Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 25.03.2013, 12:22
gnaula's Avatar
Junior Member
 
Join Date: Nov 2011
Location: Graubuenden
Posts: 39
Groaned at 0 Times in 0 Posts
Thanked 15 Times in 10 Posts
gnaula has no particular reputation at present
Transferring money from CH to UK account- how long?

Yesterday (Sunday) I transferred a sum from my CH Raffeisen account to my HSBC account in the UK using online banking.

I have just checked both accounts. The money has left my CH account but is not yet in my UK account.

Anyone have any idea how long it usually takes for the money to be deposited?

Many thanks
Reply With Quote
  #2  
Old 25.03.2013, 12:27
Sbrinz's Avatar
Forum Legend
 
Join Date: Oct 2011
Location: Murten - Morat
Posts: 11,263
Groaned at 552 Times in 351 Posts
Thanked 10,866 Times in 5,581 Posts
Sbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

The money travels instantly, but the receiving banks usually like to keep your cash for at least 3 full working days.
Reply With Quote
  #3  
Old 25.03.2013, 12:33
gnaula's Avatar
Junior Member
 
Join Date: Nov 2011
Location: Graubuenden
Posts: 39
Groaned at 0 Times in 0 Posts
Thanked 15 Times in 10 Posts
gnaula has no particular reputation at present
Re: Transferring money from CH to UK account- how long?

Thanks Sbrinz!
Reply With Quote
  #4  
Old 25.03.2013, 13:09
Newbie 1st class
 
Join Date: Nov 2012
Location: Basel
Posts: 23
Groaned at 0 Times in 0 Posts
Thanked 7 Times in 5 Posts
Kechi16 has earned some respectKechi16 has earned some respect
Re: Transferring money from CH to UK account- how long?

Hi Gnaula,
I have a monthly transfer to my HSBC account in the UK and checked this morning and its gone out today and is showing in my HSBC account already, so maybe have a look later, it is usually quite quick.
Reply With Quote
  #5  
Old 25.03.2013, 14:14
gnaula's Avatar
Junior Member
 
Join Date: Nov 2011
Location: Graubuenden
Posts: 39
Groaned at 0 Times in 0 Posts
Thanked 15 Times in 10 Posts
gnaula has no particular reputation at present
Re: Transferring money from CH to UK account- how long?

On your advice Kechi I just had another check, and the money is in there now.... excellent!
Reply With Quote
  #6  
Old 16.09.2015, 21:56
Newbie
 
Join Date: Sep 2015
Location: saint prex
Posts: 1
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
JulienLefranc has no particular reputation at present
Re: Transferring money from CH to UK account- how long?

Hi

I thought that banks are always more expensive than money transfer solutions, according to what I read on the worldbank prices report.

Isn't it true?
Reply With Quote
  #7  
Old 16.09.2015, 22:08
roegner's Avatar
Forum Legend
 
Join Date: May 2011
Location: Zurich
Posts: 3,821
Groaned at 106 Times in 82 Posts
Thanked 4,043 Times in 2,042 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

If the bank has to do a currency conversion they will take 2 days (to start with). Same currency is with SWIFT within seconds and can be debited and credited same day, but that depends on your bank
Reply With Quote
  #8  
Old 17.09.2015, 11:33
Member
 
Join Date: Jul 2011
Location: Gland
Posts: 178
Groaned at 0 Times in 0 Posts
Thanked 114 Times in 80 Posts
Macer is considered knowledgeableMacer is considered knowledgeableMacer is considered knowledgeable
Re: Transferring money from CH to UK account- how long?

In future, you might want to use CurrencyFair. You get a better fx rate, and if you accept the market rate, your transfer can be completed within the same day.
Reply With Quote
This user would like to thank Macer for this useful post:
  #9  
Old 17.09.2015, 11:38
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 793
Groaned at 2 Times in 2 Posts
Thanked 421 Times in 259 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

There are still people doing direct transfers without using currencyfair and/or transferwise?

You should really look into above, it'll save you a lot!
Reply With Quote
  #10  
Old 17.09.2015, 11:52
Th3Alchemist's Avatar
Senior Member
 
Join Date: Dec 2013
Location: ZG
Posts: 319
Groaned at 0 Times in 0 Posts
Thanked 375 Times in 141 Posts
Th3Alchemist has earned the respect of manyTh3Alchemist has earned the respect of manyTh3Alchemist has earned the respect of many
Re: Transferring money from CH to UK account- how long?

+1 for TransferWise

The only drawback is that TransferWise takes longer (arround 5 working days)
Reply With Quote
The following 2 users would like to thank Th3Alchemist for this useful post:
  #11  
Old 21.09.2015, 09:09
Senior Member
 
Join Date: Dec 2013
Location: Geneva area
Posts: 297
Groaned at 2 Times in 2 Posts
Thanked 310 Times in 136 Posts
hairybadger has earned the respect of manyhairybadger has earned the respect of manyhairybadger has earned the respect of many
Re: Transferring money from CH to UK account- how long?

FWIW: the time I did it, which was a few weeks ago, BCGE -> Lloyds took about 3 hours.
Reply With Quote
This user would like to thank hairybadger for this useful post:
  #12  
Old 27.09.2015, 17:56
Newbie 1st class
 
Join Date: Sep 2015
Location: Geneva
Posts: 12
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
zoelg has no particular reputation at present
Re: Transferring money from CH to UK account- how long?

