What is the mid-market rate?
The mid-market rate (also called interbank or spot rate) is the midpoint between the buy and sell prices that major banks quote each other in real time. It's the cleanest, most neutral reference rate and the one published by Google, Reuters, the ECB and XE.com.
No retail customer gets the mid-market rate directly — banks need to make money. Instead, they apply a spread: they sell you foreign currency at slightly above mid-market and buy it back at slightly below. The size of that spread is the real cost of conversion, regardless of whether the provider also charges an explicit fee.
Calculating the true cost of a conversion
Always compare amount received, not headline rate or fee. If you send CHF 10,000 and the recipient receives EUR 10,400, divide: 10,400 ÷ 10,000 = 1.040. Compare that to the current mid-market CHF/EUR rate. The gap is your total cost, including any 'hidden' margin.
On the same CHF 10,000 transfer: a Swiss high-street bank typically delivers EUR 10,200–10,300 (2–3% total cost). Wise or Revolut deliver EUR 10,440–10,460 (0.4–0.6%). The €150–250 saved per transfer adds up fast for anyone paying euro-zone suppliers or sending money home.
Cards, ATMs and travel: the rules in 2026
When you tap a Swiss-issued Visa or Mastercard abroad, three things happen: the merchant's bank converts to your home currency, your card network (Visa/MC) adds a 1% network spread, and your bank adds a 1.5–2.5% foreign-transaction fee. The total can hit 4%. Always pay in the local currency, never in CHF — choosing 'pay in CHF' triggers Dynamic Currency Conversion at terrible rates (5–7% markup).
Multi-currency cards from Wise, Revolut or Neon let you hold balances in EUR, USD, GBP and others, converting at mid-market when you top up. For frequent travellers or remote workers paid in a foreign currency, this saves 2–4% on every transaction with no per-use fee.
Convert with confidence
Use the EuroCalc currency converter to compare today's mid-market rate against typical bank and fintech spreads before you transfer.
Open the converter →Frequently asked questions
Are 'zero-fee' currency exchanges really free?+
No. They make money on the spread instead. A '0% commission' bureau at an airport often has a 6–8% spread — by far the most expensive option you can choose.
What's the cheapest way to send money from Switzerland to the EU?+
For under CHF 20,000: Wise or Revolut, typically 0.4–0.6% all-in. For larger amounts, compare 2–3 specialist brokers — at CHF 100,000+ they often beat fintechs by negotiating the spread.
Should I exchange cash before travelling?+
Almost never. Cash exchanges have the widest spreads of any retail product. Withdraw at an ATM at destination using a fee-free multi-currency card, or pay by card.
How do exchange rates move and can I time them?+
Daily rates are noise. Major currency pairs (CHF/EUR, EUR/USD) move 5–10% over a typical year on macro and rate-differential news. For large planned transfers, splitting into 3–4 tranches over a few months smooths the timing risk.
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