Lock in the best AUD/CHF exchange rate and find the lowest transfer fees when you send money to Switzerland.
Do you need to send money to Switzerland? Are you looking to import products from a Swiss supplier, buy a Swiss property or pay off an outstanding debt in this beautiful Alpine country?
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After you've submitted your details, a TorFX consultant will contact you via the phone number you've provide for a free consultation. You will typically receive a response within one business day.
TorFX are international money transfer specialists and have an office based in Surfer's Paradise Queensland and have the AFS Licence number 246838. We will not collect your personal information unless it's necessary to provide the information, advice or service you've requested and, where possible, you'll be able to use our services anonymously.
Why would I want to use this form?
If you have never transferred money before or have a large amount of money to transfer (like paying back an overseas home loan or receiving an inheritance), you may feel more comfortable speaking to a person instead.
See exchange rate updates in real-time
|1 USD =||1.0000||1.2555 Inverse: 0.7965||1.2347 Inverse: 0.8099||0.8404 Inverse: 1.1899||6.5910 Inverse: 0.1517||0.7401 Inverse: 1.3511||64.5780 Inverse: 0.0155||17.8218 Inverse: 0.0561||51.0500 Inverse: 0.0196|
|1 AUD =||0.7965 Inverse: 1.2555||1.0000||0.9834 Inverse: 1.0169||0.6694 Inverse: 1.4939||5.2497 Inverse: 0.1905||0.5895 Inverse: 1.6963||51.4360 Inverse: 0.0194||14.1949 Inverse: 0.0704||40.6610 Inverse: 0.0246|
|1 EUR =||1.1899 Inverse: 0.8404||1.4939 Inverse: 0.6694||1.4692 Inverse: 0.6807||1.0000||7.8427 Inverse: 0.1275||0.8807 Inverse: 1.1355||76.8423 Inverse: 0.0130||21.2064 Inverse: 0.0472||60.7451 Inverse: 0.0165|
|1 GBP =||1.3511 Inverse: 0.7401||1.6963 Inverse: 0.5895||1.6682 Inverse: 0.5994||1.1355 Inverse: 0.8807||8.9052 Inverse: 0.1123||1.0000||87.2522 Inverse: 0.0115||24.0793 Inverse: 0.0415||68.9743 Inverse: 0.0145|
If so, you’ll need to find the best exchange rate for your transfer. By timing your transfer when the AUD/CHF exchange rate is at its peak and by choosing the transfer provider that offers the best exchange rate, you can enjoy huge savings on your transaction.
AUD/CHF: How to get value for money
If you’re sending money from Australia to Switzerland, there are two critical factors you need to consider:
- Sending your transfer at the right time, when the AUD/CHF exchange rate is at its highest
- Choosing a transfer provider that consistently offers high AUD/CHF exchange rates and competitive transfer fees
Let’s start with the first of these two points: how do you pinpoint the best AUD/CHF exchange rate? The best place to start is to take a look back at the historical performance of the AUD compared to the CHF.
Australian dollar to Swiss franc exchange rate history
The AUD replaced the British pound (GBP) as Australia’s official currency in 1966. Though originally fixed to the GBP, the AUD was to eventually become a free-floating currency during 1983.
Meanwhile, the Swiss franc (CHF) was first introduced back in 1798, replacing a wide range of different currency systems used by cantons and cities across the country, but didn’t become Switzerland’s official currency until 1850. The value of the CHF was pegged to silver and gold throughout the late 19th and early 20th centuries before being linked to the US dollar (USD) under the Bretton Woods System after World War II.
The CHF has generally been seen as a safe currency by traders on global markets, due in part to Switzerland’s low inflation rate. A legal requirement that the CHF be backed by at least 40% gold reserves, abolished in 2000, has also contributed to the currency’s ability to trade at a higher value than the AUD.
However, as the effects of the global financial crisis hit many economies around the world in 2007, Australia’s resources boom saw the AUD outperform the CHF and hit highs of 1 AUD = 1.07 CHF.
The two currencies then achieved something close to parity for the period from late 2009 to mid-2013 – except for a brief period in mid-2011 when the Swiss National Bank capped the CHF’s exchange rate against the euro, causing the CHF to lose more than 8% against all other major global currencies.
In recent years, as Australia’s economy has slowed, the AUD has dropped in value to sit around 0.75 CHF. However, the two currencies are still both popular choices with currency traders, with the AUD the fifth most popular currency traded on global markets and the CHF just behind it in seventh.
When can I find the best AUD/CHF exchange rate?
Exchange rates are constantly fluctuating – if you need evidence of this, just take a look at a graph charting the 24-hour performance of the AUD/CHF exchange rate. And if you look at a graph examining the exchange rate fluctuations over the course of a few months or even a year, you’ll see just how dramatically a currency’s value can change in a relatively short period of time.
For example, let’s say you wanted to send $5,000 to Switzerland in 2016. Had you looked to send the transfer in June when 1 AUD was worth 0.71 CHF, you would have received poor value for money. But by waiting just one month until July when the rate rose to 1 AUD = 0.75 CHF, your AUD$5,000 would have bought a lot more CHF.
