Wise (TransfertWise) Switzerland review

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Product is rated as #8 in category Swiss Neobanks
7.7
Account opening9
Usability8
Features6
Credit Card8
Fees9
Speed7
Customer Service7

Wise (TransferWise) 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.

The opening of the bank account is fast and easy.

Wise (TransfertWise) Switzerland review
Wise (TransfertWise) Switzerland review

Description

Multi-currency Borderless account

Wise (TransferWise) offers a free multi-currency bank account: the Borderless account

This account comes with the following benefits:

  • Multi-currency account (more than 50 currencies)
  • Account managed via a mobile app or desktop
  • Free SEPA transfers
  • Free Debit MasterCard

Wise (TransferWise) fees in Switzerland

It’s free to create a Wise account and there is no maintenance fee or minimum balance.

Wise (TransferWise) 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 (TransferWise) use interbank currency rate and apply their fees in full transparency.

Read our comparison of the the best echange rate CHF / EUR
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TransferWise Mastercard Borderless debit card

Unlike CurrencyFair or b-sharpe, Wise (TransferWise) 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 there country where you are making a purchase.

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Why use Wise rather than Zak or Neon?

Wise (TransferWise) 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:

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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):

Wise (TransferWise) is usually cheaper than Neon and Zak. You can also compare Wise fees with other banks (UBS, BCV, PostFinance,…) on the Monito website.

7.7Expert Score
Wise Switzerland review
Wise (TransferWise) 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. The opening of the bank account is fast and easy.
Account opening
9
Usability
8
Features
6
Credit Card
8
Fees
9
Speed
7
Customer Service
7

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