The delay may not be the UK bank actually, as for me it just takes 1 day from UBS to HSBC UK. I also use Currencyfair for most transfers. The marketplace section is competitive
Reply With Quote
  #13  
Old 30.09.2015, 14:34
4rt's Avatar
4rt 4rt is offline
Junior Member
 
Join Date: Jul 2015
Location: Wettingen
Posts: 34
Groaned at 0 Times in 0 Posts
Thanked 36 Times in 18 Posts
4rt is considered knowledgeable4rt is considered knowledgeable4rt is considered knowledgeable
Re: Transferring money from CH to UK account- how long?

Quote:
View Post
+1 for TransferWise

The only drawback is that TransferWise takes longer (arround 5 working days)

Just called customer support. They explained that - unlike in the Euro zone - in Switzerland they use World Pay as the middleman, which is why there are occasional delays if you'd like to convert your CHF.

They said it would be a good idea to add one's payment and customer numbers to the payment reference field. Apparently, it allows them to track you transfer automatically and thus to speed up the process.
Reply With Quote
  #14  
Old 30.09.2015, 14:39
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 8,509
Groaned at 110 Times in 94 Posts
Thanked 14,955 Times in 5,254 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

It's not just international transfers that can take more than a day. I closed and transferred the balance of a PF account to my Raiffeisen account today; it has already left PF, but not yet appeared at the Raiffeisen.


As a point of interest, for how much would you consider 3rd party currency transfer tools; is it worth the hassle for smaller amounts? For example, I used one for transferring several 1000s from UK to here for a flat purchase some years ago, but I often send money home (<CHF 100.-) for sibling's birthdays etc and just do it bank to bank.
__________________
Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible c**t... me - Bricktop
Reply With Quote
  #15  
Old 30.09.2015, 15:27
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 14,370
Groaned at 213 Times in 185 Posts
Thanked 11,725 Times in 6,604 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

Quote:
View Post
It's not just international transfers that can take more than a day. I closed and transferred the balance of a PF account to my Raiffeisen account today; it has already left PF, but not yet appeared at the Raiffeisen.


As a point of interest, for how much would you consider 3rd party currency transfer tools; is it worth the hassle for smaller amounts? For example, I used one for transferring several 1000s from UK to here for a flat purchase some years ago, but I often send money home (<CHF 100.-) for sibling's birthdays etc and just do it bank to bank.
PF are always a day behind, thats historically why they charge less. If you make the transfer early in the morning it usually will arrive the same day.

I looked at transferring 85k, I had a rate from HSBC premier, which was slightly less good than currency fair so I opted to use currency fair. By the following day the market had moved slightly against me & the rate I got was worse than HSBC premier so it's not totally risk free.
Reply With Quote
  #16  
Old 30.09.2015, 15:47
Member
 
Join Date: Jul 2011
Location: Gland
Posts: 178
Groaned at 0 Times in 0 Posts
Thanked 114 Times in 80 Posts
Macer is considered knowledgeableMacer is considered knowledgeableMacer is considered knowledgeable
Re: Transferring money from CH to UK account- how long?

Quote:
View Post
As a point of interest, for how much would you consider 3rd party currency transfer tools; is it worth the hassle for smaller amounts? For example, I used one for transferring several 1000s from UK to here for a flat purchase some years ago, but I often send money home (<CHF 100.-) for sibling's birthdays etc and just do it bank to bank.
Personally, I would use a 3rd party tool for this. The saving might be quite small, but I also like the great control you have over the funds. That is, you can decide the rate, and you can then decide when to move the money. Once you have the account with transferwise or currencyfair, I think you have more control and it is easier and more flexible...
Reply With Quote
  #17  
Old 30.09.2015, 15:51
Member
 
Join Date: Jul 2011
Location: Gland
Posts: 178
Groaned at 0 Times in 0 Posts
Thanked 114 Times in 80 Posts
Macer is considered knowledgeableMacer is considered knowledgeableMacer is considered knowledgeable
Re: Transferring money from CH to UK account- how long?

Quote:
View Post

I looked at transferring 85k, I had a rate from HSBC premier, which was slightly less good than currency fair so I opted to use currency fair. By the following day the market had moved slightly against me & the rate I got was worse than HSBC premier so it's not totally risk free.
That is quite bad luck. Why did it take a day to move the money into a CurrencyFair account? I don't think this has ever taken more than an hour for my funds to arrive at CF.
Reply With Quote
  #18  
Old 30.09.2015, 17:13
smackerjack's Avatar
Forum Veteran
 
Join Date: Jun 2007
Location: U.K/VAUD
Posts: 2,082
Groaned at 14 Times in 7 Posts
Thanked 2,289 Times in 994 Posts
smackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond repute
Re: Transferring money from CH to UK account- how long?

One thing to be aware of for those who transfer to their UK accounts is that the rate of protection for funds is being reduced from £85,000 down to £75,000 shortly. So might be worth transferring soon is your balance exceeds that amount.
Reply With Quote
Reply

Tags
bank, transfer




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
Transferring money from/to UK AbFab Finance/banking/taxation 3 10.07.2011 22:06
Transferring Swiss CH into GBP UK Bank account skippy1961 Finance/banking/taxation 8 27.08.2009 22:53
Transferring funds from CH to ZA, how long should it take? CATIWE Finance/banking/taxation 5 23.10.2008 08:25
Postal Money Order to UK from CH-how does it work? flow23 Items for sale 3 15.09.2008 21:43
How long will transfering some money from UBS to CS account coomteng Finance/banking/taxation 2 27.08.2008 13:37


All times are GMT +2. The time now is 08:50.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0