Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #21  
Old 11.08.2021, 17:17
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Hello all, reactivating this thread. Based on the information here I opened a Wise account (using one of the links here). However, I am now told it is *not* possible to hold funds in CHF. Can someone tell me if Revolut still allows a CHF account. (Residence is no longer in Switz. but I thought that didn't matter.) Advance Thanks.
I currently have a CHF balance with Revolut, CurrencyFair & Wisr

Last edited by fatmanfilms; 11.08.2021 at 18:06. Reason: Edit & wise
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #22  
Old 11.08.2021, 17:36
evop's Avatar
Member
 
Join Date: Jan 2018
Location: Zürich
Posts: 238
Groaned at 6 Times in 6 Posts
Thanked 316 Times in 142 Posts
evop has earned the respect of manyevop has earned the respect of manyevop has earned the respect of many
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Hello all, reactivating this thread. Based on the information here I opened a Wise account (using one of the links here). However, I am now told it is *not* possible to hold funds in CHF.
That is interesting. I definitely have CHF and GBP funds on balances at my account right now (as available in many other currencies - just open a corresponding balance).
You can have a balance in CHF, send from, pay with and fund it. You can not only receive direct payments from third parties in CHF, AFAIK.
Reply With Quote
This user would like to thank evop for this useful post:
  #23  
Old 12.08.2021, 22:13
Newbie 1st class
 
Join Date: Dec 2017
Location: US & Vaud
Posts: 22
Groaned at 0 Times in 0 Posts
Thanked 21 Times in 5 Posts
Montagnard has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
That is interesting. I definitely have CHF and GBP funds on balances at my account right now (as available in many other currencies - just open a corresponding balance).
You can have a balance in CHF, send from, pay with and fund it. You can not only receive direct payments from third parties in CHF, AFAIK.
Ah, there lies the rub- I need to be able to receive a CHF payment, and be able to pay from the accout in CHF. I guess Revolut will be better. Sigh.
Reply With Quote
  #24  
Old 13.08.2021, 06:46
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,746
Groaned at 118 Times in 82 Posts
Thanked 7,627 Times in 3,461 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Ah, there lies the rub- I need to be able to receive a CHF payment, and be able to pay from the accout in CHF. I guess Revolut will be better. Sigh.
With Wise you can pay in CHF and hold CHF and pay CHF, but you don’t get your own personal Swiss account number - but this is the same with Revolut.
Reply With Quote
  #25  
Old 13.08.2021, 13:27
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,746
Groaned at 118 Times in 82 Posts
Thanked 7,627 Times in 3,461 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Is Wise based in Norway? Every time I buy something on Amazon.de it asks me if I want to pay in NOK
Reply With Quote
  #26  
Old 14.08.2021, 10:00
Newbie 1st class
 
Join Date: Jun 2017
Location: Lugano
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 4 Posts
petemir has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Is Wise based in Norway? Every time I buy something on Amazon.de it asks me if I want to pay in NOK
London-based, and funded by two estonians according to Wikipedia .
Reply With Quote
  #27  
Old 14.08.2021, 10:49
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,746
Groaned at 118 Times in 82 Posts
Thanked 7,627 Times in 3,461 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
London-based, and funded by two estonians according to Wikipedia .
So weird that it thinks my card is Norwegian
Reply With Quote
  #28  
Old 01.09.2021, 12:02
Newbie 1st class
 
Join Date: Aug 2021
Location: Vaud
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
wmertens has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
I got revolut and at the beginning had to use transferwise to load up with CHF. I.e. UBS-->Transferwise-->Revolut. Now I think I can load revolut with CHF with no charge.

From what I've seen, transferwise always charges 1% loading on the exchange rate. Revolut doesn't. I pay for premium as I move CHF or GBP depending on the rate. You can set alerts for exchange-rates or even auto-exchanges. I made a few CHF during Brexit which more than covered the annual fee, more than exceeded any interest from a bank account, but of course all my CHF is worth less than before.
I also have a UBS account and when I try to fund Revolut I either have to pay a hefty CC fee (tried UBS Visa Debit and UBS Mastercard) or a CHF 5 transfer fee for the international transfer to the Lithuanian IBAN they give me.

