Compare the best ways to send money to Switzerland

The exchange rate determines how much CHF the recipient will receive.

For instance, in the past 7 days average exchange rate between the US Dollar and the Swiss Franc was 0.7993 CHF.

Since USD - CHF exchange rates fluctuate based on market conditions, waiting a few days can result in a better rate and more CHF for your recipient.

If you urgently need the money in Switzerland, we recommend using Wise, which offers the best CHF exchange rates.

The cheapest way to fund your transfer to Switzerland is by using a bank transfer with Key Currency, which is 0.01% cheaper than the next best option.

How you pay for your transfer impacts the cost, speed, and the amount of CHF received.

Based on a $7,000 transfer to Switzerland using our live data, the options you have are:

• A bank transfer with Key Currency will cost you $0 in fees and a 0.25% markup

• Debit card transfer with Xe costs $0 with 1.41% markup

We recommend not using debit card when sending money to Switzerland, as they tend to be the most expensive.

Credit card transfers tend to add cash advance fees and might have higher interest rates on CHF.

Whenever possible, avoid sending CHF over the SWIFT network. Despite the name, CHF transfers over SWIFT are slower and come with higher fees.

Money transfer companies will often have minimum and maximum limits on how much CHF you can send.

Often, the amount will also impact the fees and the CHF rate you get.

For example, we found Wise to be the best option for sending large amounts to Switzerland.

There might also be government-imposed restrictions, commercial restrictions, and many more.

This is why it’s important to compare your transfer options to Switzerland.

The speed of transferring CHF to Switzerland depends on several factors, including the amount being sent, the timing of the transfer, and the chosen payment method.

Usually, the quicker you need your CHF, the more it will cost you in fees.

For example, consider a transfer of $7,000 from the US to Switzerland:

• Fastest provider: Among 15 companies servicing Switzerland, Wise consistently offers the quickest delivery times across all deposit methods.

• Bank or debit card deposits: Services like Wise for bank account deposits and Xe for card deposits provide almost instant and cost-effective CHF transfers. Fees are approximately $27.42 for bank deposits and $0 for debit card deposits, with a minimal 1.41% markup.

• Credit card deposits are another option, but be mindful of potential cash advance fees.

• Urgent transfers: For the fastest possible transfers, we recommend opting for cash pickup services through providers like Western Union or Ria Money.

Avoid making CHF transfers over SWIFT

SWIFT is slower for CHF transfers due to the involvement of intermediary banks in Switzerland, so it’s best to avoid it if speed is your priority.

For CHF transfers, you have the following options:

Money transfer companies

You can send Swiss Francs via an FX broker (a managed service) or via an online-only company (self-managed).

According to our analysis, we found that Wise is the overall best way to transfer money to Switzerland.

App

Most money transfer services to Switzerland offer mobile apps, which often provide better CHF exchange rates.

You can check our guide on the best money transfer apps to find one that fits your needs.

In-person

Cash transfers to Switzerland can be made in person through services like Ria Money Transfers or Western Union.

Cash transfers are almost always instant but require the recipient to physically visit the nearest agent to collect CHF.

Bank transfers

We advise you not to use your bank to wire money to CH because of the fees but rather use it to fund your CHF transfer.

There are several ways to receive money in Switzerland, including direct bank deposits, cash pickups, home deliveries, and mobile wallets.

Here are your options:

• Direct bank deposits: to deposit money into the recipient's account in Switzerland, we recommend using Key Currency.

• Cash pickup: if you need immediate access to cash in Switzerland, consider using cash pickup, but check availability.

• Mobile wallets: you can receive CHF directly into your digital wallet like PayPal, but they come with limitations and higher costs compared to using Key Currency.

In most cases, CHF will arrive without any involvement from the recipient.

However, if you’re sending Swiss Franc as cash, or in large amounts, the receiver might need the following*:

• Valid forms of ID: such as passport, or driver’s license.

• Sender's information: the full name and address.

• Transfer details: the amount of CHF to be received.

• Transfer confirmation number: the sender should give it to the recipient.

• SWIFT code / IBAN: sometimes you may need to include IBAN and/or the SWIFT code.

*The exact documents you need might vary by the company you use.

For larger Swiss Franc transfers, money transfer companies may ask for a source of funds and proof of address. This is done in accordance with AML policies.

If you’re making a large transfer to Switzerland, we recommend using Wise.

There might be tax implications and government-imposed limits when sending Swiss Francs to Switzerland.

Some CHF transfers may be subject to various taxes, including gift tax and commercial tax.

Even if there are no limits or taxation involved, certain CHF transfers need to be reported to the tax authorities in Switzerland.

When in doubt, please contact a tax professional in Switzerland or in your country.