Revolut in Switzerland – Free Top Up with Swiss IBAN

By Baptiste Wicht | Updated: | Save

(Disclosure: Some of the links below may be affiliate links)

In the early days of Revolut, the biggest problem with this service was that they did not have a Swiss IBAN. Some good news just arrived for us!

Revolut now includes a Swiss IBAN when you want to top it up! It means you can now top up your Revolut account for free directly from your bank account. It is great since that was missing from the start on the Revolut account.

And probably even bigger news for Revolut: they got a European Specialised Bank License! It is a big deal for the company. Revolut is now officially a bank and will soon start offering new services. But for us, it will not change much in the short term.

I have been using Revolut for about two years now. During that time, I saved a lot of money by using their free currency exchange services. I am curious to see how they will implement this banking license in the future.

In this article, we will see what these changes mean for other Revolut customers and me! If you do not know about Revolut, stay tuned!



Revolut offers a credit card without any fees for currency exchange.

  • Great fees

Revolut is a kind of digital bank alternative. It is not yet a bank. But you can store money in any currency on your account. In theory, you could even use it to deposit your salary into it. But since they are not a bank, you have fewer guarantees on it.

The most significant advantage of the Revolut account is that you can convert currencies for free! This is only free for the first 1250 CHF converted per month. But this should be enough for most people.

Most credit cards will charge a hefty fee to convert currencies. For instance, my previous credit card charges me 1.5% to do a foreign currency transaction. It is the main reason why I started using Revolut.

I have already saved quite some money with Revolut, and all of it is for free! Now I only use Revolut for my expenses in foreign currencies. I have been using it for almost six months, and I am pleased about it!

To learn more about Revolut, read my full article about Revolut.

Revolut Swiss IBAN

If you want to transfer money to your Revolut account, there are several ways:

  1. Use a Debit Card (free)
  2. Use a Swiss Credit Card (free)
  3. Use another Credit Card (not free)
  4. Transfer to a bank account (free)

The most convenient method is to transfer money from your bank account to Revolut IBAN for most people. The main issue with Revolut before was that they did not have any Swiss IBAN. They had an IBAN from the UK on which you could pay with CHF. However, every time you transferred money, you needed to pay a small fee because Swiss banks do not provide free transfers to IBAN outside of Switzerland, even if it is in CHF.

In the beginning, I was using a Wise account to make the transfer for free. I was transferring money to my Wise account from my bank. And from there, I transferred money to my Revolut account. It was working quite well and was free. However, that means I had an account I did not use and a card I only used for some transfers. Having fewer accounts would help me simplify my routines!

Now, Revolut just got a CHF IBAN from Credit Suisse! With this, we can transfer money directly into our Revolut account with a single bank transfer. And the transfers are entirely free! You can transfer as much money as you want without any fees! It is great news.

That means I do not need to use Wise anymore for now. It will significantly simplify my money management!

If you prefer, you can also directly use your main credit card to top up your Revolut credit card. It means you can also use credit for card Revolut. It is another great way to top up Revolut for free! But this will only work for credit cards issued in your own country. And only Revolut and Visa are currently supported by Revolut.

Transfer Money for free to Revolut

To find the new Swiss IBAN, you can go into your Revolut application and click on the Add Money button. Then, choose Bank Transfer, and Revolut will give you all the information you need to make the bank transfer:

Revolut Swiss IBAN
Revolut Swiss IBAN

With all this information, you can initiate a bank transfer from your bank account to Revolut Swiss IBAN. Do not forget to include your reference number. Otherwise, Revolut will have no way of identifying you, and the money will be returned to you later on.

Once you have done your transfer, it will generally take one working day for the money to be available in your account. Most Swiss banks are pretty slow for that. If you have another bank, this may go faster.

Depending on your account, you may need to enter more information than just your reference number. For instance, you may need to enter your name and your country into the reference information.

Banking License

Until now, Revolut was not a bank but merely a digital banking alternative. These two have quite a few differences. For instance, Revolut could not offer you credit options, and your money at Revolut was not insured.

However, this will soon change! Indeed, in December 2018, Revolut got a Specialized Bank License from the European Central Bank. They used the Bank of Lithuania as a facilitator in the proceedings. They are not yet a full-range bank since they only got a Specialized Bank License. For instance, they cannot provide any investment services.

Revolut plans to start offering bank account to smaller countries such as Lithuania and then move on to broader European markets such as France and Germany. It is going to be a while before they move to Switzerland.  They are also trying to get a banking license in Russia.

Nevertheless, this is excellent news and will soon benefit the users of Revolut. The most significant advantage will be that soon, money deposited on a Revolut account will be insured up to 100’000 EUR. The European Deposit Insurance Scheme (EDIS) guarantees this amount for each European bank account.

Another advantage, but less appealing, in my opinion, is that they can offer you personal loans. You can also go negative in your bank account. It was not possible before. I do not think it is an excellent thing since you should not go negative anyway. But it remains to be seen how much interest they will bill on these loans.

