How to Send Money to Switzerland from Canada?

How to Send Money to Switzerland from Canada?
Last Updated: 08 Jun 2024

You can’t always take a trip to Switzerland, but your money can. Discover where to find the best Canadian dollar to Swiss Franc exchange rates before sending money to Switzerland.

Switzerland boasts stunning Alps, renowned for skiing and picturesque landscapes. Famous for chocolates, luxury watches, and more, it's a top spot for Canadians, with many living or doing business there. Bilateral trade between Canada and Switzerland thrives, encompassing pharmaceuticals, timepieces, and electronics. For seamless money transfers, consider MTFX, catering to individual and corporate needs alike.

How to transfer money from Canada to Switzerland?

The two most common approaches for sending money from Canada to Switzerland include an online money transfer service or relying on a traditional bank. Below, you'll find a step-by-step procedure for executing a money transfer from Canada to Switzerland:

Choose your method: If you want a quick and easy way to transfer funds, an online money transfer service may be the best option. However, if you prefer the conventional approach and do not need your funds immediately, using your bank or pre-paid card may be best.

Gather the necessary information:  You will need the recipient’s bank details and contact information when using the money transfer service or banks. 

Initiate the transfer: Once all the required information has been provided, initiate the transfer and wait for it to be completed. 

Track your transfer: Once you've initiated the transfer, monitoring its progress to confirm its arrival in the destination country is essential. This tracking process is typically available through most online services and can also be facilitated by your bank.

What is the best way to send money to Switzerland?

The following characteristics should define the best way to send money to Switzerland:

  • Best value for money
  • Convenient and premium service
  • Expert assistance 

This automatically rules banks out because banks aren’t exactly known for offering favourable exchange rates or transfer fees. Sending money abroad via banks isn’t quick either.

On the other hand, your best bet is an industry-leading foreign exchange service like  MTFX. MTFX exchange rates are guaranteed 3-5% lower than the banks with low transfer fees. 

The MTFX 24/7 platform and your online account are secure, faster, and more convenient. You can set up regular payments and have your money arrive within 24-48 hours. Additionally, you can speak to an MTFX currency specialist if you have any questions to ask.

What is a good CAD/CHF exchange rate for sending money?

The most efficient way to send money to Switzerland is by selecting the fastest method with the lowest transaction fees. When conducting transactions with Swiss counterparts, settling payments in Swiss Francs is advantageous. 

MTFX's competitive rates equate to significant savings, potentially amounting to $1500 or 5% for every $30,000 transferred to a Swiss bank account. As a result, you can anticipate saving hundreds or even thousands of dollars per transaction.

With MTFX, you can maximize your savings regardless of the transfer amount. Benefit from exchange rates that are typically 3-5% better than those offered by traditional banks. Additionally, transfer fees are reduced, and there are no extra charges from intermediary banks when utilizing your online account for money transfers.

Who can use MTFX to send money to Switzerland?

If you’re in Canada, you can send money to Switzerland as an individual or company for the following reasons:

Companies

  • Paying suppliers
  • Purchasing goods and services
  • Making business payments
  • Making investments

Individuals 

  • Paying for tuition
  • Making investments
  • Buying property
  • Moving to Switzerland

What bank details are needed to transfer money to Switzerland?

The following bank details are needed to transfer money to Switzerland:

  • Beneficiary's name
  • Beneficiary's address
  • Beneficiary's account number
  • Bank's name
  • Bank's Swift code
  • Bank's address
  • Reason(s) for transfer

Can I set up a regular money transfer to Switzerland?

Once your business account is set up with MTFX, you can easily schedule money transfers to Switzerland. Our platform utilizes cutting-edge automation technology to streamline your payments, offering accessibility from anywhere, at any time, all while ensuring secure and swift transaction processing. 

How to send money to Switzerland from Canada with MTFX?

The most optimal way to send money to Switzerland is by choosing the quickest method with the lowest transaction charges. When dealing with Swiss suppliers,  it is easier to pay them in Euros. Paying your European supplier in Canadian dollars or U.S. dollars entails currency conversions and foreign currency conversion charges, leading to unnecessary costs for your overseas purchase. 

With MTFX, you can enjoy substantial savings regardless of your transfer amount. Benefit from exchange rates that are 3-5% lower than those offered by conventional banks. Additionally, MTFX offers lower transfer fees and eliminates additional bank charges when sending money through your online account.

MTFX’s great rates translate to savings of $1500 or 5% for every $30,000 you send to a bank account in Switzerland. Therefore, you can expect to save hundreds or thousands of dollars per payment.

 

 

Send money to Swiss recipients with MTFX today

The sooner you register online for your MTFX business or personal account, the sooner you can get your account active. That way, you’re always ready to capitalize on great exchange rates and have your money reach its destination on time, every time.

Get on board with MTFX today to start enjoying secure, fast, and hassle-free payments to Switzerland.

 


FAQs

1. How can I send money from Canada to Switzerland? 

Sending money from Canada to Switzerland has significantly improved in recent years, offering a range of convenient options such as; 

Bank transfer: Although a traditional method, bank transfers may incur high fees for international transactions, making them less cost-effective.

Money transfer services: Explore alternatives such as MTFX, renowned for offering competitive exchange rates and lower fees compared to traditional banks. This option ensures efficient and cost-effective transfers.

2. How long will it take to transfer money from Canada to Switzerland?

If you send money with a service like MTFX, it typically takes 1-2 business days for the funds to arrive in the recipient's account.

3. How much does it cost to transfer money to Switzerland?

With MTFX, you can send money abroad for as little as $15 in transfer fees. Plus, transactions over $10,000 incur no additional fees, making MTFX significantly more affordable than banks, which may charge up to $50 for the same service.

4. Is it safe to send money to Switzerland from Canada online?

MTFX is officially registered and regulated by FINTRAC, guaranteeing the highest levels of safety and security when sending money abroad.

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