How to Send Money to Switzerland in 2024

Unlock the secrets to sending money to Switzerland hassle-free! Learn top methods, compare fees, and ensure ethical practices for seamless transfers.

February 15, 2024

How to Send Money to Switzerland
Shashank Kothari
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Sending money to Switzerland can be complex, especially if you're unfamiliar with the country's payment system. However, with the correct information and tools, you can easily send money to Switzerland without hassle. In this article, we will explore the various payment methods available for sending money to Switzerland, including bank transfers, digital wallets, and payment systems. 

Available Money Transfer Methods to Switzerland

Below are some of the best methods to send money to Switzerland:

1. International Wire Transfers

Definition of international wire transfer.‍
What is an international wire transfer? Source: The Balance Money

Sending money to Switzerland via international wire transfers is very straightforward. You just hand over all the recipient's info to your bank - their account number and bank details. Banks can hit you with fees ranging from 1-3% of the amount you are sending, or they might slap on a flat fee of $20 to $50. And don't forget about the exchange rate fee because you're dealing with different currencies here.


  • Quick. Wire transfers can be lightning fast, instantly getting your money to Switzerland.
  • Direct. It's a direct route from your bank account to the recipient's, no fuss.
  • Widely accepted. Almost all the banks in Switzerland usually accept wire transfers, so you're covered there.
  • Reliable. Wire transfers are generally considered a safe and reliable way to send money internationally.
  • Suitable for large amounts. If you're sending a hefty sum, wire transfers can handle it without a sweat.


  • Costly. Fees and exchange rate charges can affect your funds, making wire transfers costly.
  • Possible delays. Sometimes, delays can happen due to bank processing times or other factors. This is mainly for individual transfers, as business transfers generally happen in one day.
  • Exchange rate risk. Fluctuations in exchange rates can affect how much your recipient gets in the end, adding an element of uncertainty.

For Whom

This is best suited for businesses and people looking to securely transfer large sums of money to Switzerland and directly to bank accounts. It offers a reliable method for conducting business transactions, paying suppliers, or sending funds to family and friends over there.

2. Online Money Transfer Services

Sending money to Switzerland through online money transfer services is very easy. You just hop onto platforms like Paypal or Xe, sign up, and provide your details and your recipient's info. These services usually give you reasonable exchange rates and keep the fees low, way lower than what banks charge.


  • Speedy. Online transfers can be lightning-fast, getting your money to Switzerland in a snap.
  • Competitive rates. You will often get better exchange rates compared to traditional banks.
  • Lower fees. Say goodbye to hefty fees - online transfer services usually keep costs low.
  • User-Friendly. These platforms are designed to be super easy to use, even if you're not a tech person.
  • Transparency. You'll know exactly what you're paying for, with clear fee structures and tracking options for peace of mind.


  • Account required. You must sign up for an account, which might be a hassle for some people.
  • Transfer limits. Some services impose limits on how much you can transfer at once.
  • Security concerns. While rare, there's always a slight risk of cybersecurity issues, so stay vigilant.

For Whom

These services cater to a wide range of users, including individuals, businesses, and freelancers. It provides convenience, competitive exchange rates, and lower fees than traditional banks. You can use these services to send money to family and friends in Switzerland, while businesses can streamline their international payments. Freelancers benefit from fast and cost-effective transfers, allowing them to receive payments from clients worldwide without the hassle of traditional banking processes.

Some Online Money Transfer Services To Send Money to Switzerland

Below are some of the online services to send money to Switzerland:

1. PayPal
PayPal homepage
PayPal homepage. Source: PayPal

PayPal is a widely used digital payment platform that allows you to send money to Switzerland in a few simple steps. According to Statista, the app was downloaded more than 300,000 times in Switzerland in 2022 alone. To initiate a payment, you just have to click "Send & Request," enter the recipient's details, choose the currency, and specify the amount. PayPal will display the conversion rate, and you can select the purpose of the payment. 

When sending money to Switzerland, PayPal's conversion rate will be applied, and you can review the payment details before sending. The payment charges through PayPal include a currency conversion fee and a fixed fee, around 3-5% of the total amount you're sending. The duration for the recipient to receive the money varies, but it is typically within a few minutes to about three business days, depending on the payment method and the recipient's account

2. MoneyGram
MoneyGram homepage.‍
MoneyGram homepage. Source: MoneyGram

MoneyGram is a premier online money transfer service, offering a seamless avenue to send funds to Switzerland from any corner of the globe. Through its intuitive website and mobile app, MoneyGram ensures swift and secure transactions, facilitating cash wire transfers directly to Swiss bank accounts or mobile wallets. 

Charges vary upon the prevailing exchange rate, resulting in variable amounts your recipient receives. For instance, a $2,000 transfer might yield ₣1,752 at an exchange rate of $1 = ₣0.87595. Notably, MoneyGram boasts rapid and convenient global transfers to Switzerland, giving you diverse options for receiving funds and leveraging a vast network spanning 200 countries. 

