Wire transfer is the fastest mode of receiving money in your Credit Suisse Group AG (Switzerland) account from abroad. You can receive money into your Credit Suisse Group AG account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to Credit Suisse
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Switzerland) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your Credit Suisse Group AG account, please provide the following wire instructions to the sending financial institution:
|Bank Name:||Credit Suisse Group AG Switzerland|
|SWIFT BIC Code for Credit Suisse:||CRESCHZZ80A|
|Beneficiary Account Number:||Your complete Credit Suisse Group AG account number|
(including leading zeros, if any)
|Beneficiary Name:||The full name of your account as it appears on your statement|
|Beneficiary Address:||Your complete address|
Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees.
Outgoing International Wire Transfer Instructions
To send international wire transfer from your Credit Suisse Group AG account, You need to know the following information about the person or company receiving the money:
1. The recipient’s account name and address
2. The recipient’s IBAN or account number
3. The name and address of recipient’s bank – including the BIC (Business Identifier Code) / SWIFT code / clearing code
Incoming Wire Transfer Fees for Credit Suisse Switzerland
International Incoming Wire Transfer Fees for Credit Suisse is as follows:
|Incoming Wire transfer Fees||Electronic Banking specialists will provide details of prices|
(separate price sheet)
Outgoing Wire Transfer Fees for Credit Suisse Switzerland
International Outgoing Wire Transfer Fees for Credit Suisse is as follows:
|CHF/EUR payments||Free of Charge|
foreign currency payments
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Wire Transfer Cutoff Time for Credit Suisse Switzerland
1. The Cut-off Time for Credit Suisse for non-STP CET is 14:00 pm and for STP CET is 16:30 pm.
2. Any requests received after cutoff time will normally be processed the next working day.