to a Swiss bank into CHF ? Of course all legal like.
Reply With Quote
  #7  
Old 07.08.2014, 14:41
Forum Veteran
 
Join Date: Jan 2013
Location: Basel
Posts: 609
Groaned at 1 Time in 1 Post
Thanked 366 Times in 221 Posts
BaselPT is considered knowledgeableBaselPT is considered knowledgeableBaselPT is considered knowledgeable
Re: Best way (value) to exchange USD to CHF ?

Quote:
View Post
I do have a us bank acct, and want to eventually send to a Swiss bank to pay rent, etc.
Does the international transfer companies do that ? Help to transfer money fron the us (usd) to a Swiss bank into CHF ? Of course all legal like.
Have a look at CurrencyFair and TransferWise.
Reply With Quote
  #8  
Old 07.08.2014, 19:22
Junior Member
 
Join Date: May 2013
Location: Zurich
Posts: 49
Groaned at 5 Times in 3 Posts
Thanked 26 Times in 15 Posts
Y'sul has become a little unpopularY'sul has become a little unpopular
Re: Best way (value) to exchange USD to CHF ?

Quote:
View Post
I do have a us bank acct, and want to eventually send to a Swiss bank to pay rent, etc.
Does the international transfer companies do that ? Help to transfer money fron the us (usd) to a Swiss bank into CHF ? Of course all legal like.
Yep, that's what they do. Complete legal businesses. There are a few competitors, you can compare them here:

http://www.moneysupermarket.com/curr...RANSFERSMEDIUM
Reply With Quote
  #9  
Old 07.08.2014, 22:12
Member
 
Join Date: May 2013
Location: basel or Zurich
Posts: 146
Groaned at 1 Time in 1 Post
Thanked 53 Times in 37 Posts
ciao has no particular reputation at present
Re: Best way (value) to exchange USD to CHF ?

I'm not sure which type of bank account you have but most bank offer special checking account that waives wiring fee (for sending out) (with some balance above xxx, e.g. $5000 or above).

Just use ATM card. You might have to pay $3 transaction fee (so withdraw max at each time) but it applies daily exchange rate.

Try Post Finance or UBS for bank account. They let US citizens open an account.
Reply With Quote
  #10  
Old 08.08.2014, 09:50
cheesey's Avatar
Forum Veteran
 
Join Date: Aug 2010
Location: Zurich
Posts: 1,148
Groaned at 25 Times in 22 Posts
Thanked 1,784 Times in 574 Posts
cheesey has a reputation beyond reputecheesey has a reputation beyond reputecheesey has a reputation beyond reputecheesey has a reputation beyond reputecheesey has a reputation beyond repute
Re: Best way (value) to exchange USD to CHF ?

Dear SJacobson56, we can help. Just use Western Union to transfer the money to us and we will convert it to special bitcoins which rise in value really quickly. We will transfer back the bitcoins to the value exactly matching the interbank FX rate conversion of the original amount on the day of the deal + 10%.

You cannot lose, you know it makes sense.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Want to exchange cash CHF --> USD parnell Finance/banking/taxation 10 02.10.2013 22:58
Want to exchange USD -> CHF shahab Finance/banking/taxation 3 01.10.2013 11:55
Want to exchange USD -> CHF sankbhat Finance/banking/taxation 6 28.08.2013 09:29
Best way to convert CHF to USD? fareastcoast Finance/banking/taxation 2 24.05.2013 19:36
Best way to access USD paycheck? cfarns Finance/banking/taxation 23 19.09.2007 14:42


All times are GMT +2. The time now is 19:49.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0