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  #301  
Old 23.05.2017, 21:48
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Re: Multi Currency Credit Card ["Revolut"]

My PostFinance transfer came through. I sent 1000 CHF. PostFinance did not charge me 2 CHF separately. Revolut received 992 though. So the fees provided by ivank look correct.

So it works like this: I send 1000 CHF, PostFinance takes 2 CHF from this and sends 998 down the road. Then the intermediary bank takes another 6 CHF, so 992 CHF arrive at Revolut.

This total fee of 8 CHF will be constant up to 10'000 CHF (according to numbers by ivank). So for me the cost was 0.8%, which is worse than the Transferwise conversion fee. At 1600 CHF both methods should cost the same, but the direct top up is of course less trouble.
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  #302  
Old 23.05.2017, 22:02
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Re: Multi Currency Credit Card ["Revolut"]

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The best top solution I see thus far for Swiss residents:
Use my PostFinance Visa. Top up with a fee of 1%. Receive cashback of PostFinance of 0.3%. End up paying a fee of 0.7%.
Just transfer through a bank with lowest commissions and a proven track record of no surprise intermediaries with unspecified charges

Swissquote: 2 CHF per CHF transfer CH -> UK and no intermediary charges in my experience. Plain cash account keeping is free, as long as you don't hold any stocks through them for which they do charge

Or transfer euros, SEPA transfers are free at most banks.
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  #303  
Old 24.05.2017, 17:14
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Re: Multi Currency Credit Card ["Revolut"]

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Just transfer through a bank with lowest commissions and a proven track record of no surprise intermediaries with unspecified charges

Swissquote: 2 CHF per CHF transfer CH -> UK and no intermediary charges in my experience. Plain cash account keeping is free, as long as you don't hold any stocks through them for which they do charge

Or transfer euros, SEPA transfers are free at most banks.
To which Swissquote Account do you refer? I have a Swissquote savings account and i can only send money to accounts under my name. Sending to Revolut is not possible. Did you try sending CHF from CH -> UK?
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  #304  
Old 24.05.2017, 17:19
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Re: Multi Currency Credit Card ["Revolut"]

Normal swissquote trading account

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Did you try sending CHF from CH -> UK?
Yes, worked perfectly fine and nothing got stolen by any intermediary bank along the way. Total cost 2 CHF
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  #305  
Old 25.05.2017, 11:19
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Re: Multi Currency Credit Card ["Revolut"]

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I've put through a CHF100.- transfer from Credit Suisse account. It will go through on Monday as I just entered the details in the afternoon.

I don't think I will get charged anything. I have made many CHF transfers before to accounts in the UK (GB IBAN) without any charges. I have one of their Bonviva packages which may or may not have something to do with it.

I will report back when the payments hits the Revolut card.
Well the transfer I made hasn't hit the card yet, upon further inspection, I just realised that I missed a digit from the reference number (7 digits instead of 8)!

I've just contacted support to see if they can sort it out, I guess it's one way of checking how easily they resolve issues like this.
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  #306  
Old 25.05.2017, 11:34
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Re: Multi Currency Credit Card ["Revolut"]

and problem solved! CHF100.- received in it's entirety with no deductions. I don't see any charges on my side.

PS: for the charges section I chose "division of charges" which is the default method for charges.
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  #307  
Old 28.05.2017, 23:18
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Re: Multi Currency Credit Card ["Revolut"]

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Normal swissquote trading account


Yes, worked perfectly fine and nothing got stolen by any intermediary bank along the way. Total cost 2 CHF
Hi Ivank do you choose fees as shared/division, OUR (source bank) or BEN (beneficiary bank) ? thanks!
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  #308  
Old 28.05.2017, 23:24
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Re: Multi Currency Credit Card ["Revolut"]

Shared. OUR is never a good idea. And shared vs BEN should only differ in whether 2 CHF will be deducted from payment or charged to your account in addition.
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  #309  
Old 28.05.2017, 23:35
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Re: Multi Currency Credit Card ["Revolut"]

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Shared. OUR is never a good idea. And shared vs BEN should only differ in whether 2 CHF will be deducted from payment or charged to your account in addition.
Thanks- I seem to recall Lloyds' charge is 2GBP, so I'll try the 2CHF option with 'shared' first
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  #310  
Old 29.05.2017, 22:06
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Re: Multi Currency Credit Card ["Revolut"]

I just discovered that Citibank London is apparently fully connected to local swiss interbank clearing system: BC-Number 89095 / Postkonto 87-383838-3. So you can actually transfer franks to it free of charge from any swiss bank as a domestic transfer.

