Those who travel often want to bring a little cash in the currency of their destination or a universal currency like dollars. In Switzerland, you can get practically any foreign currency, no matter how exotic, from major banks like UBS or Zürcher Kantonalbank. However, the costs are usually quite high—either due to an additional fee or a poor exchange rate. There are, however, ways to obtain foreign currencies at relatively low cost. In this article, we will look at the best options.

Withdrawing Cash Abroad

The cheapest method will always be to withdraw cash directly abroad. If you have a travel-friendly card like Revolut or Neon, you can usually obtain cash abroad with low fees, and in small amounts, even for free. Additionally, both Revolut and Neon offer you an almost perfect exchange rate. In certain countries, the ATM may charge a fee for cash withdrawal. However, even with that, this method is generally the cheapest.

But many people want to have some destination currency on hand before leaving, for example, to pay for a taxi from the airport to the city right after arrival. So, one has no choice but to buy foreign currencies in Switzerland beforehand.

Obtaining Foreign Currency in Switzerland - The Comparison

For this test, we compare three providers for currency exchange: SBB, Zürcher Kantonalbank, and UBS. We want to buy the following amounts of foreign currencies and compare what we pay per provider:

• 1,000 US Dollars
• 1,000 Euros
• 2,500 US Dollars
• 2,500 Euros
• 20,000 Mexican Pesos

We deliberately exchange once for more and once for less money since many providers offer better exchange rates for larger amounts of main currencies like Euros or Dollars. The comparison includes not only the exchange rate but also the additional fees.

Currency	SBB	Zürcher Kantonalbank	UBS
1,000 USD	899.50	896.40	892.50
1,000 EUR	896.40	896.40	892.50
2,500 USD	2,210.20	2,415.00	2,231.25
2,500 EUR	2,415.00	2,415.00	2,438.75
20,000 MXN	1,023.00	1,043.00	1,060.00
Total	7,444.10	7,665.80	7,515.00

Overall, SBB is the cheapest provider. While Zürcher Kantonalbank is less expensive in some cases, the shipping fees are usually higher. Let’s take a closer look at each provider. In addition to the providers mentioned above, we will also look at Migros Change, as this provider guarantees the best exchange rates. Since Migros Change’s exchange rates are not publicly available, we cannot include them in the comparison.

SBB Change

Facts

• 43 foreign currencies
• Pickup at SBB counter or home delivery
• 4 Francs exchange fee (waived for pickup with SBB GA)
• Maximum 1,500 Francs for shipping, maximum 5,000 Francs for pickup
• Choice between large and small bills
• Minimum order value 100 Francs

Conclusion

In our comparison, SBB Change is the cheapest provider. Those who have a GA can even reduce the price by 4 Francs upon pickup. A significant advantage of SBB Change is that you can pick up the currency at any SBB counter. This is a big plus for those who do not want to receive their money by mail.

Zürcher Kantonalbank

Facts

• 42 foreign currencies
• Maximum 20,000 Francs
• 5 Francs delivery fee, 10 Francs for Euros
• Precise selection of which bills you receive
• Only for ZKB customers
• No minimum order quantity

Conclusion

Our test showed that Zürcher Kantonalbank is usually not the cheapest provider. In certain cases, however, they may offer the best option. Additionally, you can specify exactly which bills you would like to receive. There is no option for counter pickup in eBanking. Popular foreign currencies will also be available at branches, where you can obtain them at the same exchange rate as online. In this case, the delivery fee is waived. A disadvantage is that the service is only available to ZKB customers.

UBS

Facts

• Only for UBS customers
• 53 foreign currencies
• Free shipping
• Maximum 15,000 Francs online, 25,000 Francs via customer advisor
• Minimum order value 100 Francs

Conclusion

UBS is the second cheapest provider. UBS stands out with free delivery starting from a minimum order amount of 100 Francs. However, the service is only available to UBS customers.

Migros Change

A less well-known option is Migros Change. It is particularly interesting because it guarantees the best exchange rate, known as “Price Matching.” If you find a better rate with another provider, Migros will match it. Unfortunately, this service is only available in the Basel and Geneva regions, in a total of 15 branches. Shipping is not possible. Additionally, the exchange rates are not published online, so an inquiry must always be made before knowing the final price. No additional fees apply either. So, if you live in the Basel or Geneva region and want to buy larger amounts of foreign currencies, you should definitely consider Migros Change.

Conclusion

As mentioned at the beginning of the article, the cheapest option is always to withdraw cash directly abroad. However, if this is not an option, there are several good providers for foreign currency purchases in Switzerland. Those living in the Basel or Geneva regions should definitely consider Migros Change. Bank customers should compare their bank’s offer with the online service of SBB and then decide between the more attractive option.