Currency exchange for cross-border workers

Currency exchange (Swiss francs to euros) is a transaction which can be conducted in several ways: in Switzerland, outside of Switzerland, in a Swiss bank or in a foreign bank outside of Switzerland. In whatever way this exchange is conducted, b-sharpe, the expert in Swiss franc to euro exchange transactions, offers you a very attractive solution.

Exchanging Swiss francs for euros: your options

For cross-border workers, currency exchange is often limited to the exchange of a single currency: Swiss francs (usually their salary) for euros, which can then be used in their country of residence for paying bills and other expenses. In the following and for the sake of simplicity, we'll mainly be talking about cross-border workers from France, but the logic is the exact same for all countries in the European Union whose currency is the euro.

Cross-border workers can conduct their currency exchanges in a number of ways:

  1. By exchanging their Swiss franc salaries in an exchange office in Geneva, Basel or anywhere else in Switzerland (in this case, they hand over their Swiss francs to the exchange office and receive euros in return). This means they must physically take the euros to their bank in France.
  2. By exchanging their salary in their bank in Switzerland, then physically withdraw the euros from this bank and physically bring them to their French bank.
  3. By exchanging their salary in their bank in Switzerland and make a transfer to their French bank. In this case, the transfer of funds is done electronically.
  4. By exchanging their salary in their bank in France after having transferred Swiss francs (either physically or through an account transfer).
  5. By having their Swiss francs exchanged directly by b-sharpe, and then automatically transfer the euros to their bank in France.
  6. By sending their Swiss francs from their account in Switzerland to b-sharpe, who then transfers the euros to their French bank.

No matter how you're set up with your banking, you don't need to change banks to enjoy an attractive exchange rate: b-sharpe adapts to your situation and allows you to save money on your Swiss franc to euro currency exchanges:

OUR TIP

  • Your employer can transfer your salary directly to b-sharpe.
  • b-sharpe then takes care of exchanging your Swiss francs, and you can then transfer your euros wherever you wish (to your French bank or elsewhere).
  • Please note: if you don't want to exchange your entire salary, you can ask your employer to transfer part of your salary to one account and the other part to another account (b-sharpe, for example).

YOUR BENEFITS

  • Lower fees and a better exchange rate than in exchange offices
  • No risk of your money being stolen.
  • You save time not having to physically go to an exchange office.

OUR TIP

  • In this case, simply enter b-sharpe's IBAN number on your Swiss e-banking site, and you can transfer your Swiss francs electronically to b-sharpe, who will then take care of the exchange transaction.
  • From b-sharpe's dashboard account, you can then transfer your euros to the bank of your choice (in France, Switzerland or elsewhere).

YOUR BENEFITS

  • Lower fees and a better exchange rate than your bank in Switzerland.
  • For this type of in-person transaction, the bank usually charges 1% more in fees, which you won't pay with b-sharpe.
  • No risk of your money being stolen or lost; there's no physical handling of cash.
  • You save time not physically having to go to your bank; the funds are transferred with just a click or a phone call.

OUR TIP

  • All you need to do here is to make an electronic transfer (free of charge) from your Swiss bank account to the b-sharpe CHF account given when you open the account. You can then electronically transfer your Swiss francs to b-sharpe, who will then exchange your Swiss francs for euros.
  • b-sharpe will then automatically transfer the euros to the account of your choice (in France, Switzerland or elsewhere).

YOUR BENEFITS

  • Lower fees (an average of 70% less).
  • A better exchange rate than your bank in Switzerland.

OUR TIP

  • All you need to use here, from your Swiss bank's electronic banking site, is b-sharpe's IBAN and make a transfer of Swiss francs to the b-sharpe account.
  • Once the transfer is complete, b-sharpe will take care of the exchange and will transfer the euros to your account in France.
  • Please note: with this method, some French banks charge fees on receipt of euros (SEPA transfers).

YOUR BENEFITS

  • Lower fees (an average of 70% less).
  • A better exchange rate than your bank in Switzerland.

OUR TIP

  • You can decide to have your salary transferred directly to b-sharpe.
  • At your request, b-sharpe will then exchange your Swiss francs for euros, and transfer them to the bank of your choice in France, Switzerland or any other institution.
  • Please note: since the salary payment is made to a b-sharpe account (which is not, strictly speaking, a salary account), you'll need to give your employer a document with the transfer instructions (b-sharpe provides this document to all clients wishing to choose this option).

YOUR BENEFITS

  • You'll receive a much better exchange rate.
  • With this direct payroll option with b-sharpe, you do not need to have a Swiss bank account and you save several hundred Swiss francs in bank fees.

The most frequently asked questions

Each month, cross-border employees are subject to exchange rate fluctuations between the Swiss franc and the euro when they look to exchange their salary. There are several ways to do it, but they're not all equal from a cost perspective.

Saving money is always good. b-sharpe's service saves an average of 70% on the margins that banks usually charge on top of the exchange rate for Swiss border salaries.

Example:

For a cross-border employee exchanging 5,000 CHF to EUR per month, the yearly savings would be approximately 624 EUR.

Additionally, our service is compatible with all configurations, so you don't need to change banks, whether in Switzerland, France or elsewhere.

b-sharpe is an online service which allows border-workers to exchange their Swiss francs for euros at the best rates.

With b-sharpe, cross-border workers don't need to change banks. They simply transfer the amount of their salary in Swiss francs that they wish to change to euros. b-sharpe then takes care of the exchange and transfers the euros into their bank account.

The diagram for the exchange and transfer of your salary is as follows:

  1. Your employer sends your salary in Swiss francs to your regular salary account (Swiss or foreign bank).
  2. Using b-sharpe, you transfer the amount of your salary in Swiss francs that you wish to exchange for euros.
  3. Once the exchange has been completed, b-sharpe transfers the amount in euros to the bank of your choice in France, Switzerland or elsewhere.

With b-sharpe, your employer can also directly transfer your salary to b-sharpe without going through a Swiss bank.

Transfers are insured against fraud and piracy

The b-sharpe multi-currency exchange platform ensures all customers' transfers against fraud, for a total of 3 million CHF. Your money's security is our priority.

An exchange and funds transfer service with the highest security standards

Hosted in Geneva, Switzerland, the b-sharpe platform benefits from the most advanced encryption technologies, thus ensuring 100% security for your transactions (whether for the exchange of your cross-border salary in Swiss francs or for transfering a sum of euros to your bank).

Contrary to the majority of banking establishments and exchange offices, b-sharpe has adopted a policy of total transparency with respect to its cross-border clients. For each exchange transaction from Swiss francs to euros, you'll know the exchange rate actually applied and the margin we also apply.

For each transaction, the reference rate used by b-sharpe is the interbank market's real-time rate. Our platform is, in fact, in constant connection with the major players in the currency market.

For more information on the exchange rate, take a look at this blog article: How an exchange rate is calculated (in french).

As such, our clients can be assured that the exchange rate charged by b-sharpe will always be as close as possible to a currency's actual rate, and they won't have to pay more for their transactions in foreign currencies.