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Old 17.12.2014, 19:24
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Hidden Wire transfer fees (USD - CHF)

I just transferred some US dollars from my US bank account to a Credit Suisse account and received some exorbitant fees. Can someone please shed some light on this...
To transfer around CHF 2200 I paid a transfer fee of $40 (which is okay, I knew ahead of time) but apparently I also paid CHF 28.00 in "other fees". Meaning that it cost me around $75 plus the loss on the exchange rate to send money.

Does anyone know what this "other fee" is? From what I can tell, Credit Suisse does not charge for incoming transfers. Thanks!
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Old 17.12.2014, 20:53
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Re: Hidden Wire transfer fees (USD - CHF)

USD 40 are fees from your US bank, CHf 28 are fees from Credit Suisse. Sounds about right to me, plus you transfered USD to a Chf account
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Old 17.12.2014, 21:01
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Re: Hidden Wire transfer fees (USD - CHF)

Thank you. From my google search though it seems Credit Suisse doesn't charge anything for an incoming transfer. Even if they did, wouldn't the recipient be responsible for the fee on their end?
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Old 17.12.2014, 21:43
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Re: Hidden Wire transfer fees (USD - CHF)

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Thank you. From my google search though it seems Credit Suisse doesn't charge anything for an incoming transfer. Even if they did, wouldn't the recipient be responsible for the fee on their end?
All depends on how the transger was made and who was responsible for paying fees.

Could be shared, all for beneficiary or all for party paying

(the devil is in the detail, shared costs are customary practice)
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Old 17.12.2014, 22:28
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Re: Hidden Wire transfer fees (USD - CHF)

This is a prime example of why not to transfer directly, but to use an online-fx-broker such as currencyfair or transferwise.
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Old 18.12.2014, 09:16
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Re: Hidden Wire transfer fees (USD - CHF)

Agree with ChrisNeedsToKnow!
When it comes to money, very important to do your research.
Ask about transfer fees, receiving fees, commissions, exchange rates and any other 'hidden' costs. You could get an excellent rate but it's all about the amount that ends up in your account at the end of the day.
This is where the independent money transfer providers usually beat the banks!
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Old 18.12.2014, 09:26
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Re: Hidden Wire transfer fees (USD - CHF)

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Thank you. From my google search though it seems Credit Suisse doesn't charge anything for an incoming transfer. Even if they did, wouldn't the recipient be responsible for the fee on their end?
Haven't experience that at CS either, just incurred a fixed fee at my end.
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Old 18.12.2014, 13:07
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Re: Hidden Wire transfer fees (USD - CHF)

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...Like webmoney or paypal?...
If you want to waste even more on fees than with CS or other banks, then that´s indeed the way to go!
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