4 of The Best Ways to Send Money from Switzerland to Australia

Sending money from Switzerland to Australia can be full of hidden fees and costs. Here's how to avoid them.

Not all exchange rates are equal. Depending on your situation, some banks or money transfer companies are better than others.

We've looked at your best options for money transfers to an Australian bank account from Switzerland. There is also a handy money transfer comparison table that will help you find the cheapest way to transfer money based on your currency and amount.

So, what is the best way to transfer money to Australia from Switzerland?

The best way to send money to Australia can depend on your goal. Choose from the options below or compare exchange rates to find the best deals.

Compare the Best Money Transfer Rates to Australia from Switzerland

The best deal for you

TransferwiseRead ReviewTotal (CHF)SFr.7,360.59Exchange Rate1.3629Transfer Fees$23.51Transfer Time1-2 DaysLearn MoreTotal (CHF)SFr.7,360.59Rate Updated 05:09PM 18/11/2018GO TO SITE
So, sending AUD 10,000 to Australia at an exchange rate of 1.3629 will cost you SFr.7,360.59 which includes a fee of $23.51

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review

Pros

  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products

Cons

  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

More trusted money transfer options

Provider Exchange Rate Transfer Fees Transfer TimeTotal (CHF) Rate Updated 05:09PM 18/11/2018
HIFXRead ReviewTotal (CHF)SFr.7,381.37SFr.20.78 more expensive Exchange Rate1.3548 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate SFr.7,381.37SFr.20.78 more expensive GO TO SITE
So, sending AUD 10,000 to Australia at an exchange rate of 1.3548 will cost you SFr.7,381.37 with no fees.

About HiFX

HiFX are one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired Xe.com. They are particularly useful for individuals doing regular transfers overseas. HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment. Locally, HiFX have Australian offices in Sydney, Melbourne and are expanding to the remaining capital cities. Click here to read the full review

Pros

  • Fantastic bank - beating exchange rates
  • Low fees for transactions less than $10, 000
  • No fees for transactions of $10, 000 or more
  • High security transfers regulated by ASIC and FMA
  • Fast and easy for personal or business accounts

Cons

  • Only electronic bank transfers accepted
  • Limited exotic currencies
WorldFirstRead ReviewTotal (CHF)SFr.7,381.37SFr.20.78 more expensive Exchange Rate1.3548 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate SFr.7,381.37SFr.20.78 more expensive GO TO SITE
So, sending AUD 10,000 to Australia at an exchange rate of 1.3548 will cost you SFr.7,381.37 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review

Pros

  • Low fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments

Cons

  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available
WorldRemitRead ReviewTotal (CHF)SFr.7,435.07SFr.74.48 more expensive Exchange Rate1.3457 Transfer Fees$3.99 Transfer Time1-2 DaysGet discounted rate SFr.7,435.07SFr.74.48 more expensive GO TO SITE
So, sending AUD 10,000 to Australia at an exchange rate of 1.3457 will cost you SFr.7,435.07 which includes a fee of $3.99

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers. They concentrate on servicing individual needs as opposed to businesses. Click here for the full review

Pros

  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount

Cons

  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead ReviewTotal (CHF)SFr.7,477.75SFr.117.16 more expensive Exchange Rate1.3373 Transfer Fees$0.00 Transfer Time1-3 DaysGet discounted rate SFr.7,477.75SFr.117.16 more expensive GO TO SITE
So, sending AUD 10,000 to Australia at an exchange rate of 1.3373 will cost you SFr.7,477.75 with no fees.

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.

Pros

  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service

Cons

  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers

Find the cheapest way to send money to Australia

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How it works 2m 59s

Sending money to family and friends

It can be hard living away from your family, especially if you're spending extended periods of time away from home. This is especially true when it comes to missing important events with your friends and family. If you're looking to send a small amount of money home, you want to be careful of any fees you're being charged. And if you're sending a large amount, it's even more important to take into account the exchange rate you're offered for the transfer.

