How much does currency exchange really cost?
Discover the hidden cost of the spread.
Many intermediaries claim "zero commissions," but apply a hidden markup to the exchange rate. Use our calculator to compare fees and find out how much you can save today.
The spread:
the "invisible" cost of currency exchange.
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Optimize your salary every month
For a cross-border worker who regularly converts Swiss francs into euros, the cumulative effect of bank spreads can mean losing over €2,000 a year. By activating our Recurring Exchange Service, you can automate the conversion at the best available rate as soon as you receive your salary.
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Frequently Asked Questions (FAQ)
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Do banks charge fees on currency exchange?
Many banks advertise “zero commissions,” but apply a significant spread to the exchange rate. This means the rate offered is less favorable than the real interbank rate. In practice, the cost is not a visible fee but a difference built into the exchange rate itself. For the EUR/CHF pair, bank spreads can reach 2–3%, especially for transactions on private accounts. Before making a currency exchange, it is always advisable to check the rate actually applied and compare it with the mid-market rate.
What is the spread in currency exchange?
The spread in currency exchange is the difference between the interbank rate (the real market price) and the rate applied to the customer. It is the main hidden cost in conversion transactions between euros and Swiss francs. For example, if the real EUR/CHF rate is 0.91 but 0.90 is applied, the difference represents the intermediary’s margin. Even a few decimal points can have a significant impact on large amounts, such as a cross-border worker’s salary. Understanding the spread is essential to evaluate the real cost of the exchange.
Is it better to exchange cash or make a bank transfer?
In general, exchanging cash is more expensive than making a bank transfer. Physical exchange offices have operational and cash-handling costs, which are reflected in the rates they apply. In addition, in tourist areas or airports, the spread can be particularly high.
Online exchange via bank transfer, on the other hand, allows access to more competitive and transparent rates. For those who regularly convert CHF to EUR, such as cross-border workers, a bank transfer is usually the more cost-effective solution.
Why is currency exchange more expensive at the airport?
Currency exchange at the airport is generally more expensive due to high rental, staffing, and operating costs. In addition, people who exchange money at the airport often do so out of immediate necessity, without comparing alternatives. This allows providers to apply wider spreads than the market average.
The difference between the interbank rate and the rate offered can exceed 5–8%, significantly affecting the amount received. For this reason, it is advisable to plan your currency exchange before departure.
How much can a cross-border worker save on CHF/EUR exchange?
A cross-border worker who converts their salary from Swiss francs to euros every month can lose hundreds or even thousands of euros per year due to bank spreads. Even a 1–2% difference in the EUR/CHF exchange rate can have a significant impact over 12 monthly payments.
By using a service with a reduced and transparent spread, the annual savings can be substantial. For this reason, many cross-border workers choose digital solutions with automated recurring exchange.