Wise (TransfertWise) 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.
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.
TransferWise Mastercard Borderless debit card
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.
[table “8” not found /]
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:
- Zak use an exchange rate set by Viseca (non available on the web)
- Neon use the Mastercard exchange rate
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.