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Skip to content Wise offers the probably most attractive conditions for transfers abroad on. While providers such as Revolut only offer their good conditions within a limited framework, with Wise you can change as many and as large sums as you like.
If you are a Account abroad frequently buy in euros or, for example, sometimes buy a Paying for a hotel abroad at low cost then Wise is exciting for you!
The clear app, transparent and low costs and much more speak in favour of Wise Switzerland.
You can find out what our Wise Switzerland experience report looks like in detail in this article.
Wise (formerly Transferwise) is a payment provider for transfers to other countries and currencies. As an international and growing provider, you can offer conditions that local banks couldn't survive with. No matter if you want to transfer, say, a euro Account cover, pay for your holiday hotel or order furniture abroad, this is where Wise comes in.
A comparison with your bank will quickly show you how much money you can save if you use Wise. In this article, we explain whether we can really recommend the service, what the costs are and what possible alternatives are.
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Wise stands for low costs. If one day they could no longer maintain this, their successful business model would collapse. And because their costs are so low and transparent, they already have over 6 million customers.
In the picture on the left you can see the Wise Switzerland cost overview. Basically everything is free of charge, except for a flat fee of 0,63€ per transfer. This fee is charged in Euro, as the company is based in England. In addition to this flat fee, there is a minimum exchange fee, which is located in the rear decimal point area.
As an example of a transfer of CHF 1,000 to my euro account, I have therefore made a screenshot from the app for you - see the picture below on the left. The executed exchange rate was even better than the rate displayed on Google!
One feature that I always enjoy is the cost comparison. On the website, alternative providers (such as ZKB, Postfinance, UBS, ...) are listed for your transfer. The next cheapest provider on this day would have been ZKB, where I would have had to pay CHF 8.60 more, i.e. over 100% more.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
Since recently, there is now also a Wise credit card, a product which we have long desired. Because it is now possible for us Swiss to pay several currencies at extremely favorable exchange rates on one card. You can get the card itself via the link here on the website. Create a free Wise account there and then order your credit card.
You've probably already read it in the text above: We can absolutely recommend Wise Swiss! Transparency, faster transfers than with conventional banks, an app with many useful features and, above all, very favorable exchange rates and fees.
Yes, a Twint top-up would be convenient, but since the Wise credit card, a few other cards have fallen out of our wallets. Comparing Revolut vs. Wise, as of Q1 2020, everything is in favor of Wise.
Conclusion
We have already saved many francs with Wise and have not found any real flaw so far. Speed, transparency and good communication stand out in our Wise and Transferwise Switzerland experiences. Thanks to the status update, you always know where your money is at Wise.
How about you, let us know in the comments!
If you want to bet on a well-known card, travel a lot and have references in other currencies, we can Neon to the heart. Why Neon?
NEON Switzerland has been copying since July 2020 with Wise!
This means that Wise has been integrated into Neon. This means you can use your Swiss Neon account and make extremely cheap international transfers! If you are looking for a Wise partner card, you will also find it at Neon, as a second card is available here.
Zak Bank Cler: This is a fully-fledged smartphone bank and offers attractive conditions within Switzerland. Transfers in foreign currencies are more expensive than with Wise, but it's still worth taking a look at Zak. According to our Wise test, Zak can be a useful addition for the Swiss.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
29 Responses
I recently opened a wise business account by mistake and had to pay €50, which was then booked for "bank details".
But I haven't booked anything yet, my personal account hasn't been loaded and I've made a mistake. Does anyone know anything about the Wise app and can help?
merci very much
what is the contact help number of Wise in Switzerland or Egland?
Recently, Postfinance no longer accepts the reference P1...... or something similar. What if this is omitted (only optional with Postfinance)?
Sorry, I have another question about NEON!
Can I top up Neon with my credit card? Can I use the Miles and More credit card to top up the Neon account with money and then make payments at Neon?
Thank you already for the answer 😀
Kind regards
Jacqueline
Hi Jacqueline
as I no longer use my Miles More, I'm afraid I can't say. Would you like to test it for the community and then share it here?
It would be mega if it could be done!
Best regards 🙂
Eric
Such a great report! Thank you!!
