Leaving to study abroad

International study: reducing currency exchange rates

Studying abroad has now become standard practice, and some schools or universities even require their students to have an internship in a company abroad or a year of study in a school or university abroad.
Whether it's a complete or partial cycle of study, the student will leave for several months or even several years, during which time he or she incurs expenses in another country, most of the time in a local currency.
Each foreign student who decides to study abroad will also need to take several steps, such as finding accommodations, enrolling in school or university abroad, etc. Here's an overview of the various expenses that a student may face, as well as the solutions that b-sharpe's multi-currency exchange platform can provide to those wishing to study abroad.

Foreign currency expenses that can be costly

This type of endeavour usually involves several expenses, often in foreign currencies. Registration fees, accommodation costs and food costs are the most common costs one faces upon arrival as well as in everyday life.

Exam fees and school or university registration fees

Even before entering school or university, students will usually need to pay registration fees, especially if they submit an application or take an exam. In this case, the costs are extremely variable, ranging from a few hundred francs (in a foreign currency equivalent) to a few thousand francs.

This is true, for example, for European students who wish to study engineering at the EPFL in Lausanne, at the Geneva - Neuchâtel high school of music or for Swiss students who wish to study at a European or American school.

What b-sharpe offers to optimize foreign currency exchange for your studies

At this very early stage of the student's expatriation, b-sharpe allows you:
  • to pay registration or exam fees from home: b-sharpe allows you to pay the establishment directly in Swiss francs, without additional fees, using our account.
  • to conduct foreign currency exchanges in the currency you're interested in at one of the best rates in the industry and with very low fees (the margin on exchange fees is generally 70% lower than those charged by traditional banks) without having to leave home.
  • to have access to a wide range of currencies, available immediately: Swiss francs, euros, dollars, yen, pounds sterling, Canadian dollars, Australian dollars, etc.

Sign up with b-sharpe is easy and free of charge, and given its versatility, you don't even need to change banks. b-sharpe is compatible with your normal banking services.

Calculate your savings

b-Sharpe rate:

Operating costs: 0 CHF

Expected date of receipt of funds:

2019-10-17 (24h)

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The most frequently asked questions...

Why use b-sharpe as a cross-border employee?

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.

How do I transfer my cross-border salary with b-sharpe?

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.

Is it safe to exchange my salary on b-sharpe?

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).

How does b-sharpe calculate its exchange rates?

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.

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