How do you use Wise for the free transfer? You transfer CHF to CHF?
Reply With Quote
  #29  
Old 01.09.2021, 13:02
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
I also have a UBS account and when I try to fund Revolut I either have to pay a hefty CC fee (tried UBS Visa Debit and UBS Mastercard) or a CHF 5 transfer fee for the international transfer to the Lithuanian IBAN they give me.

How do you use Wise for the free transfer? You transfer CHF to CHF?
Yea CHF to CHF. Only do currency conversions within revolut. You shouldn't be charged for adding your base currency by bank transfer.

I personally have revolut premium, which I recommend for those doing monthly transfers.

Last edited by HickvonFrick; 01.09.2021 at 13:35.
Reply With Quote
  #30  
Old 01.09.2021, 16:15
otec's Avatar
Forum Veteran
 
Join Date: Jun 2021
Location: Lugano
Posts: 644
Groaned at 249 Times in 110 Posts
Thanked 491 Times in 244 Posts
otec is considered unworthyotec is considered unworthyotec is considered unworthyotec is considered unworthy
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Yea CHF to CHF. Only do currency conversions within revolut. You shouldn't be charged for adding your base currency by bank transfer.

I personally have revolut premium, which I recommend for those doing monthly transfers.
Wrong.

Even when you do CHF to CHF transfer, if target bank doesn't happen to be Revolut's intermediary bank you would pay around 8CHF fee. Not to revolut, but to that middle bank.

As I understand Revolut's intermediary bank in Swiss is Raifassen.

For example if I transfer Revolut CHF to PostFinance CHF via IBAN, I get 8CHF less.
Reply With Quote
  #31  
Old 01.09.2021, 16:34
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,746
Groaned at 118 Times in 82 Posts
Thanked 7,627 Times in 3,461 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
I also have a UBS account and when I try to fund Revolut I either have to pay a hefty CC fee (tried UBS Visa Debit and UBS Mastercard) or a CHF 5 transfer fee for the international transfer to the Lithuanian IBAN they give me.

How do you use Wise for the free transfer? You transfer CHF to CHF?
You can do a Swiss bank transfer to both Revolut and Wise using their Iban and there is no charge.
Reply With Quote
This user would like to thank Island Monkey for this useful post:
  #32  
Old 01.09.2021, 16:42
Newbie 1st class
 
Join Date: Aug 2021
Location: Vaud
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
wmertens has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
You can do a Swiss bank transfer to both Revolut and Wise using their Iban and there is no charge.
The only IBAN that Revolut shows me is their LT#### one in Lithuania, and I have to pay UBS 5CHF to transfer 500CHF to it .

You'd think that with all the account fees they're already charging they let you have some things for free but no.

I hope I get my hardcopy permit soon, I'm guessing Neon won't be as greedy but they won't accept an attestation.
Reply With Quote
  #33  
Old 01.09.2021, 16:45
Newbie 1st class
 
Join Date: Aug 2021
Location: Vaud
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
wmertens has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Yea CHF to CHF. Only do currency conversions within revolut. You shouldn't be charged for adding your base currency by bank transfer.

I personally have revolut premium, which I recommend for those doing monthly transfers.
Wise won't let me send CHF to CHF :-( Might consider Premium indeed
Reply With Quote
  #34  
Old 01.09.2021, 17:08
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,746
Groaned at 118 Times in 82 Posts
Thanked 7,627 Times in 3,461 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Are your accounts set up with a Swiss address? Because I have a Swiss iban for both companies.
Reply With Quote
This user would like to thank Island Monkey for this useful post:
  #35  
Old 01.09.2021, 17:49
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Are your accounts set up with a Swiss address? Because I have a Swiss iban for both companies.
Presumably as he's new he doesn't. This will need changing to avoid fees down the line. For now transferwise will probably be cheaper.
Reply With Quote
  #36  
Old 01.09.2021, 18:51
Newbie 1st class
 
Join Date: Aug 2021
Location: Vaud
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
wmertens has no particular reputation at present
Re: Revolut vs (Transfer)Wise

Quote:
View Post
Presumably as he's new he doesn't. This will need changing to avoid fees down the line. For now transferwise will probably be cheaper.
Right, forgot about that. I suppose, just like Neon, they won't take the temporary attestation as proof either.