The best exchange rate on offer in 2016 came in October when 1 AUD = 0.76 CHF. As you can see in the table below, this higher exchange rate would have allowed you to send an extra CHF250 than if you had sent the transfer in June.
|June 2016||July 2016||October 2016|
|Transfer amount (in AUD)||$5,000||$5,000||$5,000|
|Exchange rate||1 AUD = 0.71 CHF||1 AUD = 0.75 CHF||1 AUD = 0.76 CHF|
|Amount received (in CHF)||3,550||3,750||3,800|
How do I know when to transfer AUD to CHF?
The best time to send an international transfer to Switzerland is when the AUD is performing strongly against the CHF – in other words, when the AUD/CHF exchange rate is at its highest point.
Unfortunately, it’s often far from easy to predict the future course an exchange rate will take. There are several factors that can influence the performance of an exchange rate, including everything from interest rates and inflation to political changes on a national and global scale, while economic developments in both Australia and Switzerland can have an effect.
There is no sure-fire way of predicting what will happen to any exchange rate in the coming weeks, months and years, but there are plenty of things you can do to make an educated guess about which way the rate could be headed. Stay abreast of important economic and political developments, monitor financial forecasts for any exchange rate news and look back at the AUD/CHF exchange rate history for information on factors that can drive the rate up or down.
So when is the best time to send AUD to CHF? The graph below, taken from xe.com on 24/05/2017, shows the performance of the AUD/CHF exchange rate in the year leading up to that date. As you can see, the best times to send money to Switzerland during that 12-month period were:
- In February 2017 when 1 AUD = 0.777 CHF
- In March 2017 when 1 AUD = 0.772 CHF
- In April 2017 when 1 AUD = 0.765 CHF
- In October 2016 when 1 AUD = 0.763 CHF
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How to choose the best transfer provider
Finding the right time to transfer money to Switzerland is only half the battle; the other half is finding the right transfer company to handle the transaction. There are three main options to choose from when sending money overseas:
- Banks. Sending an international transfer via your bank may be convenient, but it also means you may need to accept a lower exchange rate than you can find elsewhere.
- Cash pickup transfer providers. These companies, such as Western Union and MoneyGram, provide fast transfers in as little as 10 minutes and the convenience of a cash pickup option. However, they can have high transfer fees and don’t offer rates as high as those from online transfer providers.
- Online money transfer providers. Specialist online transfer companies, such as CurrencyFair and OFX, usually offer the highest exchange rates and lowest fees, providing value for money when you need to send funds overseas.
Case study: bank vs money transfer provider vs cash pickup provider
As the manager of an Australian online financial services startup in the midst of an expansion program, Sue needs to send CHF5,000 to Switzerland to help get the company’s new Zurich office up and running.
All of the company’s business banking is usually done with one of Australia’s Big Four banks, but Sue has grown tired of accepting the low exchange rate they offer for each and every transaction. She decides to compare her bank with a cash pickup transfer company and an online transfer provider to see which offers the best deal.
|Bank||Cash pickup transfer provider||Online transfer provider|
|Exchange rate||1 AUD = 0.6885 CHF||1 AUD = 0.695070 CHF||1 AUD = 0.7229 CHF|
|Processing time||2–5 days||10 minutes||2 days|
|AUD needed to send CHF5,000||$7,284.16||$7,373.52||$6,920.59|
|Cost compared to bank (including fee)||-||$89.36 more expensive||$363.57 cheaper|
As you can see, by using an online transfer provider instead of her bank, Sue can save an impressive $363.57 on the cost of her transfer but still send the exact same amount of CHF overseas. This clearly shows why it’s important to compare transfer providers and hunt around for the best deals on exchange rates and transaction fees.
Other tips to help you find the best AUD/CHF exchange rate
There’s plenty more you can do to find the best AUD/CHF exchange rate when sending money to Switzerland, including:
- Monitoring the market. The exchange rate quoted in financial news reports is the mid-market rate, which is the rate at which banks buy and sell currency from one another. Checking the AUD/CHF mid-market rate regularly will help you work out whether the exchange rate a provider offers represents good value for money.
- Comparing multiple quotes. Obtain quotes from multiple transfer providers and see how they stack up against one another. Make sure any quote includes the full transaction fee and keep an eye out for companies that quote you the interbank rate rather than the rate you will actually receive.
- Place a forward contract. With a forward contract, you can protect yourself against a drop in the exchange rate by locking in an exchange rate now for a future transaction.
- Place a limit order. With a limit order, you get to specify the exchange rate you want for a transaction and then let your transfer provider do the hard work of monitoring currency markets. Your transfer is then automatically sent when your desired rate is offered.
- Send larger transfers. Some companies offer fee-free thresholds for large transfers – transfer more than a specified amount and you will not have to pay any fees. You can also cut down on transaction charges by sending one large transfer instead of several smaller ones.