Mozo guides

Send money to Switzerland

An international money transfer (IMT) takes place you transfer money from your domestic account to an account overseas. The best part about Mozo’s guide on transferring money to Switzerland is that it’s pretty straightforward. 

Is an International Money Transfer right for me?

Do you... Yes No
a) want to transfer money to friends or family?

b) have a business in Switzerland?

c) need to convert dollars to euros for a Swiss holiday?

d) have property in Switzerland?

If you’ve answered yes to a, b and d, then you’re certainly reading the right Mozo page. Had you also answered yes to c, then you may want to check out our travel money section instead  where you can compare everything from prepaid travel cards and holiday insurance to overseas debit card fees and travel credit cards.

FAQs about transferring money to Switzerland

How do I actually transfer money to Switzerland?

Australia’s IMT market has grown more competitive over the years. This means that when you’re converting Aussie dollars to Euros and transferring them to your Swiss destination, you’ll have quite a few providers to pick from. 

The big question is: what’s the best option for you? There are three main to send money overseas from Australia - banks, foreign exchange specialist services and standard wire transfers. Here’s a snapshot of the pros and cons of each option.


It’s sometimes strange to think that we would take our money matters away from the safe confines of a bank, but there are other ways of transferring funds across the globe that are just as safe. However your bank may be a good place when it comes to familiarising yourself with the IMT process before looking elsewhere.

  • Pros: Familiar names that you already trust and use.
  • Cons: Higher transfer fees than other agents or financial providers. Not as convenient as other methods if you can’t go to a branch during regular banking hours.

Foreign Exchange Specialist

As specialist FX or foreign exchange specialists aren’t dominated by multi-level operations like regular banks, they just focus on mainly one thing - exchanging currencies worldwide. This means a Specialist FX has the power to secure better deals than banks. So if you want more euro value for your Aussie dollars, online IMT and foreign exchange providers like SendFXTorFX and OFX. For more examples, check out our international money transfer providers page. Or the winners of the Mozo Expert Choice Awards. The best part about using an IMT provider is the flexibility, available 24/7.

  • Pros: Quick and safe international money transfer, tend to have cheaper exchange rates and transfer fees than banks
  • Cons: Only online or phone transfers available, so it may not suit people who prefer to face-to-face assistance.

Standard Wire Transfer

Companies like Western Union or PayPal are a fast and easily accessible way of transferring funds from one person to another. A wire transfer can be made from one bank account to another or through a transfer of cash at a branch.

  • Pros: Fast and over-the-counter service available in many places around the world
  • Cons: The exchange rate offer by standard wire transfers aren't the best and tend to limit how much you can send it a day.

Is wiring money to Switzerland risky?

While doing anything online can come with risks if you’re not careful, your money transfer should be in safe hands, as long as you’ve taken some precautions. There are ways to tell whether you’re using a legitimate service or not. 

  • Choose a reputable IMT provider - A good starting point is making sure your provider abides by Australia’s strict compliance standards. Check that they are approved by ASIC (Australian Securities and Investments Commission) and AUSTRAC (Australian Transaction Report and Analysis Centre).
  • Keep your devices updated - Protecting your PC or mobile gives you buys you security to transfer, shop and do your regular banking online, anytime.

Can I make a one-off transfer to Switzerland?

Of course. And no one will ask why. So if you’re sending a gift to a friend or relative or buying a car before migrating to Switzerland, you're free to do so.

Want to make regular payments? For business purposes or any other reason, Mozo recommends that you ask your IMT agent to tailor a deal for your individual situation. Depending on your provider, transferring on a regular basis could come with benefits such as waived fees. 

How do I compare IMT agents?

Mozo makes this as easy as possible. You don’t have to spend hours jumping from one site to the next. Just use our online money transfer comparisons tool to compare multiple IMT agents in one go. 

What to keep in mind when comparing IMT services:

  • Limits: there are banks or FX providers who are strict about how much you can exchange and transfer at any one time. In some cases, the more the minimum, the less the rate and visa versa. But this isn’t a guarantee. Make sure you assess which combined offer will suit your budget instead of going for the first fee/rate combo you see.
  • Rates: if you’re interested in saving money, then you really need to take take notice on the rate that’s on offer. It will definitely affect the overall cost involved. Fancy dinner tonight, or tinned tuna? Your call.
  • Transfer speed: it’s great to know that ‘immediate’ transfers are available, but it doesn’t mean that the money you send will be immediately available to the end user. Keep in mind that it takes 2-8 business days for money to clear, no matter what the IMT agent promises. Best thing to do? Plan ahead before making transfers to ensure your money gets to the recipient in a timely manner.
  • Fees: you could pay anywhere between zero and $30 or more to initiate the IMT process. If saving money is important to you, then makes sure you compare IMT agent costs before you send money across.
  • Online vs phone or in person: online will nearly always outweigh over the phone or transferring money to Switzerland in person in terms of fee savings. If you’re feeling confident about making a transfer on your own, then it’s worth the saving. It’s pretty straightforward and simple - give it a go!

How do I set up an international money transfer?

Firstly, you need to decide which direction you will take - online, in person or over the phone?

Working this out first, will determine your best next steps.

  • Will you be logging on to your online bank account or app?
  • Visiting a branch?
  • Filling out a form online?

Whichever way you choose to transfer money to Switzerland, some crucial bits of information you’ll need for a successful transfer include:

  • Full name and address of the recipient’s bank
  • Recipient's name, address and account name
  • Account number or International Bank Account Number (IBAN)
  • SWIFT/BIC code of your personal account you're transferring funds from
  • Amount you would like to send.

Compare exchange rates for Euro and IMT provider options

What amount do you want to send? Select the amount of Australian dollars you want to exchange and Mozo’s IMT compare tool will give you an estimate of how many Euros you’ll get with today’s rates. Remember - the rates change hourly, so be sure to check back again for regular transfers.

I want to transfer
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Maria Gil
Maria Gil
Money writer

Maria Gil writes across all of our personal finance areas here at Mozo. Her goal is to help you think smarter about money and have more in your pocket. Maria earned a journalism degree in Florida in the United States, where she has contributed to major news outlets such as The Miami Herald. She also completed a masters of digital communications at the University of Sydney. When Maria isn’t busy with all things finance, you can find her tucked away reading fantasy books. She is also ASIC RG146 (Tier 2) certified for general advice.