Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 22.10.2008, 16:14
Junior Member
 
Join Date: May 2008
Location: Central Zurich (from Leeds, UK)
Posts: 65
Groaned at 0 Times in 0 Posts
Thanked 5 Times in 5 Posts
ashtraxx has no particular reputation at present
Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rates

Hello,

Need to transfer money from my CHF Swiss account to my GBP bank account in the UK- anyone able to advise best way?

Spoken with Xe.com who advised their CHF account is in London so not sure if will be worth the hassle paying an international transfer fee over just a normal bank transfer.

Many Thanks
Reply With Quote
  #2  
Old 22.10.2008, 16:19
jrspet's Avatar
Forum Legend
 
Join Date: Jul 2007
Location: Quaint Wädenswil, Zürich, CH
Posts: 8,149
Groaned at 27 Times in 20 Posts
Thanked 7,036 Times in 3,912 Posts
jrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond repute
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

I use Postfinance's E-finance. Very affordable rates and prompt. Transfers to SEPA accounts ( http://en.wikipedia.org/wiki/Single_Euro_Payments_Area ) are free.
Reply With Quote
  #3  
Old 22.10.2008, 16:20
Claireb82's Avatar
Junior Member
 
Join Date: May 2008
Location: Horgen
Posts: 96
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 15 Posts
Claireb82 has no particular reputation at present
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

I transfer once a month from my CH account to my GB, I just do it via an international transfer in my online banking, it costs me about 5CHF (could be more than this), only thing to watch is the exchange rate
Reply With Quote
  #4  
Old 22.10.2008, 16:52
denz's Avatar
Junior Member
 
Join Date: Feb 2008
Location: Kanton Zürich
Posts: 40
Groaned at 0 Times in 0 Posts
Thanked 9 Times in 9 Posts
denz has no particular reputation at present
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

I also transfer money each month - it costs me CHF5 and arrives usually in 2 days (Quicker than a GB -> GB transfer! )

I find the exchange rates very good, but I guess that depends on the banks involved?
Reply With Quote
  #5  
Old 22.10.2008, 17:19
Doctor's Avatar
Forum Veteran
 
Join Date: Sep 2008
Location: Zürich
Posts: 1,071
Groaned at 3 Times in 3 Posts
Thanked 527 Times in 323 Posts
Doctor has a reputation beyond reputeDoctor has a reputation beyond reputeDoctor has a reputation beyond reputeDoctor has a reputation beyond repute
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

Dont use Paypal.

I have 2 Paypal Accounts, and sending 1200 chf ended up costing me 109 chf :-(

Doc.
Reply With Quote
  #6  
Old 22.10.2008, 17:23
denz's Avatar
Junior Member
 
Join Date: Feb 2008
Location: Kanton Zürich
Posts: 40
Groaned at 0 Times in 0 Posts
Thanked 9 Times in 9 Posts
denz has no particular reputation at present
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

paypal is evil.
Reply With Quote
  #7  
Old 22.10.2008, 17:59
Junior Member
 
Join Date: May 2008
Location: Central Zurich (from Leeds, UK)
Posts: 65
Groaned at 0 Times in 0 Posts
Thanked 5 Times in 5 Posts
ashtraxx has no particular reputation at present
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

Quote:
View Post
I also transfer money each month - it costs me CHF5 and arrives usually in 2 days (Quicker than a GB -> GB transfer! )

I find the exchange rates very good, but I guess that depends on the banks involved?
Quote:
View Post
I transfer once a month from my CH account to my GB, I just do it via an international transfer in my online banking, it costs me about 5CHF (could be more than this), only thing to watch is the exchange rate
How do you compare the rates you got and to what? as maybe competitive to other banks but not normally anywhere near to specialists who are much near the actual stated currency exchange rate at that time.

Banks are notorious for loading curency rates on top of the 5CHF fee ie adding 1-5% admin fees hidden in the currency rate. Thats why they have different rates for over 100k/businesses as people who know would go elsewhere!
Reply With Quote
  #8  
Old 23.10.2008, 13:32
Member
 
Join Date: Jun 2008
Location: Baden
Posts: 221
Groaned at 1 Time in 1 Post
Thanked 156 Times in 79 Posts
greencelery has earned some respectgreencelery has earned some respect
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

When you book an international transfer with PostFinance, do they tell you which exchange rate they will apply before you commit to the transfer?

I was also considering XE, as the original poster said their CHF account is in London so an international transfer fee will still apply, but XE have the benefit (I think) that they tell you in advance what the rate is, so you know exactly what you will get.
Reply With Quote
  #9  
Old 23.10.2008, 13:42
muze7's Avatar
Forum Veteran
 
Join Date: May 2006
Location: Uk now after Neuchatel
Posts: 1,225
Groaned at 3 Times in 3 Posts
Thanked 148 Times in 94 Posts
muze7 is considered knowledgeablemuze7 is considered knowledgeablemuze7 is considered knowledgeable
Re: Anyone transfer money from Switzerland to UK? If so how to get lowest charge/rate

Check out www.wechselstube.com or.ch. They are Swiss and charge about 0.75% one way (so total spread back and forth is 1.5%). Over 10k, it is free I think if your bank is modern (uses IBAN Nrs for SEPA payments). Check the faq.

The rates are live until 11pm at night so you can pick your transfer. You can compare rates by going to Postfinance or UBS web sites, and look for the currency rates. I find both UBS and PF always to have more expensive rates than the site above. I am not affiliated with them, but like the transparancy and the rates, and most of all, with present exchange rate fluctations, that you can pick the time, and are not tied to rates set by banks.
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
Money Transfer from eBank coomteng Finance/banking/taxation 11 03.09.2008 12:54
Money transfer to US DennisH Finance/banking/taxation 7 28.06.2008 23:20
tax on international money transfer to Switzerland tutsaki Finance/banking/taxation 5 18.04.2008 21:26
Money transfer : UK to Switz Acto Finance/banking/taxation 9 22.07.2007 23:36


All times are GMT +2. The time now is 17:59.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0