Cross Border Employees: Save on foreign exchange

Convert Swiss francs into foreign currencies

The exchange of currencies (Swiss franc against the euro) is a transaction that can be made in several ways: in Switzerland and abroad, in a Swiss bank or at a foreign bank outside Switzerland. Regardless of how the exchange is made, b-Sharpe, is an expert on Euro / Swiss franc transactions, and offers very attractive solutions.

Exchange of swiss francs to the euro: the different possibilities

For Cross Border Employees, foreign exchange can be summarised, generally, as the exchange of one currency, the Swiss franc to the euro: this means that a cross border employee changes his Swiss francs (usually from his salary) into the euro which he can use in his country of residence. For simplicity’s sake, we will speak mainly of cross border foreign exchanges for France, but the reasoning applies to all countries.

 

A cross border employee can make several arrangements for the exchange:

 

  1. a cross border employee may change Swiss francs salary at a bureau de change in Geneva, Basel or elsewhere in Switzerland (he exchanges notes at a bureau de change, in return for euros). He must then physically take these euros in cash to his bank in France.
  2. a commuter may change his salary in his bank in Switzerland, receive euros in cash at the counter of the bank, and then physically take them to the French bank.
  3. a commuter may change his salary in his bank in Switzerland, and schedule a transfer to his French bank. In this case, the amount of funds is reduced by the transfer cost.
  4. a commuter may change his salary into euros at his bank in France, having transferred the Swiss francs (either physically or by a transfer).
  5. a commuter may change his Swiss francs via b-Sharpe, and then automatically transfer the euros to his bank in France.

How b-Sharpe can bring you more euros from your foreign exchange

Regardless of how you organise your banking, there is no need to switch banks to get a great exchange rate: b-Sharpe fits in with your situation and allows you to save money on your foreign exchange transactions from euros to Swiss francs:

1

If you change your salary in Swiss Francs in cash at a bureau de change physically

Advice

  • Your employer could transfer your salary directly to b-Sharpe.
  • b-Sharpe would then change your Swiss francs, and you could transfer your Euros to wherever you want (your French bank or elsewhere)

Note: If you do not want to exchange your entire salary, you could ask your employer to transfer part of your salary into an account, and the rest to another account (b-Sharpe for example).

Advantages

  • Lower costs and more attractive exchange rates than at the bureau de change
  • No risk of having your money stolen
  • No need to lose time going to the bureau de change
2

If you change your Swiss Francs salary at a bank in Switzerland and then physically withdraw euros in cash at the bank counter

Advice

  • In this case, simply send the b-Sharpe IBAN to your bank and then you can transfer your Swiss francs to b-Sharpe electronically who will handle the exchange transaction.
  • From the b-Sharpe platform, you can then transfer your Euros to the bank of your choice (in France, Switzerland or elsewhere).

Advantages

  • Lower costs and a more attractive exchange rate than changing notes in your bank in Switzerland
  • For this type of operation over the counter, bank fees are generally 1% more expensive than with b-Sharpe.
  • No risk of having your money stolen
  • No loss of time going to your bank, and the funds are transferred by a click or a phone call
3

If you change your salary in Swiss Francs at a bank in Switzerland and make an electronic transfer of euros to a bank outside Switzerland

Advice

  • Simply send the b-Sharpe IBAN to your bank and then you can transfer your Swiss francs to b-Sharpe electronically who will handle the exchange transaction.
  • b-Sharpe will then transfer automatically the euros to the account of your choice (in France, Switzerland or elsewhere).

Advantages

  • Lower costs (70% less on average)
  • A better exchange rate than the exchange rate of your bank in Switzerland
4

If you exchange your salary in Swiss Francs to a bank in France (transfer directly to a french CHF account)

Advice

  • Simply forward your b-Sharpe IBAN to your French bank, and make a transfer of Swiss francs via b-Sharpe.
  • Once the transfer is made, b-Sharpe will handle the exchange, you can then transfer your euros to your account in France.

Note: With this mechanism, some French banks charge a fee on receipt of the euros (SEPA payment)

Advantages

  • Lower costs (70% less on average)
  • A better exchange rate than the exchange rate of your bank in Switzerland
5

If you change your salary into Swiss Francs with b-Sharpe

Advice

  • You may decide to transfer your salary directly to b-Sharpe.
  • At your request, b-Sharpe will change your Swiss francs into euros, and transfer them to the bank of your choice, in France, Switzerland or any institution of your choice.
  • Note: as the salary will be paid into a b-Sharpe account (which is not strictly a salary account), some employers will require a written confirmation.

Advantages

  • Lower costs and a more attractive exchange rate
  • With this mechanism, you do not need to have an account in a Swiss bank, saving several hundred Swiss francs in bank charges.

Calculate the savings you could make on foreign exchange with b-Sharpe

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*Rates updated in real time (last update: 24/05/2019 15:49)

They recommend us!

An overall winning & trustworthy service with savings on (i) Money - I cannot find a better all-in FX rate! and (ii) Time - I moved from physically withdrawing & changing @Migros bank over w/e's to online (e-banking + email) with b-Sharpe. In addition you gain on better decision making - you choose anytime when and how much to change. the b-Sharpe team turns it around in 24h and I'm informed exactly what rate was applied. I see the transfers on my a/c within a further 24h!
B. Manish
B-Sharpe provide a unrivalled platform and service within their industry. The level of service and professionalism that I have experienced first hand is a testament to the dedication of the company to service their clients needs. The process regarding all transactions is smooth and swift and I can only offer my highest recommendation for this team.
Smith Paul
Contracts Manager

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