2% surcharge for using Cumulus credit card abroad

Finance, Taxes, Banking, Insurance and Retirement
1
I got the new Migros Credit Card as it advertised no admin charges when using it abroad. However, a recent Google search revealed that Migros adds roughly 2% to the interbank currency conversion rate. I had naively assumed that the interbank rate was used. Oh well, back to Revolut I guess.

2
Hello,

Indeed they use the Migros Fx rates updated each day. Like each "Bank - rates"they're worse than the interbancar one. It's still one of the best credit card to be used abroad as most of other ones will even apply a surcharge for payments in CHF abroad. If you're looking for a better credit card to use abroad you can check UBS Key4(Mastercard exchange rate + 0.5% surcharge). For swiss debit cards the best one remains the one from Neon (Neobank with swiss Iban) that uses Mastercard exchange rate.

If you're looking for the best Fx rates and lowest fees you should consider Revolut but beware that they don't have a bank license.

Hope this helps

3
Revolut does have a bank licence.

4

https://help.revolut.com/help/more/l…evolut-a-bank/

Sadly only in the EU at the moment. Revolut in Switzerland follows the UK entity. But hopefully they should acquire a license in the upcoming months

5
Bongu Marsalforn, havn‘t seen you around for a while.

6
I like Wise.com myself, it is a prepaid cardso not a credit card.

7
ubs 1.75%

8
And that's on top of the exchange rate, which is not the interbank one...

9
Does any credit card use the interbank one? I was under the impression they all used their own etc

10
No, that’s a way to make money. Revolut rates are pretty good though.

11

FYI
https://www.moneyland.ch/en/revolut-switzerland-faq

12
So you save 50p.

Big deal.