Switzerland is located in the central region of Europe, but is not a member of the European Union: it is, however, a participant of the SEPA transfer zone. Economists anticipate that the Swiss economy will grow at double its usual rate in coming years: with the 1.7% average GDP growth expected to rise to 3.1% in 2022. The Swiss government values the impact of international remittances, and in 2020 they launched a global appeal to keep cross-border remittances flowing during the COVID-19 crisis.
When considering how to send money Switzerland from Germany there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for Germany to Switzerland. The fastest provider is XE. The cheapest provider we found is Atlantic Money at 0.9% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using XE when sending EUR – CHF.
This means that by using XE for online money transfers to Switzerland from Germany, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access XE for any reason, our comparison engine has found Wise and Atlantic Money also to be very good options when sending EUR to CHF.
If you are looking to make an international transfer, in some cases you might need to know the SWIFT/BIC code of your recipient in Switzerland. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Switzerland.
The cost of transferring money will depend on the value of the transaction and amount of CHF you want the recipient in Switzerland to receive.
In order to avoid high fees, you should consider the cheapest way to send money from Germany to Switzerland.
Atlantic Money has been determined by our comparison engine to be currently offering you the cheapest rates possible.
When sending money from Germany to Switzerland, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, XE is the fastest way to send EUR – CHF.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as Wise to pay for your transfer to Switzerland. Our guide on sending money using a credit card has more information.
With XE you can send money online to Switzerland using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Bank and international wire transfers are the most common ways of sending money Switzerland as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use XE to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to Switzerland from Germany using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. If you do decide to make an international transfer using wire transfer, you might be required to use a SWIFT/BIC code when completing your transaction. If you’re unsure of what it is, check out our guide on what is a SWIFT code as well as use our SWIFT code calculator to find the right SWIFT/BIC code.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as XE, Wise and Atlantic Money.
Before sending money to Switzerland from Germany, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send EUR to CHF. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Switzerland. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Switzerland, then they will usually need the following:
The amount of CHF you can receive from Germany will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of CHF that can be received in Switzerland or sent from Germany before making your transfer.
Keith is a digital specialist with a background in the financial industry, both as a marketeer and a journalist. Keith joined MoneyTransfers.com in order to take the business to the next level and expand our offering in multiple international money transfer markets.