I also wonder if then my EUR recharges will suddenly cost money?
Reply With Quote
  #37  
Old 02.09.2021, 07:04
scrabblegrey's Avatar
Member
 
Join Date: Jan 2016
Location: Baden - East corner of my sofa
Posts: 246
Groaned at 25 Times in 15 Posts
Thanked 224 Times in 129 Posts
scrabblegrey has earned the respect of manyscrabblegrey has earned the respect of manyscrabblegrey has earned the respect of many
Re: Revolut vs (Transfer)Wise

Quote:
View Post
I hope I get my hardcopy permit soon, I'm guessing Neon won't be as greedy but they won't accept an attestation.
If you have spare time and you speak a bit of German, you may try your luck with DKB, German online bank providing free EUR account with SEPA and what’s not, they were ok in accepting people with residence in Switzerland years ago
Reply With Quote
  #38  
Old 02.09.2021, 23:29
Forum Veteran
 
Join Date: Aug 2010
Location: Zurich
Posts: 1,060
Groaned at 2 Times in 2 Posts
Thanked 1,349 Times in 673 Posts
irish_temptation has a reputation beyond reputeirish_temptation has a reputation beyond reputeirish_temptation has a reputation beyond reputeirish_temptation has a reputation beyond repute
Re: Revolut vs (Transfer)Wise

For a Euro account use N26. Its a German bank with a Swiss subsidiary which offers a free account if you life in Switzerland. I pay CHF 0.30 to transfer money from my other Swiss account
Reply With Quote
  #39  
Old 28.10.2021, 09:57
Member
 
Join Date: Dec 2014
Location: Zurich
Posts: 219
Groaned at 1 Time in 1 Post
Thanked 24 Times in 20 Posts
MitzEclipse has no particular reputation at present
Re: Revolut vs (Transfer)Wise

has anyone had any issues using Wise to replace traditional high street banks? eg UK mortgage payments? contacting Wise via their chat, they didn't see to know
Reply With Quote
  #40  
Old 03.11.2021, 09:57
Member
 
Join Date: Feb 2013
Location: TI
Posts: 176
Groaned at 13 Times in 7 Posts
Thanked 277 Times in 140 Posts
chrissie7 has an excellent reputationchrissie7 has an excellent reputationchrissie7 has an excellent reputationchrissie7 has an excellent reputation
Re: Revolut vs (Transfer)Wise

Quote:
View Post
has anyone had any issues using Wise to replace traditional high street banks? eg UK mortgage payments? contacting Wise via their chat, they didn't see to know
I use Wise now as a replacement for TSB and had no problems so far with direct debits or payments in.

Wise's chat is not always very clued up. I asked about transferring CHF from my Swiss bank account to a Wise euro account, and she was very vague on the details.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
EUR transfer to Revolut from Postfinance Adidas Finance/banking/taxation 9 01.06.2021 19:02
Something like revolut Island Monkey Finance/banking/taxation 16 29.09.2020 17:02
Revolut IBAN CH how should I fill out domestic transfer form ? gazexy Finance/banking/taxation 4 21.08.2020 16:06
Transfer Wise vs. Currency Fair vs. Currencies Direct josquius Finance/banking/taxation 12 29.05.2017 04:48
weird pension situation. transfer to qrops fund here transfer out to swiss resident Guest Finance/banking/taxation 12 23.07.2015 16:43


All times are GMT +2. The time now is 03:21.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0