Many people in Switzerland use their credit cards to get cash and end up paying heavily in the way of cash advance fees. This moneyland.ch guide explains which Swiss credit cards can be used for fee-free cash withdrawals, and how to go about it.
Credit card issuers charge fees when you use your credit card to withdraw money at ATMs. Here you can find answers to the most important questions.
How high are credit card cash advance fees in Switzerland?
The exact fees for cash withdrawals can be found on the information pages of credit cards included in the interactive credit card comparison on moneyland.ch.
Typically, the cash advance fees of Swiss credit cards are charged at a rate of between 3.5 and 4 percent of the amount you withdraw. Almost all Swiss credit cards also have minimum cash advance fees per withdrawal. The percentage-based fee only applies if it is higher than the minimum fee. Most Swiss credit cards have a minimum fee of 5 or 10 francs for local withdrawals at Swiss ATMs, and 10 francs for withdrawals outside of Switzerland.
Example of fees for cash withdrawals:
These examples are based on a credit card cash advance fee equal to 3.75 percent of the amount withdrawn, with a minimum fee of 5 francs per local withdrawal, and 10 francs per withdrawal outside of Switzerland.
As the above examples show, fees for withdrawing cash using a credit card can be as high as half the amount you withdraw, in some cases. Cash advance fees are exceptionally high in relation to small cash withdrawals because of the minimum fee charged per withdrawal.
But that is not all: Cash withdrawals can be even more expensive if you choose to pay for cash withdrawals outside of Switzerland in Swiss francs, instead of in the local currency. In that case, you may pay additional dynamic currency conversion fees. What is more, you may also pay an ATM fee when you withdraw money at foreign ATMs, but this applies to withdrawals with debit cards as well.
Are there credit cards that do not have cash withdrawal fees?
Yes, there are Swiss credit cards which do not have a cash withdrawal fee for certain kinds of withdrawals. The table below lists Swiss credit cards with which you can make fee-free cash withdrawals under certain conditions:
| Credit card | Fee-free cash withdrawals | |
|---|---|---|
| In Switzerland | Outside of Switzerland | |
| Credit cards from Bank Cler | If you activate the direct debit function, cash withdrawals are debited directly from your linked Bank Cler bank account and you do not pay fees to withdraw cash at Bank Cler ATMs. |
No fee-free cash withdrawals outside of Switzerland. |
| Credit cards from many banks in the Entris group (Clientis banks and 20 other regional banks) |
If you activate the direct debit function, cash withdrawals are debited directly from your linked bank account and you do not pay fees to withdraw cash at your bank’s ATMs. Fee-free cash withdrawals may be possible at all Swiss ATMs, depending on which Entris group bank you use. |
No fee-free cash withdrawals outside of Switzerland. |
| Credit cards from cantonal banks | If you activate the direct debit function, cash withdrawals are debited directly from your linked cantonal bank account and you do not pay fees to withdraw cash at cantonal bank ATMs. |
No fee-free cash withdrawals outside of Switzerland. |
| Migros Cumulus Visa credit card | Fee-free cash advances at the tills of Migros supermarkets (up to CHF 1000 per transaction and day) and Denner, Migrol, and Migrolino (up to CHF 500 per transaction and day). Cash advances are charged to your card balance and included in your regular credit card bill. |
Two fee-free cash withdrawals of up to CHF 500 per withdrawal at foreign ATMs per year. |
| Migros Bank Visa Free | Fee-free cash advances at the till at Denner, Migrol, Migrolino, and Migros. Cash advances are charged to your card balance and included in your regular credit card bill. |
Two fee-free cash withdrawals of up to CHF 500 per withdrawal at foreign ATMs per year. |
Does using a credit card to get cash make sense?
Making cash withdrawals with credit cards is generally best avoided because the fees can be very high. Even if you can make fee-free withdrawals, it is worth noting that you do not earn rewards like points, airline miles, or cash back for cash withdrawals.
If you still prefer to use your credit card to get cash, make sure to use a credit card and withdrawal method that minimizes cash withdrawal fees.
Debit cards are, in most cases, a much cheaper solution for cash withdrawals. Most Swiss banks do not charge you fees when you use their debit cards to get cash at their own ATMs. Many Swiss debit cards can also be used to get cash at the tills of Swiss stores and supermarkets.
More on this topic:
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Tips for using credit cards and debit cards while traveling
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