If you’re planning to transfer money from Switzerland to UK for business or personal purposes, there are a variety of options. You can transfer via a bank, the post office or an online money transfer provider.
DNCB’s experts will give you more information on each option and outline each advantage and disadvantage. As a result, you can pick the best way to transfer money from Switzerland to UK.
Generals of transferring money from Switzerland to UK
The Swiss Franc (CHF) is the officially legal tender of Switzerland. The Pound Sterling (GBP) is widely used in the United Kingdom.
The United Kingdom is the major net exporter of financial services. London is home to fintech companies and global payment institutions.
Which way to transfer money from Switzerland to UK?
Because Switzerland and the UK are one of the biggest financial hubs, there are regular exchanges between central banks, supervisory authorities and banks.
They have been trade partners and a close economic tie for ages. The UK is the sixth most vital trading partner in Switzerland. In 2020, Swiss exports and imports reached a total trade volume of about CHF 32 billion.
At present, about 700 Swiss companies are doing business in the UK. Trades between the UK and Switzerland are estimated to be over £31.7 billion per year.
Due to the huge demand for business purposes, there are many methods to transfer money from Switzerland to UK to satisfy business and personal purposes.
Here are the best way to transfer money from Switzerland to UK you need to know:
Best way to transfer money from Switzerland to UK
Transfer money from Switzerland to UK with a bank
There are more than 300 banks in Switzerland. All of them are licensed to operate by the Swiss Federal Banking Commission.
To make payments to UK, you’re required to have a bank account. Banks and institutions need to work with banks in the UK.
Bank transfers can take between 2-5 days. For your money to reach its destination as quickly as possible, pay attention to your bank’s acceptance cutoff time.
Some banks will charge an incoming fee for their client’s incoming payments, in addition to third-party charges. Basically, it can cost less to make fewer but bigger transfers abroad.
By transferring money from Switzerland to the UK with a bank, it’s fast and secure. However, beneficiary banks can charge high fees and payment order at the counter is only possible on business days.
Use an online money transfer provider
There are various money transfer providers with competitive prices and good services for remittances from Switzerland to UK.
Those payment systems are offered by several financial institutes. They all use a secure encryption technology to protect your financial information from any potential risks.
Some online payment systems have an account with the sender’s and recipient’s bank. In this case, the deposit & cash withdrawal on the beneficiary account is considered as a domestic transfer, which charges very cheaply.
In general, the transaction fees can be less expensive than those of a bank, depending on the provider and the recipient’s country. Also, it’s easy to use for everyone.
An online money transfer provider allows you to access your account history and transactions anywhere and anytime. This is the most obvious way to see whether a transaction has cleared your account or not
Here is a list of online money transfer providers you need to know before choosing one of them, such as: DNBC Financial Group, XE, WorldRemit, Western Union, CurrencyFair, Remitly, TransferWise, OFX, TransferGo…
According to many people, this is the best way to transfer money from Switzerland to UK.
At DNBC Financial Group, you will transfer up to 500 000 EUR a day for business accounts in 173 countries. They supply their customers with alternative transfers at the lowest possible rate.
The beneficiary will receive the money in one-three days. Especially in some cases, the beneficiary money can reach in minutes. It’s necessary if there is any emergency, and you have to get the money across to the US from Switzerland without waiting for your transactions so long.
In addition, you can think of other alternative solutions to meet your demand for transferring money from Switzerland to the USA such as Western Union, Remitly, WorldRemit, CurrencyFair, Wise or TransferGo.
You can send money between accounts online. It’s more convenient than visiting a bank in person, which requires you to fill in the information in some cases.
More information of DNBC Financial Group
DNBC Financial Group strives to boost the best business account for international payments around the world, including from Switzerland to the USA.
We offer full online payment app solutions, money transactions with multiple currencies, being transparent and quick delivery speed.