How to wire Swiss Francs to DR

[william webster]

Please.... please.

The question is one for Switzerland...the Swiss bank.... not here.

The recipient has little to no input....

ask the Swiss bank....

 

[HDR]

The by far best solution for you is to change the CHF in your Swiss bank to USD, then wire it here to an USD-account here. Then you get the "market rate" in Switzerland and a good rate for your USD here. If you wire your CHF directly here into a bank account here you will get a very bad rate. Not a good idea.

Changing CHF to EUR in Switzerland and then wire it to a EUR-account here is also an alternative. See what rate you get at your bank in Switzerland CHF/USD and CHF/EUR and then do the calculation what gives you the most pesos. Good luck.

 

[LTSteve]

Hi everyone, I know its not possible to open an account in swiss francs in this beautifull country...

But is it a way to get swiss francs sent from Switzerland over here?

You will have to convert Francs into either Euros or US Dollars and wire it into an existing account. Not that difficult.

 

[william webster]

Wasn't it AnnaC who deliberated over this problem with her Cdn $$$....?

Whether to exchange twice or not?

 

[rubio_higuey]

Exactly I dont want to exchange chf > usd > pesos because the chf to usd went down by 20%

This just makes me laugh. If CHF to USD went down by 20%, then CHF to DOP went down as well. Or you think you are going to get a 20% FX arbitrage opportunity? Good luck with that! Much bigger money men would have already taken advantage of such opportunity. You may be losing tenths of percent max on double interbank currency exchange.

As per FX.com

1,000.00 CHF = 45,626.30 DOP

and then,

1,000.00 CHF = 997.841 USD
997.841 USD = 45,635.44 DOP

Basically the same thing, save less than 9 pesos.


Your bank will convert the outgoing transaction for you. Your account is debited in CHF, and depending on the corresponding bank used it will use EUR or USD as intermediate currency. If your account in the DR is in USD, you might ask your bank to use US-based intermediary. If your account is in RD Pesos, then basically the intermediary currency (EUR/USD) does not matter. SOme DR banks have correspondent accounts both in USA and Europe (allowing for use of both USD and EUR as intermediate currency), while some banks only have corresponding accounts at US banks, which permits them to use USD only as the intermediate currency.

 

[william webster]

Excellent advice , Professor.

Nice math lesson...........

 

[jinty05]

The OP nwould be better off using a service like HiFX which charge considerably less than European Banks to transfer funds internationally. He would require to transfer in Swiss Francs/US dollar then into a dollar account here. All this can be achieved within a 20 minute window through HiFx.

 

[habi]

Hi Dom Rep
Like the other members already mentioned is it not possible to wire CHF and receive CHF here.
What really works for me is the service of www.swisstransfers.ch (smalworldfs.com).
You can wire the CHF via On-line Banking to them and they sen it to La Republica either directly to your bank account here
or they bring it where ever you want/need it.

 

[KITTU]

Hi everyone, I know its not possible to open an account in swiss francs in this beautifull country...

But is it a way to get swiss francs sent from Switzerland over here?

First of all how much money are we talking about?
I got wired all my AVS money from switzerland without any hindrance, also other transfers came through easily. Had my account in Banco Popular, with the IBAN number and account number i got the money in three days. With UBS or Bank Kantonal, ebanking it's super easy.
Your other option would be to check with UBS miami if you can open a swiss franc account. PM me for more information.