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Frequently asked questions about wechselstube.ch
  • What is wechselstube.ch?
    wechselstube.ch is a Swiss family-owned company with 20 years of experience in the field of commercial foreign exchange services and cross-border business payments. We started using the Internet at an early stage to enable us to serve a large number of customers with a relatively small team. With our platform we have revolutionised commercial currency exchange. Since 1999, we have been offering services which were once the exclusive preserve of banks at more favourable exchange rates. Just like major customers at banks, our customers can hedge their exchange rate risks and transfer funds to their foreign suppliers.
  • What happens once I have fixed the exchange rate online?
    You will receive a detailed order confirmation from us with all relevant information on the currency exchange. In the order confirmation you will find instructions on how to make the payment to us. As soon as we have received the credit advice confirming your transfer to Zürcher Kantonalbank, we will send you an e-mail confirming immediate payment to the account you specified.
  • How long does a currency exchange take?
    As a general rule, the sooner your payment reaches us, the faster we can make the counterpayment. If your funds are credited to our account before the close of clearing at 12.00 noon, we can make the counterpayment with a value date of the same day.
  • How can currency exchanges be booked?
    You will receive a detailed order confirmation for each currency exchange. This provides you with seamless documentation, while at the same time serving as a booking voucher.
  • Does wechselstube.ch support eBill (E-Rechnung)?
    Yes, it does. With eBill (formerly known as E-Rechnung) you receive the payment order to us directly in your e-banking application.
  • How is wechselstube.ch able to offer such outstanding terms?
    The large volume of small sums we receive add up to a substantial amount, enabling us to buy currency on the official foreign exchange market on even more favourable terms. Fully automated operations save us a great deal in costs.
  • Is it also possible to exchange cash?
    No, we confine ourselves to foreign exchange transactions.
  • What are the expenses involved in a currency exchange?
    We do not charge any fees or expenses for currency exchanges. The only exception is for purchases of foreign currency equivalent to less than CHF 5’000.00, which incur a foreign exchange charge of CHF 2.00. SEPA payments are free of charge. Please note that the receiving bank may charge a fee for amounts credited to customers’ accounts.
  • How are the exchange rates on our platform calculated?
    We improve our offer in stages. The larger the requested sums, the more advantageous our offer will be.
  • Are the published exchange rates in the currency converter real rates?
    Yes, at any given time the same rates can be fixed by our customers.
  • What do we mean by calculation certainty?
    Calculation certainty means you know the exact equivalent in, say, CHF of the sum you have to pay when you receive a supplier invoice in a foreign currency, or vice versa the exact amount you will receive for your foreign currency.
  • What is a mid-market exchange rate?
    A mid-market rate is a notional exchange rate provided for guidance purposes that does not include the service provider's profit margin. Our charts are updated at one-minute intervals 24 hours a day (Mon-Fri) and are intended as a guide to exchange rate movements. If you wish to request a tradable exchange rate for a specific amount, please use our current currency converter.
  • What is a fixed exchange rate?
    Exchange rates are determined (fixed) at the time of the actual currency exchange. For calculating certainty, it is crucial that there should be no further change in the exchange rate even if the money transfer takes place later.
  • What is the right way to compare exchange rates?
    There are three key points to consider when comparing exchange rates:

    Fixable exchange rate:
     
    Exchange rates are determined (fixed) at the time of the actual currency exchange. Therefore, only fixable exchange rates are comparable. For calculating certainty, it is crucial that there should be no further change in the exchange rate even if the money transfer takes place later.

    When you query prices on our platform, only real, fixable exchange rates are displayed, even before you transfer your money to us.

    Timing:
    The foreign exchange market is the world's largest financial marketplace. Exchange rates are therefore generally always moving. To be realistic, price comparisons need to be strictly simultaneous and based on a fixed rate, otherwise exchange rates cannot be compared.

    We update our exchange rates in line with movements on the financial market and make them available to you in real time 24 hours a day from Monday to Friday.

    Exchange rate:
    Make sure the exchange rate offered is a current buying or selling rate and not a mid-market rate. A mid-market rate is a notional exchange rate provided for guidance purposes that does not include the service provider's profit margin. You also need to make sure that the rate offered is not subject to any time lag.

    We always offer you real current buying or selling rates. Our charts showing the relevant mid-market rates are provided for guidance purposes.
  • Is it also possible to exchange sums of more than CHF 1'000'000?
    Yes, on request we are happy to increase your transaction limit on an individual basis.
  • Can the service also be used outside regular office hours?
    Yes, it can. You can fix currency rates and submit payment orders at any time of day from Monday to Friday.
  • Is there a minimum amount per currency exchange?
    No, there is no minimum amount.
  • Can currency rates also be fixed over the phone?
    Yes, they can. We are more than happy to take your order over the phone.
  • Where can I get assistance?
    Please call us on 061 406 97 97 or send us an e-mail (team@wechselstube.ch). We will be pleased to help.
Opening an account
Payment transactions – Paying creditors directly
Forward transactions
  • How can I hedge against exchange rate fluctuations?
    Use forward exchange transactions to fix the exchange rate now for a date in the future. This gives you a reliable basis for planning future foreign currency receipts and payments.

    Check out the terms with our currency converter for forward transactions. This shows you immediately what exchange rate will be used and how much you will receive.

    You can fix a rate for up to one year, giving you maximum planning certainty for your calculations by hedging against currency fluctuations.

    To activate this product on a non-binding basis, call us on 061 406 97 97 or e-mail us at team@wechselstube.ch.
  • What are the advantages of a forward exchange transaction?
    A forward transaction hedges you against exchange rate fluctuations / provides you with a fixed basis for your calculations.

    No speculation. With a forward transaction you leave nothing to chance.

    You need to pay a maximum of 10% to 23% up front. The rest of the funds remain at your free disposal.

    You can fix weekly forward dates, with a maximum term of one year.

    You know the exact countervalue that will be paid out when the date is reached.

    Foreign currency receipts and expenditure can be hedged.
  • What are the preconditions for foreign exchange forward transactions:
    We offer forward transactions starting from a countervalue of CHF 10'000.

    The minimum term is one week.

    The maximum term is one year.

    Hedging is only applied to your own accounts.

    The fixed forward rate means it is no longer possible to benefit from any possible advantageous exchange rate development.
Exchange rate alerts
  • Purpose of our exchange rate alerts
    Arrange to receive an e-mail or text message alert when the exchange rate exceeds or falls below a certain level.

    With our currency converter you can obtain a current, tradable exchange rate 24 hours a day (Mon-Fri). This shows you straight away what exchange rate is available to hedge your liabilities. In a second stage, you can ask to be alerted when the exchange rate reaches a certain level, taking account of your payment target, the current exchange rate forecast (e.g. in our Newsletter) and your personal risk tolerance.

    From then on, the exchange rate alert will be valid for one month and will notify you when your desired rate is reached.

    Tip: Existing customers of our foreign exchange platform usually set up several exchange rate alerts at once. This way they can already spot and, where appropriate, exploit smaller market movements.

    Important:

    Our exchange rate alert is a free information tool. It does not automatically place a buy/sell order when a desired exchange rate is reached.

Would you like personal support?

Allan Abt

We will be happy to advise you! Please call us on +41 61 406 97 97 or write to us. If you like, we can provide telephone support while you log on or do your transactions.