With competitive exchange rates and low fees, MoneyGram minimizes deductions for your transactions. Transfer times vary based on the selected method and recipient's location, typically from 0 to 6 business days. You can consult MoneyGram's official website or directly engage their customer support services for comprehensive details on costs, transfer limits, and durations.

3. Revolut
Revolut homepage.‍
Revolut homepage. Source: Revolut

Revolut is a comprehensive financial app offering swift, secure, cost-effective international money transfers. With support for over 30 currencies, including USD, GBP, and EUR, Revolut outperforms major banks with its competitive rates. Sending money to Switzerland is very easy - simply input the recipient's details or select from your contacts, specify the amount, and tap to send. 

Revolut prides itself on transparent fees and competitive exchange rates, making it a wallet-friendly choice for international transfers. The app also boasts features such as robust APY, no minimum balance requirements, ATM access, multi-currency savings, and investment options, catering to both personal and business needs. 

The amount you can send varies depending on your location. For example, businesses in the UK can send from £1 or £1,000,000,000 to Switzerland. Revolut guarantees upfront rates and fee transparency. Available on Android and iOS, Revolut's user-friendly app ensures a seamless interface for hassle-free international money transfers.

4. CurrencyFair
CurrencyFair homepage.
CurrencyFair homepage. Source: CurrencyFair

CurrencyFair is a reputable online money transfer service that offers a reliable way to send money to Switzerland. To initiate a transfer through CurrencyFair, you can easily set up an account on their website or user-friendly mobile app. Once your account is set up, you can proceed to enter the recipient's details, specify the amount to be sent, and select the desired currency. 

CurrencyFair charges a transfer fee of $4.60, and the transfer time typically ranges from one to three days. The platform provides competitive exchange rates with low fees, ensuring minimal deductions for your transactions. For precise details on costs, transfer limits, and times, you can visit CurrencyFair's official website or contact their customer support directly.

5. XE Money Transfer
 XE Money Transfer homepage.‍
XE Money Transfer homepage. Source: XE Money Transfer

XE is a trusted online currency exchange and money transfer service that offers a reliable and efficient way to send funds to Switzerland. With XE, you can securely transfer money internationally with ease. To initiate a transfer, you must create an account on their platform and provide the necessary sender and recipient details. XE offers competitive exchange rates and transparent fees, ensuring you get the most value from your transfer. 

The charges for sending money to Switzerland through XE typically include a small fee based on the amount transferred, which is from $1 to a maximum of $535,000, and any applicable exchange rate fees. Transfer times with XE can vary depending on the payment method and recipient's location, but transactions are generally completed within 3 business days. With XE, you can trust that your money will be sent safely and efficiently to Switzerland.

3. Cryptocurrency Transfers

Cryptocurrency transfers involve sending digital currencies, such as Bitcoin or Ethereum, to recipients in Switzerland. According to Regulated United Europe, it is legal and regulated by SFTA. However, you must ensure your exchange has the Swiss Financial Market Supervisory Authority license.

You must have a cryptocurrency wallet and the recipient's address to transfer money through crypto. The cost of sending cryptocurrency can vary based on the specific digital currency and platform. It is typically way lower than what you'd pay for a traditional bank transfer, usually just a few cents to about $5. 

The duration of a cryptocurrency transfer is typically faster than traditional bank transfers, often taking minutes to a few hours. However, it's important to note that cryptocurrency values can be highly volatile, which can impact the final amount received by the recipient.

Top Cryptocurrency Platforms to Easily Send Money to Switzerland

  1. Coinbase. Coinbase is a popular platform that allows you to buy, sell, and transfer various cryptocurrencies. It offers a user-friendly interface and a secure way to send digital currencies to Switzerland.
  2. Binance. Binance is another well-known cryptocurrency exchange that supports the transfer of a wide range of digital assets. It provides competitive fees and a robust trading platform for sending money to Switzerland.
  3. Kraken. Kraken is a reputable cryptocurrency exchange that enables users to send various digital currencies to Switzerland. It offers advanced security features and a straightforward process for initiating transfers.


  • Fast transfer times, usually within minutes to a few hours.
  • Potential for lower transaction fees compared to traditional money transfer methods.
  • Access to a wide range of digital currencies for sending money to Switzerland.
  • Secure and decentralized nature of blockchain technology.
  • Possibility of taking advantage of potential cryptocurrency value appreciation.


  • Cryptocurrency values can be highly volatile, leading to potential fluctuations in the amount received by the recipient.
  • Not all businesses and people in Switzerland accept cryptocurrency as a form of payment.
  • Learning curve for those new to cryptocurrency and digital wallets.

For Whom

Cryptocurrency transfers are particularly beneficial for freelancers seeking fast, low-cost payment methods. They offer a decentralized and borderless way to send and receive funds, bypassing traditional banking systems and associated fees. You can send money to freelancers in Switzerland, who will receive payments quickly and securely. This helps enhance flexibility and efficiency in their work.