This is the main reason why you should search for providers that suit your needs, and compare all your options before making a transfer.

When sending money family and friends, consider using TransferWise.

Why?

TransferWise offers you the wholesale exchange rate that you see on Google. They then charge you a percentage based fee, which can be reduced when you're transferring more than $10,000.

Related Review: Learn more about TransferWise here.

Pros

  • Clear and transparent exchange rates fees.
  • The online experience is first class.
  • Like the banks, they are regulated by ASIC and registered with an AFSL.
  • Their Borderless Account is like a foreign currency account.

Cons

  • There are currently a number of global currencies they do not support.
  • Limited support based in Australia.
  • Percentage based fee can add up on very large transfers.

Transferring a large sum of money

If you're sending a large amount of money to Australia, the most important things to consider are:
1. The safety and security of your money.
2. The exchange rate being offered.
3. Any extra fees.

When transferring a large amount of money, consider using TorFX.

Why?

TorFX specialise in making transfers of higher amounts. A big reason why we like them for making large transfers, is that they provide a personal account manager for every customer. Having someone to talk to is particularly important when sending a large amount of money.

They also offer much better rates for large transfers and don't charge any fees. While their email and phone support is exceptional, their online platform is not the easiest to use. Which can be frustrating if you like doing everything online. Also, keep in mind that they may not be the cheapest option for smaller transfers.

Related Review: Learn more about TorFX here.

Pros

  • No transfer fees.
  • Highly competitive exchange rates.
  • Assigned account manager.
  • Range of transfer options.

Cons

  • Limited exotic currencies available.
  • Exchange rates on small transfers aren't great.
  • Website experience could be better.

Transfer money without a fee

Sometimes it feels like you get charged for everything.  Unfortunately, international money transfers are no different. Australian banks can charge you anywhere from $10 to $30 to transfer money overseas. But it's not all bad news. There are money transfer companies that let you do it without charging a fixed fee.

If you want to transfer money without a fee, consider using XE Money Transfers.

Why?

Outside of a bank, XE is one of the largest and safest companies in the world. They are a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year.

They offer better rates for large transfers, charge no fees and have good customer service if you need help with your transfer.

Related Review: Learn more about XE here.

Pros

  • Well known and trusted brand.
  • No international money transfer fees, or minimum transfer amount.
  • Accessible customer service.
  • Business and individual support.

Cons

  • Limited currencies available to transfer.
  • Maximum transfer size of $500,000
  • They do not accept payment by cash or cheque.
  • No customer service on weekends.

Moving to Australia

If you’re heading to Australia, every dollar counts.

The most important things to consider are the rate and fees. But you also want to use a company that is both licensed in the country you're sending money from and in Australia.

When transferring money to and from Australia, consider using TransferWise.

Why?

We like TransferWise for anyone moving to Australia, because of their Borderless Account which comes with a debit card. It allows you to hold, receive, transfer and spend different currencies including Australian Dollars (AUD). This is particularly useful because you can have an Australian Dollar account before you arrive, making the move a lot less stressful.

Related Review: Learn more about TransferWise here.

Pros

  • Clear and transparent exchange rates fees.
  • The online experience is first class.
  • Like the banks, they are regulated by ASIC and registered with an AFSL.
  • Their Borderless Account is like a foreign currency account.

Cons

  • There are currently a number of global currencies they do not support.
  • Limited support based in Australia.
  • Percentage based fee can add up on very large transfers.

Frequently asked questions

How long does it take to send money to Switzerland?

Paypal and Western Union (cash pick-up) are the fastest options. The transfer can be done in minutes.
If you're sending the money to a bank account, it will take 1-2 days if you use a bank.
Or 2-3 days if you're using a money transfer company.

What information do I need to make a transfer?

To send money overseas, you’ll need the following information of the bank account you're sending the money to:

Beneficiary or Recipient Details

  1. The Account Name of your Recipient (person/business you're paying)
  2. Their address
  3. The SWIFT Code of their bank

Is it safe to use The Currency Shop to compare?

Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.

How does The Currency Shop make money?

The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.

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