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Old 08.01.2021, 16:51
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Depositing USD

Hello folks,

What options do I have to deposit USD (cash)?

What I've looked at so far:
  • I opened a USD account at PostFinance only to find out that they only take CHF or EUR at counters.
  • Convert cash -> cash at one of the various counters (e.g. ecotca.ch). In Zurich I found them charge a ~8% markup on the average market rate.
  • Deposit cash -> USD account. E.g. by Credit Suisse. CS charges ~4%markup on average market rate. They only offer this if you have a USD account at CS. As I already have one at PF, I'd only waste their and my time and money in creating an account and cancelling it right after the transfer.

I wonder if you're aware of any alternative options, e.g.
  • Cheaper services for cash -> cash exchange
  • Cash deposit and direct wire into my own account at other bank
  • Anything different altogether?

Thanks!
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  #2  
Old 08.01.2021, 21:02
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Re: Depositing USD

I had used Western Union for usd to chf . I don't remember the markup but it was reasonable.
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Old 08.01.2021, 21:11
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Re: Depositing USD

You can deposit USD cash into a USD account at UBS for free. You can then wire it wherever you want for free (well, CHF 5) such as to revolut.
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  #4  
Old 08.01.2021, 21:45
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Re: Depositing USD

There is normally a 1% handling fee for cash deposits is there not ? At least at CS paying gbp cash results in a 1% fee
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