The best way to send money from Switzerland to Russia

The exchange rate determines the price you will pay when buying Russian Ruble in Switzerland. A better exchange rate means more Swiss Francs being sent to Russia.

The current rate between the Swiss Franc and Russian Ruble is 97.5518.

The CHF-RUB exchange rate is always changing. Understanding the average, and then waiting a day or two can help you get more RUB for the same amount of Swiss Francs - but you might end up worse off.

A safer option if you want to get a particular rate is to use a forward contract. This allows you to lock in an agreed exchange rate between Switzerland and Russia.

Sending via a Bank transfer is the payment method that will get you the best price on a transfer from Switzerland to Russia.

Wise is the company offering the best price currently on this.

Using Wise for a Bank transfer to Russia from Switzerland is 0% cheaper than the next-best option in the market.

Switzerland and Russia have different financial regulations to be aware of. Ensuring you fully understand these regulations will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Switzerland and Russia.

Companies offering money transfers between Switzerland and Russia will have minimum or maximum thresholds on how much you can send or receive across set timeframes.

Exchange rates and fees for different transfer amounts could change and sending regularly could mean losing out.

That’s why it’s best to compare CHF-RUB rates for your specific transfer amount.

For regular transfers to Russia to Switzerland, shopping around each time can make a huge difference.

For sending large amounts of CHF to Russia without hitting a threshold, we’d recommended Wise. They offer a combination of rates and fees when sending from Switzerland to Russia that is the most competitive, even at larger amounts.

Be sure to check with the recipient and understand any declarations needed on large amounts of money entering Russia from Switzerland.

Options for receiving Russian Ruble in Russia include direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all of the 1 providers offering transfers from Switzerland to Russia will support every method for incoming Russian Ruble, so it’s best to check ahead of time.

The most common option is to send directly from Switzerland to a bank account in Russia. For most part, this is convenient but does have receiving fees to potentially be aware of.

Wise is the best company for bank transfers between Switzerland and Russia.

Cash pickup is popular in some parts of Russia, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Wise.

When sending Russian Rubles to Russia, through a money transfer company, you will need to verify your ID when signing up.

The documents you need can vary and in some cases you might need a couple of options.

Generally, government issued ID such as a passport or driver's license are accepted in Switzerland. If the recipient needs an ID to collect money in Russia, the same applies there. You may also be able use other ID formats, where these aren’t available.

Large transactions between Switzerland and Russia can be subject to additional checks such as proof of funds for anti-money laundering purposes. This may also require additional ID checks.

One of the reasons Wise as scored so highly for transfers to Russia is their easy sign up process in Switzerland.

As well as proof of funds, when sending large amounts of money between Switzerland and Russia there will be tax declarations to consider. This is also potentially due to regular transactions.

Some transfers into Russian Ruble may need to be reported to tax authorities in Russia and Switzerland, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances do change in Russia based on age, income and a few other elements. Everyone’s tax obligations are unique - when in doubt, please contact a tax professional in Switzerland or Russia.