ATM usage for Euros in Switzerland

ATM usage for Euros in Switzerland

Share this page on Facebook Share this page on Google+ Share this page on Twitter Print this page
Create an account to receive an e-mail when someone replies to this thread
Posts: 8. This thread is closed.
Fognorth
Fognorth
29 posts
active member
May 30, 2015 - 5:56 PM

Is there any fee disadvantage or exchange rate disadvantage to getting Euros in Switzwerland from an ATM machine. Better to wait till I get to Italy to make a withdrawal of Euros? Doesn't seem logical to expect a difference but thought I would ask. Thanks.

Slowpoke
Slowpoke
2657 posts
expert
May 30, 2015 - 7:02 PM in reply to Fognorth

No data on Italy, and no recent data from Switzerland, but it used to be that the Swiss ATM and banks were all regulated on what conversion rates they could use. So, I always change my USD to CHF after I arrive, because the exchange rates are highway robbery at Travelex in the USA.

So, at first thought, I'd get my Euros in Switzerland if I were converting from CHF.

But,the second thought adds a puzzle.

If the funds have to go through a double conversion - that is, a first conversion to CHF from ( for example) USD or GBP. then a second conversion from CHF to Euros, before they spit out the money, that would be a double hit.

I don't know how to find out ahead of time. If you do, please post.

Arno
Arno
7722 posts
expert &
moderator
May 31, 2015 - 8:31 AM

The Euro isn't the currency of Switzerland, but it is Italy's currency. To me it would make sense to get your money from an ATM in Italy, but I don't know the rates. That will mainly depend on your bank and the exchange rate of the day to your own currency.

Slowpoke
Slowpoke
2657 posts
expert
May 31, 2015 - 9:28 AM in reply to Arno

However, most Swiss ATM's -especially those of the larger banks - will give you funds in CHF or in Euros from whatever your funds source - which, in my case is a bank in the USA. Before all the fuss about banks and FATCA, it was CHF, because I maintained a modest Swiss "checking" account at Post Finanz. No more.

Since UBS, CS, etc., have large businesses in foreign curencies, I'd hope thatthey would give a "bank rate + 3% or so" for a conversion from USD to Euros, even if their ATM is in Switzeland.

I guess the only way to find out is to do some experiments. ;-(

Fognorth
Fognorth
29 posts
active member
May 31, 2015 - 11:12 PM in reply to Slowpoke

Slowdown, would sure like to know BEFORE I go? Hope someone will know. Thanks for your thoughts😃

Fognorth
Fognorth
29 posts
active member
May 31, 2015 - 11:14 PM

Darn correcting words..I meant Slowpoke!

Slowpoke
Slowpoke
2657 posts
expert
Jun 1, 2015 - 12:28 AM in reply to Fognorth

<<" 26posts: active memberMay 31, 2015 - 11:12 PMin reply to SlowpokeSlowdown, would sure like to know BEFORE I go?">>

So would I.

Arno
Arno
7722 posts
expert &
moderator
Jun 1, 2015 - 6:13 AM

Fognorth, you can best check with your bank. They should be able to tell you the exact cost of withdrawing Euros from an ATM in either Switzerland or Italy. It's probably on their website too. The only surprise you have left then is the exchange rate of the day.

ALL SWISS RAIL PASSES

Find out how the several passes work, what they cost and where to buy.

More

HOW TO PICK THE BEST PASS

Having trouble finding the right rail pass? Learn how to pick the one that best fits your plans.

More

THINGS TO DO IN SWITZERLAND

Suggestions for day trips and hiking trails in the Swiss Alps.

More

THE HOTELS WE SUGGEST

Browse the hotels that we like. Budget hotels, hotels near the rail stations, mid class hotels, luxurious 5-star hotels, airport hotels and more.

More

More on MySwissAlps.com

Swiss tips in your mailbox

Sign up to receive our newsletter and the latest forum messages. The best way to prepare for your trip!

Sign up

Get a customized itinerary for your trip

Let Swiss travel consultants create a customized itinerary. They can arrange for your entire trip.

More
© MySwissAlps.com 2002-2016