Sending money abroad: transfers, fees and exchange rates

Last checked: 11 October 2026. Unofficial student guide, not EPFL or government advice: confirm on the linked official pages before you act. Unfamiliar abbreviation? See the Glossary.

How to send money from a Swiss account to another country, what you actually pay (fees plus the exchange-rate margin), and how to check that a provider is allowed to operate in Switzerland. Opening an account is on Bank account and Bank practical checklist.

Key facts

• What you need: the recipient's IBAN and, for most international transfers, the BIC (also called the SWIFT code), which has 8 or 11 characters (Central Compensation Office, ZAS).
• Euro payments: banks in Switzerland have been able to take part in SEPA (espace unique de paiement en euros) since the start of 2006 (Swiss National Bank).
• Two costs: a transfer fee and, when currency is converted, the rate your provider applies. To verify: banks do not publish one standard margin; compare your bank's rate with a reference rate before you send.
• Reference rates: the Swiss National Bank publishes current interest and exchange rates (SNB).
• Check the provider: search FINMA's register of authorised institutions and its warning list. Money-transfer businesses are often supervised for anti-money-laundering through a self-regulatory organisation (SRO) rather than holding a FINMA licence (FINMA).

1. Bank transfer basics

• IBAN identifies the account; its format and length depend on the country (ZAS).
• BIC/SWIFT identifies the bank and is needed for international transfers. If you do not know it, ask your bank branch (ZAS).
• Some countries use national account and clearing codes instead of IBAN; you then give the account number and the bank code (ZAS).
• Double-check the recipient's name, IBAN and BIC before you confirm. A transfer you send to the wrong account is hard to recover.

2. Euro transfers and SEPA

• SEPA is a common set of rules for euro payments across Europe, meant to remove differences between national and cross-border euro payments. Swiss banks have been able to join since 2006 (SNB).
• SEPA works only if both banks take part. To verify with your own bank: whether it offers SEPA transfers from your account type, and the fee.
• SEPA covers euro payments only. Sending CHF to a euro account means a currency conversion first, so the exchange-rate margin still applies.

3. Fees and the exchange-rate margin

• The fee is the visible charge per transfer. Your bank's price list shows it. Amounts differ by bank and account: To verify on your bank's price list.
• The margin is the difference between the rate you get and a reference rate. It is often bigger than the fee and is not shown as a separate line.
• Compare before sending: ask your bank, or check in the app, how much the recipient will receive in their currency. Compare that with the SNB reference rate on the same day.
• Who pays foreign bank charges: for non-SEPA transfers, intermediary banks may deduct charges, so the recipient can receive less than you sent. To verify: the charge options your bank offers.
• Complaints about bank fees: the Price Supervisor (Surveillance des prix) answers dozens of complaints about bank fees each year and monitors the market. Its 2026 newsletter singles out account-closing fees as a barrier to switching banks (Price Supervisor).

4. Is this provider allowed to operate?

1. Search FINMA's register. FINMA lets you search by name to check whether a person, company or product is authorised (FINMA).
2. Check SRO membership. Under the Anti-Money Laundering Act, many financial intermediaries must join a self-regulatory organisation instead of holding a FINMA licence. FINMA publishes the list of recognised SROs and an SRO member search (FINMA).
3. Check the warning list. FINMA lists companies and individuals that may be offering services without authorisation. Not being on the list does not prove a provider is authorised (FINMA).
4. Unsure? FINMA also points to the warning lists of the Zurich cantonal police (cybercrimepolice.ch) and IOSCO (FINMA).

FINMA notes that its lists are updated regularly but can lag: a newly authorised firm may be missing, or a firm may still appear after losing its licence (FINMA).

5. Scams to watch for

• Messages that ask you to "re-confirm" your bank details or pay a fee to release a transfer are a classic trick. See Phishing, SMS and parcel scams.
• Never send money to someone you only know online who asks for an urgent transfer.
• If you have been scammed, contact your bank immediately and report it to the police: Police report or complaint in Vaud.

Checklist

• Get the recipient's full name, IBAN and BIC (or national bank code).
• For euros, ask your bank whether the transfer goes through SEPA.
• Check the amount the recipient will receive, not only the fee.
• Compare the rate with the SNB reference rate.
• Look up any non-bank provider on FINMA's register, SRO search and warning list.