Bank Money Transfer from UK Accounts to Raiffeisen Bank
Sending GBP sterling to Swiss francs from UK to a Raiffeisen Bank account in Switzerland, a currency broker saves you time and money on the transfer. Whether you’re in Switzerland, the UK, France, Spain, Italy, Germany or anywhere in Europe or the U.S and need to transfer funds to Switzerland, using a currency broker is the smart choice, opposed to using a regular high street bank.
About Raiffeisen Bank Switzerland
Raiffeisen Bank is the third largest banking group in Switzerland and is the country’s leading retail bank with 3.7 million customers, of which 1.8 million are cooperative members and therefore co-owners of the bank. The banking group has a total of 1025 branches in Switzerland.
GBP, CHF & Euro Money Transfer to/from Raiffeisen Bank Switzerland
Making a transfer to or from Swiss francs using a bank service could potentially lose you thousands of pounds due to the poor FX margin rate offered. Private currency brokers offer a much more competitive rate of exchange. Example: Currency broker TorFX are one of the UK’s leading and largest foreign currency exchange specialists assisting private individuals and businesses with their foreign currency transfers to and from most countries worldwide. TorFX v traditional bank exchange rates:
|Company Name||FX Rate||GBP to CHF||FREE Quote|
|TorFX||*0.7%||Fr. 1.284 info||Enquire|
|Raiffeisen Bank||*5.0%||Fr. 1.227 info||Enquire|
|Typical Bank Rates||*1.9 to 6.2%||Fr. 1.227 to Fr. 1.267 info||Enquire|
UK pound sterling (GBP) to Swiss francs (CHF) currency rates are updated daily at 09:00 GMT. Data source – ECB
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from Swiss francs. Specialist foreign exchange companies including the ones listed below can save you money and time on the transaction.
UK bank to Raiffeisen Bank account v Currency Brokers
1: Bank money transfer information: General Guidelines – High street banks also charge a commission fee when sending money abroad into another currency – Private brokers offer commission free currency transfers typically over a value of £5000 or Fr. 6460.932 Swiss francs. Bank transfer commission fees range from £15 to £30 depending on the bank.
2: Unless you pay a premium, high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.
Sending Money Abroad with Raiffeisen Bank
To transfer funds abroad from your Raiffeisen Bank account, you have to give the beneficiary’s IBAN and BIC to the bank. International transfer requests may be submitted as long as you have signed a request at your local Raiffeisen Bank branch.