Exchange your Swiss francs without losing money
Your salary is paid in Swiss francs, but your expenses are in euros. Every month, the way you exchange your money can make you gain or lose money without you noticing.
In short
- The cost of an exchange is the rate offered plus the fees.
- Always compare with the day's rate shown online.
- Do the calculation once, then stick with the cheapest option.
Where does the loss come from?
Every day there is a reference exchange rate, the one you see when you type "CHF EUR" into a search engine. Exchange services offer you a slightly worse rate: the difference is their margin. Some also add fixed fees per transaction.
So a "no fees" option can cost more than one with fees, if its rate is worse.
The three main options
| Option | Who it suits | What to check |
|---|---|---|
| Your bank | People who want the simplest option | Often the most expensive option: ask for the rate and the fees per transfer |
| Online exchange service | People who exchange every month | The rate offered, the fees, how long the money takes to arrive |
| Bureau de change | Small amounts of cash | The rate shown in the window, rarely good value for a salary |
Compare in 3 steps
- Choose a test amount, for example your monthly salary.
- For each option, write down how many euros you actually receive, fees included.
- Keep the one that gives you the most euros. Repeat the test once a year.
Tip: the calculator on the home page lets you enter the rate you are offered to see your net salary in euros.
Frequently asked questions
How do you know whether an exchange rate is good?
Compare it with the day's reference rate, then look at how many euros you actually receive, fees included. That final amount is what counts.
Is a "no fees" option always the cheapest?
No. If its exchange rate is worse, it can cost more than an option with fixed fees.
Useful links
- Euro / Swiss franc reference rate published every day by the European Central Bank