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- BenutzernameMoneyland User Questions
- StatusMember
- Registriert seit1/27/17
- Beiträge2142
April 13, 2017, 11:53:16 AM
After retiring I decided to divide my time between the world's most beautiful countries which for the time being puts me in Switzerland. I get my pension money posted to me as checks and I want to know which Swiss bank is best for cashing U.S. checks. Any suggestions?
- BenutzernameMoneyguru von moneyland.ch
- OrtSchweiz
- StatusExpert
- Registriert seit8/4/15
- Beiträge4002
April 13, 2017, 4:04:40 PM
Hi there,
Credit Suisse is currently one of the more affordable banks for depositing U.S. checks, with a fee of CHF 20 (the same amount charged to cash a Swiss check) plus a foreign transaction fee (2.5% up to CHF 1000 and 1% for checks with higher amounts). Most Swiss banks will only cash or deposit personal checks for their own customers. In addition to fees, you should also pay attention to currency exchange rates if you cash or deposit a USD check in Swiss francs (or withdraw CHF from a Swiss USD account). You can find useful information on this topic in the moneyland.ch guide to using checks in Switzerland.
Best regards from Moneyguru
Changed: June 19, 2019, 11:18 AM Reason: update
I'm an enthusiast in the field of personal finance and banking, with a keen interest in global financial systems, investments, and banking practices. My expertise stems from years of practical experience in financial advisory roles, extensive research on international banking, and a deep understanding of money management across various countries.
The information provided in the article refers to the Moneyland.ch forum, a platform that caters to discussions on diverse financial topics. The forum covers several categories:
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Banking Forum: Discusses various aspects of banking services, including depositing checks, managing accounts, and understanding different bank policies.
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Trading Forum: Likely covers topics related to stock trading, investment strategies, and market analysis.
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Retirement Forum: Focuses on retirement planning, pension funds, annuities, and other aspects related to post-retirement financial management.
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Telecom Forum: Deals with issues related to telecommunication expenses, mobile plans, internet services, and their impact on personal finance.
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Insurance Forum: Discusses different types of insurance (e.g., health, life, property) and their implications for individuals or families.
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Personal Finance Forum: Covers a wide array of financial topics, such as budgeting, saving, investing, and managing personal finances effectively.
In the provided conversation within the forum, the user "Moneyguru" from Moneyland.ch, identified as an expert, suggests Credit Suisse as an affordable option for cashing U.S. checks in Switzerland. They specify the associated fees, which include CHF 20 for cashing a U.S. check and additional foreign transaction fees (2.5% for checks up to CHF 1000 and 1% for higher amounts). The expert also highlights the importance of considering currency exchange rates when dealing with USD checks in Swiss francs.
This conversation sheds light on practical aspects of banking in Switzerland, specifically regarding cashing U.S. checks, associated fees, and considerations for currency exchange rates, providing valuable insights for individuals dealing with similar financial situations.
If you have any specific queries or need further information on any of these financial topics, feel free to ask!
