Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 25.05.2011, 17:13
aladrieth's Avatar
Junior Member
 
Join Date: Apr 2011
Location: Brugg
Posts: 49
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 14 Posts
aladrieth has no particular reputation at present
Exchanging CAD to CHF

Quote:
View Post
For your general questions (#1 & #2) try the Lonely Planet Switzerland book, or any other travel guide. !
I'm moving to Switzerland this Friday. Having never done a currency exchange before, I gave little thought to the process and didn't realize until too late that my bank would need about a week to get the cash. Now, I have to use an exchange centre with a much worse rate. So, I'm wondering how easy it is to buy francs in Switzerland, in the hopes that maybe I can just get a small amount here and the rest of what I need upon arrival. If I were to walk into a bank in CH, would it be possible to buy some francs at a reasonable rate with my credit card, debit, or some Canadian cash, if I brought some of that?

My travel guide says "Currency can be exchanged over the counter at banks," but I'm not sure any Swiss bank would have any desire to get a large sum of CAD. I have a personal policy of avoiding ATM's because of the service charges and the increasing frequency of illegal scanners attached inconspicuously to legit machines.
Reply With Quote
  #2  
Old 25.05.2011, 17:19
adrianlondon's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Basel
Posts: 9,131
Groaned at 170 Times in 153 Posts
Thanked 25,643 Times in 6,892 Posts
adrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond repute
Re: How to get Swiss Francs

Just use your ATM card to draw cash at the airport. I don't get all this hassle of ordering and buying foreign currencies before travelling, especially to countries which have a working banking system.
Reply With Quote
This user would like to thank adrianlondon for this useful post:
  #3  
Old 25.05.2011, 17:28
the_clangers's Avatar
Forum Veteran
 
Join Date: Sep 2009
Location: St. Louis, MO was St Prex, VD
Posts: 1,999
Groaned at 17 Times in 14 Posts
Thanked 1,185 Times in 697 Posts
the_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond repute
Re: How to get Swiss Francs

Quote:
View Post
I'm moving to Switzerland this Friday. Having never done a currency exchange before, I gave little thought to the process and didn't realize until too late that my bank would need about a week to get the cash. Now, I have to use an exchange centre with a much worse rate. So, I'm wondering how easy it is to buy francs in Switzerland, in the hopes that maybe I can just get a small amount here and the rest of what I need upon arrival. If I were to walk into a bank in CH, would it be possible to buy some francs at a reasonable rate with my credit card, debit, or some Canadian cash, if I brought some of that?
If you use ATMs in Swiss banks they have secure lobbies that can only be accessed with a valid bank card.

Just stick your debit card into an ATM and enter your pin number and withdraw money. Your bank charges you a foreign transaction fee of 1 to 3 percent and possibly a convenience fee as well and you are done. You do get the best exchange rates this way. I have done the math and you don't get better rates for over the counter exchanges versus ATM transactions unless you are moving a large sum of cash. By which I mean 20 or 30 thousand or more.

Best if you ask your bank which banks in Switzerland they partner with so that you can keep your fees down.

If you are moving then the best way to deal with it is to transfer money by wire from your bank in Canada to your bank in Switzerland, cause you are supposed to declare any cash over 10 thousand dollars that you transport between countries.

You can also write your Swiss bank a personal check and wait the two or three weeks that it will take to complete the transaction. Your Swiss bank will charge you 20 to 30 francs plus a small percentage (maybe). It is best to ask them at the Branch Office.

Good Luck.
__________________
Many men, of course, became extremely rich, but this was perfectly natural, and nothing to be ashamed of, because no one was really poor -- at least no one worth speaking of. - Douglas Adams
Reply With Quote
The following 2 users would like to thank the_clangers for this useful post:
  #4  
Old 25.05.2011, 17:38
The_Love_Doctor's Avatar
Forum Legend
 
Join Date: Aug 2009
Location: Zugerberg, Zug
Posts: 3,266
Groaned at 72 Times in 58 Posts
Thanked 3,715 Times in 1,747 Posts
The_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond repute
Re: How to get Swiss Francs

Quote:
View Post
So, I'm wondering how easy it is to buy francs in Switzerland...
Very easy... Just PM with how much you need
Reply With Quote
  #5  
Old 25.05.2011, 18:38
aladrieth's Avatar
Junior Member
 
Join Date: Apr 2011
Location: Brugg
Posts: 49
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 14 Posts
aladrieth has no particular reputation at present
Re: How to get Swiss Francs

Quote:
View Post
Very easy... Just PM with how much you need
PM means personal message, I'm guessing? Anyway, looks like I'm okay. With the reassurances about using ATM's, I looked up what kind of ATM's my bank is connected with, then searched for them in Zurich and Baden, and found tons. None in the airport, though, which is kinda weird.
Reply With Quote
  #6  
Old 25.05.2011, 19:13
JanerMacP's Avatar
Forum Veteran
 
Join Date: Feb 2007
Location: Turgi, AG
Posts: 1,101
Groaned at 3 Times in 3 Posts
Thanked 791 Times in 428 Posts
JanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputationJanerMacP has an excellent reputation
You can use your ATM card at 99% of the machines here. CIBC charges me $5 for each transaction, so take out a couple hundred francs at a time.
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
3D CAD and Graphics Charge Out Rates Gully Business & entrepreneur 2 13.01.2012 10:10
Bizarre Behaviour exchanging a HD cyrus Daily life 4 13.05.2011 11:44
Columbus: A splendid chap, or a bit of a cad? Guest General off-topic 26 08.10.2010 13:21
CAD/basic engineering User184 Employment 0 23.02.2010 16:13


All times are GMT +2. The time now is 10:17.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0