|MIGROS BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CHF||NO MINIMUM||5/7 DAYS||5.0%||1.088|
|EUR € - to CHF||NO MINIMUM||5/7 DAYS||5.0%||0.938|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CHF||From £100||From 1 DAY||From 0.7%||1.137|
|EUR € - to CHF||From £100||From 1 DAY||From 0.7%||0.98|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Migros Bank services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when transferring money overseas from your Migros Bank account in Swiss francs, euros, the UK pound and other currencies. Migros Bank international money transfers to or from Switzerland have higher transaction charges, due to a less competitive exchange rate offered by Migros Bank. Skip to: Switzerland Money Transfer Specialists
Typically, sending funds to or from your Migros Bank account in Swiss francs, euros, the UK pound or US dollar overseas bank account will involve a margin rate of 5.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Migros Bank account in Switzerland needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 Swiss francs (CHF) using Migros Bank services would have a transaction exchange rate margin of around 5.0% – or 5,000 CHF. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 CHF in total, which is a large saving over the bank service.
International money transfers from Migros Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Migros Bank account holder to use their services. Migros Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 (or 5,000 CHF).
Unless you pay a premium, Migros Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Migros Bank was created in 1958 and is part of the Federation of Migros Cooperatives in Switzerland. Migros Bank serves both Swiss private and business customers through over 60 local banking branches.