I've tried the postal clearing today, it works, money arrived pretty late though after the end of the business day.

Will try clearing through SIC as well tomorrow. For future reference, Interactive Brokers' GB35 CITI 1850 0810 5696 74 is CH20 8909 5000 0105 6967 4 when translated to IBAN for SIC clearing.
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  #311  
Old 29.05.2017, 23:37
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Re: Multi Currency Credit Card ["Revolut"]

can you lay it down more clearly so that I can understand?
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  #312  
Old 29.05.2017, 23:50
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Re: Multi Currency Credit Card ["Revolut"]

You can transfer franks to accounts at Citibank London through their swiss postal account 87-383838-3 or IBANs of the form CHxx 8909 5000 xxxx xxxx x. This is a domestic transfer for swiss banks and so you can forget about international payment fees
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  #313  
Old 30.05.2017, 00:13
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Re: Multi Currency Credit Card ["Revolut"]

Revolut uses Lloyds though, are you on the right thread?
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Old 30.05.2017, 00:28
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Re: Multi Currency Credit Card ["Revolut"]

I just wanted to mention that while we were on the subject of payment fees.

Lloyds unfortunately is not on the list of banks connected to SIC (https://www.six-interbank-clearing.c...bc-number.html), but with the above way you could transfer and convert the money cheaply at IB (which is at Citi) and make further transfers in euros anywhere via SEPA, which is free at most banks. I used this with Revolut before they supported CHF

Last edited by ivank; 30.05.2017 at 00:40.
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  #315  
Old 30.05.2017, 00:34
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Re: Multi Currency Credit Card ["Revolut"]

OK I see......sticking with the Swissquote way for now for Revolut til they provide a better option (assuming it goes through ok tomorrow with only 2chf fee), but the info you gave is certainly useful for funding my IB account thanks!
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  #316  
Old 04.06.2017, 13:58
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Re: Multi Currency Credit Card ["Revolut"]

I can't confirm the Swissquote method: 100chf transferred at a cost at Swissquote of 102chf: 100chf arrived at Revolut. I chose 'division of charges' method.
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  #317  
Old 13.06.2017, 21:02
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Re: Multi Currency Credit Card ["Revolut"]

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Normal swissquote trading account


Yes, worked perfectly fine and nothing got stolen by any intermediary bank along the way. Total cost 2 CHF
Unfortunately i can't confirm that. I sent 200.- CHF (charged 202.- @ Swissquote), but only 175.- arrived at Revolut. So 25.- was charged as intermediary fee. I will check who it was. Either Swissquote or Loyds Bank.
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  #318  
Old 13.06.2017, 21:21
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Re: Multi Currency Credit Card ["Revolut"]

My experience was with transfers to Citi. Never had to transfer anything to Lloyds.

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I will check who it was.
Maybe UBS, it's listed as their correspondent bank for CHF

Last edited by ivank; 13.06.2017 at 21:35.
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  #319  
Old 14.06.2017, 00:48
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Re: Multi Currency Credit Card ["Revolut"]

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Unfortunately i can't confirm that. I sent 200.- CHF (charged 202.- @ Swissquote), but only 175.- arrived at Revolut. So 25.- was charged as intermediary fee. I will check who it was. Either Swissquote or Loyds Bank.
That is very weird.....did you chose the 'shared/division of charges' option?

As I said about, minus the 2chf fee, my experience was the full amount was received by Revolut
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  #320  
Old 14.06.2017, 02:00
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Re: Multi Currency Credit Card ["Revolut"]

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That is very weird.....did you chose the 'shared/division of charges' option?
yes i did...
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