These are the best ways to spend money in Switzerland!

Let's Explore the Best Ways to Spend Money in Switzerland!

Known for its stunning Alpine landscapes, luxury watches, and seamless public transport, navigating the best ways to spend money is essential for a smooth and stress-free trip in Switzerland.

With its modern infrastructure and efficient financial systems, it's no surprise Switzerland offers a variety of payment methods, from contactless card payments to traditional cash transactions.

If you plan a trip to Switzerland, understanding when to use cards, how much cash to carry, and the benefits of prepaid travel options can significantly enhance your experience.

In this brief guide, we'll explore the best strategies to make the most of your money in Switzerland, ensuring convenience, savings, and peace of mind as you explore everything the country offers.

Picture overlooking Thun in Switzerland from the famous Thun Castle. It is a sunny day, blue skies. Homes, trees and streets can be seen below.

Table of Contents

What is the Currency Used in Switzerland?

The local currency used in Switzerland is the Swiss Franc (CHF) which was established in 1850, replacing the various currencies used previously by several different member states within Switzerland.

Euros are accepted in some places in Switzerland, especially near borders or tourist-heavy locations, but this can be a much more expensive way to pay, and usually, change is given back in CHF.

Using Credit and Debit Cards in Switzerland

Credit and debit cards, especially Visa and MasterCard, are widely accepted in Switzerland, from high-end boutiques to small cafes in major cities.

Contactless payments are the norm, making it easy to tap and go, even for small purchases. However, it's really important to check with your bank regarding the potential foreign transaction fees they may charge as these can begin to add up quickly.

Cards like American Express may not be as widely accepted, especially in rural areas, so it's wise to carry a backup card or some cash.

Quick Overview of Using Credit or Debit Cards in Switzerland:

Wide Acceptance: Credit and debit cards (especially Visa and MasterCard) are accepted almost everywhere, including; Hotels, restaurants, shops, public transport and tourist attractions.
Contactless Payments: Switzerland is very advanced in terms of contactless payments, making it easy for tourists to use their card or smartphone via Apple Pay or Google Pay for smaller purchases.
Currency: While credit and debit cards will work in Swiss Francs (CHF), many places in Switzerland, especially touristy areas will accept Euros. However, it is recommended to always pay in CHF and avoid poor conversion rates by doing so.
Fees: Check with your bank or card provider about foreign transaction fees. Using a card with no foreign transaction fees will help save a lot of money by avoiding a pile-up of small fees for purchases abroad.

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Using Cash in Switzerland

While Switzerland is a card-friendly country, carrying some Swiss Francs is still useful, particularly for small transactions. ATMs are easy to find and allow the withdrawal of CHF, often offering better exchange rates than currency exchange counters.

Quick Overview of Using Cash/Getting Cash in Switzerland:

ATMs: Switzerland has an abundance of ATMs where you can withdraw Swiss Francs with your credit, debit, or prepaid travel money card. It is important to look for global networks on the ATM like Visa, MasterCard, or Maestro logos, this will help avoid unwanted charges to withdraw money. It will also be worth checking with your bank to see if they place a fee on international ATM withdrawals.
Cash Use: Cash is still commonly used in smaller establishments, especially in rural areas of Switzerland, local markets, or small cafes. You may also need cash for small purchases like public restroom fees, vending machines, or tips (see more about this below!).

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Using Prepaid Travel Cards in Switzerland

Prepaid travel money cards are excellent options for managing expenses in Switzerland. These cards allow you to load the card with Swiss Francs and avoid high international transaction fees often associated with traditional banks and credit/debit cards.

Travel money cards can be used like regular debit cards, offering competitive exchange rates and easy access to cash from ATMs.

Additionally, they help keep your travel budget on track by allowing you to only load the card with the amount of CHF you need, helping to avoid overspending.

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So, What is the Best Way to Spend Money in Switzerland?

If your bank or credit/debit card provider places high fees for international transactions and withdrawals, then your best option to spend money in Switzerland is to use a prepaid travel money card, that can be loaded with CHF before your trip, for larger purchases when you arrive in Switzerland. It is also worth combining a travel money card with carrying a convenient amount of CHF in cash for smaller purchases.

Morning mist pictured in the middle of Lucerne in Switzerland, buildings next to the river and a bridge can be seen in the photo.

Other Top Considerations When Spending Money in Switzerland

Tipping in Switzerland

Tipping is not mandatory in Switzerland, as service charges are typically included in restaurant and hotel bills. However, rounding up the total or leaving a small tip (around 5-10%) for exceptional service is a common practice.

Tips are generally given in cash, even if you pay the bill by card. In taxis, rounding up the fare is appreciated but not expected.

Cost of Public Transport in Switzerland

Switzerland's public transport system is world-class, but it can be expensive. A single train ticket between major cities like Zurich and Geneva can cost CHF 50-100, depending on the time of travel.

For tourists, the Swiss Travel Pass is an excellent way to save on costs, offering unlimited travel on trains, buses and boats for a set period. The pass also grants free or discounted entry to many museums and mountain excursions, making it a good investment for travellers planning to explore extensively.

You can also use the SBB Mobile app to buy tickets digitally. Most transport systems in Switzerland accept cards for ticket purchases.

Shopping and VAT Refunds in Switzerland

Switzerland's VAT is 7.7%, and non-EU tourists can claim a refund on purchases over CHF 300. To qualify, ask the store for a tax-free form, show your passport at the time of purchase, and ensure to keep receipts.

VAT refunds can be processed at Swiss airports or border crossings before departure, though it is worth noting that processing fees for your goods might slightly reduce the refund amount you get back.

Switzerland is known for luxury goods such as watches, chocolates and other forms of jewellery, especially if tourists are thinking of purchasing these items, the VAT refund can provide significant savings.

Beautiful scenic picture of a lake in Lungern, Switzerland on a warm sunny day. The lake is situated between two green valleys and mountains.

The Best Ways to Spend Money in Switzerland: A Summary

In conclusion, Switzerland offers a highly convenient and flexible financial landscape for travellers, making it easy to manage your money whilst exploring the country.

Credit and debit cards, particularly Visa and MasterCard, are widely accepted in most places, but carrying some Swiss Francs is always a good idea for smaller purchases in rural areas.

For the best exchange rates to get cash whilst in Switzerland, ATMs will be your friend, avoid currency exchange desks, especially when you've just got off the plane!

Prepaid travel money cards are a smart option for avoiding high fees and locking in favourable exchange rates, while mobile payments through Apple Pay and Google Pay provide even greater ease of use in urban Swiss cities (BUT be aware of potential fees here).

When it comes to transportation, the Swiss Travel Pass offers excellent value for money.

By balancing the methods discussed in this blog, and factor in your own circumstances, you can make the most of your budget and enjoy all Switzerland has to offer.

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