5000 Euros using XE trade cost 6,239.50 + wire fee of 18.65 so total 6258.13 CHF
5000 Euros using Post finance cost 6200 CHF
I am interested to see if there are any further bank charges & how long each transaction takes to arrive in Malta.
I normally just use Post Finance to make foreign exchange transactions, as I am buying a property in Malta I will have to make some large transfers so I thought I would do a test
I dont think you'll have any other charges. If you have time, try currencyfair. They have great rates and are easy to send money within Europe
Ok the Swiss Post arrived on Friday, the XE trade arrived on the following Monday. Amazed that Swiss Post was the better deal .
I set up an account with XE.com thinking it would save money on banks and other institutions, in the end it seemed even UBS was better value for money overall. I realised then that XE wasn't so good as I hoped.
I can also recommend currencyfair.com. I set up an account this year with them after my disappointment with the xe rates. From my experiences I could also recommend it. As the previous poster also mentioned if you have time to spare you can also wait for someone else to cross the spread on the currencyfair marketplace - this can take time though as i really don't think they have high volumes (not on the GBP/CHF market, EUR/CHF might be different). Even without waiting, the rates I found to be really good. Fee to transfer out (none to transfer money in) was 4chf a time with no bank fees for me as it is effectively a local currency transfer each time. So all in all a good experience so far.Easy to set up too and I got interested in them due to recommendations on this website from other members.
I know this is an old post, but hopefully someone is still watching it. I'm also in the situation of needing to send sums in the 5,000 CHF range, to USD. I thought XE Trade would be the way to go based on some old threads I read here. But I'm very unimpressed with the rate they're offering me for CHF->USD.
Anyone else have experience comparing postfinance with xe trade? Anecdotally the post seems to be the way to go...
We just transfered money to the US using post. It offered a slightly better rate than xe. The rates were .9446 for post and .989 for xe. Looking at currencyfair, it looks like you can get an even better rate (although we have never used them).
Update: Somewhere along the way, 10 USD was taken out as a fee. So in summary, the difference between xe and post is only a couple of chf/usd. We have found that xe is a bit easier to use then the post.