Hi, was is your opinion on this offering from swissquote?

https://en.swissquote.com/sites/swis...itions_en_.pdf

seems quote convenient:

TWELVE
CURRENCIES.
ZERO FEES*.

You need to be a Swissquote trading customer to apply.

First year is free, then CHF100/200 silver/gold card (Mastercard).

So I pay 1.75% to convert to CHF with my current MasterCard. This means I would need to spend 5,714 or 11,428 to make Swissquote‘s deal worth it.

Of course if you pay for your cc, then the deal looks good. Also it comes down to a question of what rate of exchange they use...

Are you sure about that? 1.75% is what they charge explicitly on top of an already ridiculous exchange rate, all in all it's prob 4-5%

Last time I checked they were charging ~ 1% to convert currency, but the point of this card seems to be that you don't have convert money with them, you can bring in your currency from elsewhere then it won't cost any extra, just the yearly fee

It appears not to be a credit card, since you must have the funds in your account.

I had a look a few days back as they sent me the newsletter about it, as I have a trading account with them which I stopped using ages ago due to high fees.

It seems convenient on the surface but the devil is in the detail. The Zero Fees doesn’t hold water. Because they have zero annual fees upfront and then start charging them in later years. Also the 12 currencies have to be on your account with them to pay the bills otherwise they will convert automatically and charge fees on top. If you do exchange money directly and ensure you cash in the right currency, my experience with them is that they charge around 0.5-0.75% per exchange depending on the currency and the amount.

Seems to me like a free call option for them to charge you fees that could be avoided all together and to sucker you into other trading services.

I wouldn’t bother, Revolut beats this offering hands down, even the Transferwise card is probably better.

Nice try Swissquote. Try harder.

Thanks. Revolut has been recommended by someone else as well. I have to try it out.

Do you use Revolut as your only cc?

Can recommend Revolut. It was a blessing last time when I went on holidays in the UK and directly after that had to go to the US. Just swapped my EUR into GBP and then into US. Conversion rates are execellent, although I have heard that these are not as good during the weekend

I have been using Revolut for 6 months and am very satisfied with their offering.


The forex conversion rates are hands down the best on the consumer market.


They do charge a markup of 0.5% on the weekends but the simple solution to that is to just convert your weekend-needed-amount on Friday and then use it over the weekend without paying any fees.


The only downside is that the card is not accepted at certain automated petrol stations.


Topping up Revolut free of cost is a slight hassle. You need to transfer funds from your Swiss bank account to a Transferwise borderless account (CH IBAN) and then load up the Revolut card with the Transferwise debit card.


The transfer to Transferwise takes 1 day and the Revolut load-up is instantaneous.

For my CHF transactions I still mix and match as I get points from my credit card company (Swisscard) and for online bookings / travel insurance it might make a difference. I plan to eventually just use them but haven’t fully switched.

For U.K. transactions I have a UK credit card still so rarely use Revolut.

For everything else I swear by it. In Germany, France or while on holiday in countries where they support the currency and specially where they allow you to hold the currency as this makes it more cost effective when you can convert to the holding currency during the week to avoid the weekend mark-up. I’ve used it mainly for EUR, USD, ISK, HRK, TRY.

Also was looking on that option, besides the nice picture of the card, Swissquote has nothing to offer. Personally use both Revolut and Transferwise and very happy, also soon N26 should be in Switzerland probably worth to look especially for shopping over the border.

Revolut now has a Swiss IBAN.

And to avoud appearing stupid like I did: when you first get to the bank transfer screen, you have to scroll down to see all the details. The first screen shows only a flashing reference number, which left me scratching my head and searching the internet for the IBAN and Beneficiary. The tinternet told me to stop being so stupid and just scroll down. .

Hi everyone,

I found your topics during my research for my website onedebitcard.io about fees on card transaction (online/offline) and multi currency card. And I would like to add maybe some useful information.

I just compared the exchange rate between Transferwise(0.88704), Revolut (0.8870) & Swissquote. The first two give you the mid-price of the currency (https://transferwise.com/us/mid-market-rate) and for swissquote you have an exemple below:
Swissquote rate: 0.878744
(Apr 9, 2019 2:00:40 PM)
mid-rate: 0.887167
So will receive more on Revolut and Transferwise but they charges between 0.35%(most common currency) and 2%.


Compared this three solutions to a swiss debit or credit card from a bank like UBS. When you pay online/ offline with their debit card, you have a mark-up of 1.7%. Furthermore, for the debit card when you pay at a shop abroad, you have 1.5% fees or 1% of the amount. With your credit card, when you are paying offline or online on foreign company, you have a mark-up of 1.75%.

Those three cards are cheaper than cards from traditional banks. After I think it's depends really on the amount you want to hold on this account. Transferwise and Revolut are not a bank with a full banking license. So I would recommend to use this two only to spend your money and not hold. Revolut is really nice for trips and you can save up 5 to 10% but I won't put all my money over there.

Revolut and Transferwise are two famous startup that try to have hight growth before making money compared to Swissquote who has the obligation to make money. The important is to look for the services that don't hide fees and fit your needs.

Hope I help a little bit.

Regards

What charges on Revolut?? Never had any further when converting currencies

During the week, Revolut offers the mid-market rate with no fees and on weekends 0.5% fees. Transferwise charges you between 0.35%(most common currency) and 2%.

Revolut are in a spot of bother
https://www.google.ch/search?q=revolut+money+laundering

I use TransferWise FWIW with the green debit card

Way before they decided to launder money, Revolut's offering didn't seem as good as the TransferWise package.

Unless you are changing at least $100k (or equivalent) at a time the exchange rate makes very little difference, swings and roundabouts...


TW 0.88704
Revolut 0.88700
SQ 0.878744


over 100k, that makes



TW 88'704.--
Revolut 88'700.--
SA 87'874.40


Between TW & Revolut there is not even a cup of coffee, or a bottle of good wine if you change a million................does it really make any difference, honestly ?