Wise Switzerland Review (2024)
| Account opening | 9 |
|---|---|
| Usability | 8 |
| Features | 6 |
| Credit Card | 8 |
| Fees | 9 |
| Speed | 7 |
| Customer Service | 7 |
Wise Switzerland is a neobank that allows Swiss residents to open a free multi-currency account and benefit from the services offered by the bank using a mobile application.
Wise also offers a free Debit MasterCard attached to the multi-currency account.
Wise Switzerland Overall Rating: 7.7/10
Description
In October 2024, Wise Switzerland continues to stand out as a leading solution for multi-currency accounts, ideal for those needing to manage money in various currencies. Our review of Wise Switzerland highlights the benefits of its Borderless account, which allows you to hold over 50 currencies, make free SEPA payments, and access a MasterCard debit card. By using the real interbank exchange rate and transparent fees, Wise becomes a competitive option compared to Alpian or Yuh. Account opening is simple and free, with no hidden fees if the balance is zero.
Review of Wise Switzerland – The Borderless Multi-Currency Account
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Wise Switzerland Fees
It’s free to create a Wise account and there is no maintenance fee or minimum balance.
Wise Switzerland provides you with bank accounts under your name in several countries. So you can receive money locally, without any surcharge.
You can add money to your Wise account in 19 currencies: AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HRK, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, TRY and USD
You can also keep 50 currencies on your multi-currency Borderless account, and convert them at any time.
Wise Switzerland use interbank currency rate and apply their fees in full transparency.
| Wise Account | Prices |
|---|---|
| Create an account | Free |
| Get a UK account with account number and sort code | Free |
| Obtain a U.S. account with Account and Routing number | Free |
| Get a European IBAN | Free |
| Obtain an Australian account with Account and BSB number | Free |
| Get a bank account in New Zealand | Free |
| Get a bank account in Hungary | Free |
| Get a bank account in Romania | Free |
| Get a bank account in Singapore | Free |
| Hold 50+ currencies | Free |
| Send money | from 0.43% |
| Receive money AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, USD (non-wire) | Free |
| Receive USD with ACH or bank debit | Free |
| Receive a transfer in USD | $4.14 |
| Direct Debit in EUR | Free |
| Direct Debit in GBP | Free |
| Direct Debit in AUD | Free |
Wise Switzerland Review – Mastercard Borderless Debit Card
Unlike CurrencyFair or b-sharpe, Wise Switzerland offers a Debit MasterCard attached to your multi-currency account.
This Debit Mastercard is free and you can use to spend any currency available on your Wise account: USD, EUR, GBP or other currencies, the card will automatically select the currency depending on the country where you are making a purchase.
Wise Switzerland Mastercard
| Wise Debit Card | Fees |
|---|---|
| Order a Wise card | CHF 8 |
| Card replacement | CHF 4 |
| Spend the currencies in your account | Free |
| 2 free Bancomat withdrawals, up to CHF 200/month | ✅ |
| ATM fees over CHF 200/month | 1.75% + 0.50 / withdrawal |
| Beyond 2 withdrawals per month | 1.75% + 0.50 / withdrawal |
Why use Wise Switzerland rather than Zak or Neon?
Wise Switzerland use the real-time interbank exchange rate: the one displayed in Google when your search “EUR CHF exchange rate” for example. Wise add a small fee that is displayed in full transparency on their website:
Wise EUR to CHF exchange rate
Zak and Neon use an exchange rate that is only updated once a day and on average slightly higher than the actual exchange rate (in order to cover exchange rate differences between 2 days):
- Zak use an exchange rate set by Viseca (non available on the web)
- Neon use the Mastercard exchange rate
Wise Switzerland is usually cheaper than Neon and Zak. You can also compare Wise fees with other banks (UBS, BCV, PostFinance,…) on the Monito website.
YUH Promo Code: YUHNEO
Don't have a YUH account yet? Use our referral code to open your free YUH Bank account!
Use the promo code YUHNEO by October 31, 2024 to receive 50 CHF in Trading Credits + 4 CHF (250 SWQ) for FREE 🙌
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Frequently Asked Questions (FAQ) about Wise Switzerland
✅ What is Wise?
Wise, formerly known as TransferWise, is an international money transfer service that provides a platform for sending and receiving money across borders with low fees and real exchange rates. It operates online and via its mobile app.
✅ Does Wise offer services in Switzerland?
Yes, Wise offers its money transfer services in Switzerland. Swiss residents can use Wise to send money abroad and receive funds from international sources.
✅ What fees does Wise charge for transfers in Switzerland?
Wise charges a fee based on the amount of money being transferred and the currencies involved. Fees are typically lower compared to traditional banks and are transparent, displayed before confirming the transfer. For exact fees, it’s best to check the Wise website or app for a quote.
✅ What currencies can I send with Wise from Switzerland?
Wise supports a wide range of currencies for international transfers. You can send money from Swiss Francs (CHF) to various currencies, including USD, EUR, GBP, and many others. Check the Wise website or app for a full list of supported currencies.
✅ Can I open a Wise account in Switzerland?
Yes, you can open a Wise account in Switzerland. The process is digital and involves providing personal information and verifying your identity. You can manage your Wise account and perform transactions through the Wise website or mobile app.
✅ What is the Wise SWIFT code for Switzerland?
Wise uses different SWIFT codes depending on the specific service or transfer. Generally, Wise provides the SWIFT code relevant to the recipient’s bank or service used for the transaction.
✅ How long does a transfer take with Wise?
The transfer time with Wise depends on the currencies involved and the payment method. Generally, transfers can be completed within a few hours to a few business days. Wise provides an estimated delivery time for each transfer during the process.
✅ Can I receive money with Wise in Switzerland?
Yes, you can receive money with Wise in Switzerland. If you have a Wise account, you can provide your account details to the sender to receive funds. Wise supports receiving money in multiple currencies.
✅ Does Wise offer a multi-currency account for Swiss residents?
Yes, Wise offers a multi-currency account that allows Swiss residents to hold, send, and receive money in multiple currencies. This can be useful for managing international transactions and avoiding conversion fees.
✅ Is Wise regulated in Switzerland?
Wise is regulated in multiple jurisdictions around the world. In Switzerland, Wise operates under Swiss financial regulations and is compliant with local laws for money transfers and financial services.
✅ How can I contact Wise customer support in Switzerland?
You can contact Wise customer support through their website or mobile app. They offer support via email, chat, and phone. For specific inquiries or issues, visit the Wise support page for assistance.
YUH Promo Code: YUHNEO
Don't have a YUH account yet? Use our referral code to open your free YUH Bank account!
Use the promo code YUHNEO by October 31, 2024 to receive 50 CHF in Trading Credits + 4 CHF (250 SWQ) for FREE 🙌
Get 54 CHF Free with YUH ➡️
Additional information
Specification: Wise Switzerland Review (2024)
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