Fineco Bank multicurrencies account

jbryce

An update as someone DM'ed me with a question.

I withdrew €20 (that was the minimum withdrawal) from the Raphaels Bank ATM at Piccadilly Circus. It took €20 out of my account.

nilocmac

nilocmac wrote: »

Has anyone ever transferred CHF,USD or EUR from Fineco to Revolut?

I asked Fineco how much they would charge for moving CHF to Revolut and I gave them the CHF IBAN that Revolut has. They said £19.95.

However my thought is now to exchange the CHF to GBP within Fineco and then transfer to my Santander account (previously when I have done this no charge). Then top up my Revolut card in GBP and finally exchange to CHF (within Revolut). It seems a quite convoluted route but I reckon with minimal charge.

nilocmac

So I managed to exchange CHFs to GBPs within Fineco and then transferred them to my Santander account (with no charge). Then topped up my Revolution card in GBPs and finally exchanged to CHFs (within Revolut). I think I ended up with an extra Franc because of the exchange rate and am now ready to go on holiday to Switzerland to spend them.

eDicky

Why not send the GBP direct from Fineco to your Revolut GBP personal acc.no. /sort code..?

nilocmac

eDicky wrote: »

Why not send the GBP direct from Fineco to your Revolut GBP personal acc.no. /sort code..?

Very good question.. Am hmm.. I think it was probably because in the past I had topped up my Revolut with my debit card and also I had transferred GBP from Fineco to Santander without cost (so I knew this definitely worked) so this seemed the best option.

But perhaps I will try your suggested route next time.

starM

Hi,

My other half opened up Fineco account a few months ago referred by me.

As the bonus was paid we stopped using the card. I received an email from Fineco saying her account is overdrawn. When checking the account she has been charged with 2.95 for card shipping card.

I am pretty sure when account was opened first card issur was free of charge. We have emailed Fineco but thru disagree with the first card bring free of charge.

Has anyone else had the same issue? And is there a shipping charge for the first card?

Thanks

KTF

I had the same overdrawn message after ordering my 'free' card and whilst the card is free, there is a shipping charge for it (no wonder given it comes via DHL from Italy).

Roger1

I opened a Fineco account, one main reason being that I thought I could make payments in CHF to another Swiss account.

Yes, it is possible but at a charge of £20 for an 'international' payment. (They call it £19.95.) So a same currency payment is 'international'?

€ > € would have been f.o.c., presumably £ and $ too. But I still can't make CHF transfers at nil or low cost.

Oh, dear. Back to square one.

Roger1

Roger1 wrote: »

Reading the posts above, IIUC a CHF debit card is not included as standard in the Fineco offer but can be obtained for £19.95 p.a.

Is that correct? Thanks.

Answering my own question, no. Just GBP and EUR.

Roger1

Roger1 wrote: »

I opened a Fineco account, one main reason being that I thought I could make payments in CHF to another Swiss account.

Yes, it is possible but at a charge of £20 for an 'international' payment. (They call it £19.95.) So a same currency payment is 'international'?

It gets worse. The payment was for CHF 144 (about £111). Bank charges of CHF 26.10 were deducted from the paid amount! So the payment incurred charges of £19.95 + CHF 26.10 = about CHF 52, so about 36% if my mental arithmetic is correct.

I don't know whether to or - definitely :mad: In any case, the situation for us is unsustainable.

For our purpose - making CHF payments to a CHF account - the FINECO account cannot be recommended. € to €, $ to $ probably/possibly OK, but CHF to CHF, forget it.

The payee (a government organisation) wants us to pay the CHF 26.10. How should we do this? Use Fineco? I don't think so. Put cash in an envelope? Possibly.