Peculiarities Related to Money Transfers to Switzerland

When sending money to Switzerland, there are certain peculiarities to keep in mind. One of the most important is the COVID-19 pandemic-led restrictions.

 The effect of the COVID-19 pandemic on remittances to Switzerland compared to the annual average
Effect the COVID-19 pandemic had on remittances to Switzerland. Source: Federal Department of Foreign Affairs FDFA

The COVID-19 pandemic led to restrictions and the closure of foreign exchange and cash-receiving agencies. Some of which have not been opened till now. These restrictions made it complicated for people to receive money in the country. Switzerland sees this crisis as an opportunity to shift away from expensive cash-based systems and create new systems that do not rely on banks, which can add complexity to the money transfer process. 

Also, the average cost of sending money to Switzerland has been decreasing but still amounts to approximately 8%, according to the G20 National Remittance Plan. When sending money to Switzerland, you must also consider exchange rate fluctuations, additional fees, and the impact of different payment methods on the overall transaction. 

Another one is the regulatory requirements governing the process of sending money to and receiving money in Switzerland from abroad. All businesses that offer bank-like services in the country, including money transfer operators, must have a license to operate from the Swiss Federal Banking Commission and are subject to state regulation. The Swiss Financial Market Supervisory Authority (FINMA) regulates money transfers to and from Switzerland to protect funds and prevent money laundering. 

It's also important to note that the cost and duration of sending money to Switzerland can vary depending on the specific method used. For example, traditional bank transfers are highly popular but can come with higher fees and longer processing times. On the other hand, digital wallets like Coinbase are gaining popularity due to their simplicity and convenience. 

When you understand these peculiarities and select the most suitable transfer method, you can send money to Switzerland with ease and confidence.

Tips for Sending Money to Switzerland

Consider the following before sending money to Switzerland:

Research Exchange Rates

Before making any transfers, take a quick peek at the current exchange rates. It's wise to shop around and find the best rate to maximize the value of your money when converting to Swiss Francs.

Compare Transfer Fees

Different transfer services and banks charge varying fees for sending money to Switzerland. Compare the fees and choose a provider that offers competitive rates without compromising service quality.

Consider Transfer Speed

If you need to send money urgently, check the transfer speed offered by different providers. Some services offer faster transfers for a slightly higher fee, while others take a few days to complete the transaction.

Check Transfer Limits

Be aware of any transfer limits imposed by your chosen provider. Ensure that the transfer amount aligns with your needs and that you won't encounter any unexpected restrictions.

Verify Recipient Details

Double-check the recipient's bank account details, including the account number and SWIFT/BIC code. Ensuring accuracy in the recipient information helps prevent delays or misdirected transfers.

Consider Currency Conversion Options

If you're sending money from a currency other than the Swiss Francs, explore your options for currency conversion. Some providers offer competitive exchange rates and may allow you to lock in a favorable rate for future transfers.

Stay Updated on Regulations

Keep yourself informed about any regulatory requirements or restrictions related to international money transfers to Switzerland. This includes FINMA and licensing and state regulation, etc. Compliance with regulations ensures smooth and hassle-free transactions.

First Explore Online Transfer Services

Consider using online money transfer services for their convenience and cost-effectiveness. These platforms often offer competitive exchange rates, lower fees, and faster transfer times than traditional banks.

Opt for Secure Transfer Methods

This is especially for the crypto transfer method, prioritize security when choosing a crypto transfer platform or provider. Look for providers that employ encryption and other security measures to safeguard your financial information and transactions.

Read Reviews and Testimonials

Before selecting a transfer provider, take some time to read reviews and testimonials from other customers and social media platforms like Facebook groups and local online communities like Reddit. Insights from actual users will help you gauge the reliability and quality of service different providers offer since everything changes very quickly.

Consider Using Cryptocurrency

For tech-savvy individuals, cryptocurrency transfer is a viable option for sending money to Switzerland. Cryptocurrency transactions offer decentralization, low fees, and fast processing times, making it an attractive alternative to traditional methods.

Keep Records of Transactions

Maintain records of your money transfer transactions, including confirmation emails, receipts, and transaction IDs. These documents serve as proof of payment and can be useful for tracking purposes or resolving any issues that may arise.

Pay Attention to the Recipient’s Legal Status

Your recipient’s legal status affects the available money transfer options. Plus, there are different options for businesses and individuals, as stated earlier.


We've covered the top methods of sending money to Switzerland like wire transfers, online services, and cryptocurrency. Remember to compare rates, check fees, and verify recipient details. Stay on top of legal stuff and consider the needs of both businesses and individuals. And hey, keep it ethical - choose providers with transparent practices and prioritize security. Take your time, do your research, and pick the method that suits you best while keeping it ethical all the way.

Shashank Kothari
F4P Contributor

My goal is to empower readers with insightful blogs that explore future trends, provide practical guidance, and spark curiosity. Together, let's navigate the path to personal and professional growth in an ever-changing world.

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