I have one question! When I top up Wise with my Miles and More card, do I get the miles credited?
We don't get any more miles credited to Revolut! Unfortunately!
Thanks for the answer! 😀
Have a nice day!
Kind regards
Jacqueline
The whole thing is quite risky after all. I didn't see a company address on the entire Wise website. If something should go wrong, the customer is probably left out in the cold. But the low fees are tempting.
Wise (formerly Transferwise) is a big company - Google will show you more. By the way, I found the address directly on the website:
Wise SA at Avenue Louise 54, Room s52, 1050 Brussels, Belgium
Best regards 🙂
I was charged more than 27.00 chf (supposedly to Dubai) and I don't know how this happened. For 2 weeks I have been sending various mails and chats with Wise. But I don't get an answer. I find that very worrying!
Hello Dan
In that case, do you deposit money steadily with Wise? To be on the safe side, I would deduct it again until you know exactly where the debit came from.
Maybe it was a company based in Dubai where you shopped but you didn't know they were based there....
Can wise be connected to a postfinance account?
sure! you can use via bank transfer. so from every swiss bank
Hi, I am facing some difficulties in receiving money from abroad. May I have your email address, so that I can contact you directly? Your email address is missing in your website, although Wise informs that we should write an email for the chat is out of order, thank you!
Hi Angela, please contact the Wise team direclty via the app
I can no longer log in.it always says e-mail or password wrong.but not.can you delete everything so that I can register again?
Waiting for answer
Thanks Greetings Beat
Hello Beat,
Please report this directly to Wise. The support will take care of you or you can use the forgotten password function.
Schwiizerfranke is "only" a finance blog 🙂 and is independent of Wise.
Thanks for the good post. If I transfer CHF, will it be changed to € or will my CHF arrive 1:1 on my Wise app?
Hello Theo
you can always specify which currency should arrive. If CHF should arrive, the recipient will receive CHF (provided he has a CHF account).
When you try it, it says: "CHF to CHF transfers are not supported at this time." I don't know if it works from a Wise account.
Hello, Eric,
great post, thanks for the good tips.
What about taxes? Do the Wise accounts (different currencies) have to be declared as assets?
Hello Yannick, thank you for your positive feedback 🙂
yes, you have to declare all assets in the tax return. if you now hold different currencies at Wise X and the individual amounts are very small, you can also just declare the total if necessary. (Since I am not a tax advisor, I do not know if this is 100%ig okay)
great, thanks for the quick feedback.
Yes, Wise serves as a pass-through account for me, except for the vacations. Then there is more on the account during the vacation period.
Greetings Yannick
Hello
Is it possible for strangers to transfer money to my Wise account? Also, I have heard that AHV is not paid to Wise. Is this true?
Thanks for info
Hello Pius
Wise recently added the ability to assign deposits via email. So if someone has your email, they can send you money. If you just give them your IBAN from Wise, they can also deposit money normally. I am not sure about AHV. If that would be the case, you can just do the transfer yourself. e.g. via a Neon or Zak account.
Hi Eric, just wanted to make a SEPA transfer from my Wise account to Bitpanda ... but unfortunately does not work!
do you know what's behind this ban? Thank you.
Hi Rudolf, unfortunately some banking institutions or payment processors behind them are still very conservative in their dealings with cryptocurrencies. (Partly understandable, of course, since their business model is threatened. On the other hand, it shows how much banks partly restrict us by wanting to ban us from transferring money). However, there are also more and more banks/payment processors that see opportunities here and are open. Have you already heard it from your Neon Account off tried?
Hi Eric, thanks for the tip, it actually works!!! For me, however, this means the end of the Wise account, because what does Wise offer that Neon could not already?
They seem to be incredibly quick at learning, as almost all of the points of a fairly negative review in 2019 have now been cleared up.
Absolutely, neon has developed great 🙂 Wise is available in neon - but with a minimal convenience fee. So those who transfer very often and very high amounts with abroad can still save something with Wise directly. For most is probably easier to work directly in Neon
Thanks for the contribution, because the timing was mega 🙂 was about to order me a Revolut card, but the Transferwise credit card offers me much better conditions!