How to send money to Switzerland
Find out how to transfer money to Switzerland at the most competitive cost in 4 easy steps
1. Check the CHF mid-market exchange rate against the currency you want to send
Converting your money at the right time means more money arrives. You should subscribe to our smart alerts to keep an eye on the CHF mid-market's evolution.
2. Select the best deal by comparing the available companies.
There are plenty of money transfer companies to transfer money to Switzerland, such as TransferGo, TransferWise, Western Union, MoneyGram, CurrencyFair. Using the right company from the available options is a sure way to save money.
3. Choose the best option that suits your needs
Do you need to make a transfer to Switzerland with the most competitive provider, as quickly as possible or with the provider with the best ratings?
In addition, it is important to consider the pay-in and pay-out methods. You will often have providers offering to you the option to send the money from your bank account, some will also allow you to pay with your cards. To receive the money in Switzerland, select the right option, whether you need the amount in CHF to be sent directly to the recipient's bank account or be available for cash pick-up.
4. Sign up and get started wih your transaction with the company you selected
It is now time to register on the provider's homepage (you normally have to give information to prove your identity), and configure your transaction.
Which provider to use for transferring money to Switzerland?
As Switzerland is not part of the European Union, it is true that some of the latest money transfer providers don’t have the necessary authorisations to operate in Switzerland yet. While this limits the number of providers you can use to send money from Switzerland, there are plenty of good solutions to choose from.
Most people sending money in CHF in Switzerland transfer the money to a bank account, and many of them still do an international bank transaction for this purpose. While banks often have low (or even zero) fees, they make money by offering you poor exchange rates. By using online money transfer providers that specialize in converting money at the lowest cost possible, you can save a lot of money. Companies like TransferWise, Azimo, CurrencyFair, Xendpay or TransferGo, all offer to send money from almost anywhere in Europe and the US to Switzerland, with bank-beating exchange rates and transparent pricing.
The online services mentioned above are easy-to-use and convenient, but if you plan to make a larger transaction in CHF (say more than 5000 CHF), you may want to use the more personalized services of a foreign exchange broker. Exchange Market, b-Sharpe, Currency Solutions, Currencies Direct, and OFX are our recommendations for Switzerland, and we would be happy to gather the quotes from all these providers for you to help you decide which one to use.
Find out which provider is currently the cheapest for your next transfer to Swizterland
Switzerland is a very international country and there are many reasons why you would need to send money to Switzerland. Whether you are sending money to Switzerland for business or personal matters, it is essential to compare your options before each transaction to find the providers with the best Swiss franc (CHF) exchange rates.
With our independent comparison results, we help international students studying at ETHZ or EPFL find the best providers to transfer money between their home country and Switzerland. We also help expatriates moving to Switzerland for a job in one of the international organisations in Geneva select a better alternative than their bank to transfer their money in the country, or business owners find the right solution to pay contractors or suppliers in Switzerland.
What information do you need to send money to a bank account in Switzerland
IBAN (ex. CH93 0076 2011 6238 5295 7)
The IBAN (International Bank Account Number) is an international norm for identifying bank accounts.
Name of the recipient
The name of the holder of the receiving bank account..
All banks in Switzerland use the IBAN system to facilitate international transactions, meaning that the only information you need to make an international bank transfer to a bank account in Switzerland is the IBAN number of the recipient’s bank account, as well as the name of the recipient.
All the providers and banks we list on our website can send money to any bank in Switzerland. You shouldn’t need the SWIFT/BIC code or even the name of the bank, as long as you have the IBAN.