Perfect, thanks!

Will get onto it now.

Hi Ormesome, thanks for the links but I'm afraid I couldn't use the N26 link as my son-in-law had already set me up an account and I already have the card.


Anyway, I setup a transferwise account and then transferred Fr 1k into it this morning. Less than an hour later I had confirmation that the cash had arrived so a made a transfer of €800 to my N26 account. The money was there *seconds* later, awesome!


I will certainly be using this process more often instead of paying all those irksome credit card fees.


Thanks for your advice!

No problem. Glad you got it sorted. Both TransferWise and N26 will save you heaps of money in fees. You mention you transferred to TransferWise and then to N26. You can do this without doing 2 steps. Just add your N26 details to TransferWise and then you just have to use the details that TransferWise gives you to send the money to them. You can do this via bank transfer or via debit card payment. I have UBS and they only have V-pay só can’t use the debit card function so I have to do a bank transfer. It’s cheaper anyway so it’s ok.

Hi,

Not sure if I'm getting this right, does N26 provide CHF account?

N26 is a German based bank that offers a free Euro mastercard debit card.

Depending on the chosen card package (free, better, even better!) you get 5 free cash withdrawals in Euroland per month and all other card payments are free.

You need to stock up your N26 with Euros before using it.

If you live in Switzerland, you open a TransferWise CHF account and you can transfer CHF to it for free.

You then use TW to stock up your N26 card with Euros at a very good exchange rate (better than the CH banks).

Thanks! Makes complete sense
Do they ship the card to Switzerland addresses?

No probs.


Yes card is shipped in about a week to 10 days.


If you want to get a sign up bonus, use the links in Ormesome's post above

I still wonder why a bank names itself after streets in Kongo (and(or in Guinea).

But don't minde me.

Ireland, too.

I'm not sure I get the excitement over this. I live in Switzerland. I have a bank account with Crédit Agricole in France. (I just asked for one, they said yes. Or oui.) It's denominated in euros, of course. I have a Visa or MasterCard (can't remember which) debit card. I use a currency broker to convert CHF to EUR and send the money to my account in France. The account is free. They even allow me to go overdrawn without charge for a bit.

How is N26 different?

Check the CHF to EUR exchange rate offered by your banks.


TransferWise is certanly better

You can do your deals on the handy - while you get run over by a car because you intently watched the market to buy stock at the exact right moment.

N26 may be coming to Switzerland, but it's exiting the UK... thanks, Brexit.

Hi! Does anyone know, is N26 also good for the other direction? Getting euros on an N26 account, and paying bills in Switzerland in CHF with it?
Does it work via transferwise again?

It’s a Euro account with a german IBAN só I’m not sure how you would actually use it properly in Switzerland. I don’t anyway, and I have only paid things here via the scan & pay part of UBS so unsure how you use a foreign account to pay for things. Ok sure someone will come along with better advice though.

TransferWise is built in and on the last transfer I did with N26 from Euro to £, it was cheaper in app (N26) than direct with TransferWise. Not sure why and it defo wasn’t conversion rate.

If you pay/withdraw cash in any other currency that € (in Euroland) then N26 will apply charges so it is not a good idea to use it that way.


Transferwise is your best bet.

Yup, 1.7% on all withdrawals outside Euro zone but if the card is used or transfers then there is no fee.

Perhaps we should ask one of the @mod to change the title to "kill your credit card fees" or something similar - I came in randomly, only to find a treasure trove of information on what I was researching in the past week (i.e. the proposed new title).

I am pissed at my bank and cc company for nibbling on each transaction which is not CHF and/or not in Switzerland.

Calling on the collective knowledge to check if my current understanding of the new landscape is correct:

Revolut - zero-fee payments in CHF but also great exchange rates on payments in EUR. Gets messy if used for ATM withdrawals.
N26 - excellent EUR-based bank account, zero fees for payments + limited number of EUR withdrawals per month?
Trasferwise - excellent for sending money from your CHF bank to the N26 EUR account, and generally for cross-currency transfers?

So, if I keep my current bank-issued credit card for cashback in Switzerland (pay everything in CHF in Switzerland with it) + get a Revolut for everything else, I should be zero fees? How did you solve the silent fee robbery?

That, basically. Transfers to Revolut in CH are now free, and I very very rarely need to use cash anyway...

Aren't they a K-pop band?

Tom

N26 free card = 5 free cash withdrawals per month in €land