For now, nothing changed. Just because Revolut got a banking license does not alter their Revolut accounts. It means that for now, the money in your Revolut is not insured yet! It is important for the safety of your money. I personally never keep more than 1000 CHF on my Revolut account.

They are going to start with this new license in Lithuania for now. But then, they plan to extend in the other European countries. We probably will not see any change in Switzerland for a few years. But eventually, it will come!

Overall, I believe this is excellent news for Revolut and its customers.



Revolut offers a credit card without any fees for currency exchange.

  • Great fees

All this is great for both Revolut and its customers in Switzerland. With this new Swiss IBAN, Swiss people can transfer money to Revolut for free.

For Swiss investors, that means that it will not be necessary to use Wise as an intermediary to transfer money for free to our Revolut account. It will simplify my money management routines. And it will also simplify my net worth routine since this means one less account. I am always interested in simplifications!

This news makes Revolut more interesting for users in Switzerland.

If you need more than 1250 CHF per month, you may want to consider alternatives. Wise is an excellent alternative to Revolut for large amounts.

Now, if you want something simpler and local, you can also look at Neon Bank.  They also offer purchases in foreign currencies for free. And they are a local Swiss bank. So you should not have to go to any trouble with them.

What do you think about this news? Do you already use Revolut? Did you try the new Swiss IBAN?

Baptiste Wicht is the author behind In 2017, he realized that he was falling into the trap of lifestyle inflation. He decided to cut on his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence. You can send Mr. The Poor Swiss a message here.

104 thoughts on “Revolut in Switzerland – Free Top Up with Swiss IBAN”

  1. Dear all
    1.) Receiving CHF money from abroad to my Revolut account lands on the GB IBAN in CHF. Since CH IBAN only available for domestic transfers.
    2.) Instant transfers from my REVOLUT account to a friends REVOLUT account is free of charge. According to the website.
    So instead of me, using my REVOLUT account and transfer then the CHF to my friends bank account in Switzerland, which generates SWIFT transaction cost, I could just transfer the money to him by REVOLUT to REVOLUT and then he can send the money to his Swiss bank account (CH IBAN to CHF bank account) free of charge for him?
    Means the Swift cost (my Revolut account to my friends bank account) is avoided?
    Also, what I further do not understand: Where is the money stored in general at Revolut? If a payment is received on my revolut APP (sent to the GB IBAN in CHF), is the money still on the GB IBAN account or is it “in the APP only”. Means if I transfer money to a friends bank account who is also in Switzerland, can I use then domestic transfer, because Revolut has a CHF IBAN in Switzerland or do I need to use SWIFT international, because the money is still in UK under the GB IBAN (which generates cost)?
    Sorry, it’s a bit complicated, but I still hope you understand.

    1. Hi Lisa,

      1) That’s a good point, you can’t easily receive CHF except from yourself.
      2) Yes, any transfer from Revolut to Revolut, not going through a bank account should be free.

      I think this would work, transfer through Revolut, and then he transfers to his bank account directly. Could you transfer to his bank account directly?

      That’s a good question and I don’t know :) It’s probably in Revolut only. For them, the total balance did not change. They are still supposed to thave this money somewhere and they are accounting for where it is by keeping balances for everybody. Companies like Revolut do not have a bank account per user, they have multiple bank accounts, keeping total balances and local balances in their accounting only.

  2. Hello,

    I normally transfer funds like you with my Migros Cumulus card, now I’d like to transfer from my bank account.
    Something missing from your screenshot above is the Reference, which Revolut states that we must use the reference or the transfer will not go through. My bank Raiffeisen states that the reference must be preceded with “RF” and followed by 23 numbers or letters which is not the case.
    Also I have to supply the beneficiary address which is not supplied.

    I’ve just done a trial transfer with the Reference in the comments and my PLZ and Ort as the beneficiary address.

    Lets see what happens!


    1. Hi Ian,

      I think you are mixing up the reference number from a bill and the “message to beneficiary” in a wire transfer.
      Normally, on Revolut when you press Top Up (or Deposit), you should get a beneficiary address somewhere.

  3. Dear all
    I try it again. Last time looks like the input/question was not published.
    I have a bank account outside of Europe. When I now send abroad exchanged CHFs from the bank account to Revolut – I am not able to use the Swiss IBAN right?
    Must be Swift, since in the APP it is mentioned “for international transfers”. Means I have to send it to the GB IBAN in CHF.
    And from there to another bank account in Switzerland. Means from outside to GB IBAB i have to pay a fee (swift) and from GB IBAN to Swiss Account I have to pay additional fee (swift)? UK is still in SEPA actually.
    Maybe somebody has some knowledge about that.

    1. Hi Tom,

      I would say it depends on your foreign bank. If this bank handles CH IBAN, you should be able to send from foreign to CH.
      You should be able to avoid the second fee. You can do a transfer from your Revolut account in CHF using the CH IBAN of Revolut to your CH swiss bank account, making it a local transfer.

  4. As a Swiss citizen I have the Revolut app now.
    However, does anybody knows the following:

    I have bank account outside of Europe and I would send CHF to the Revolut account. Checking in the APP, LOCAL, “for domestic transfers only”. Means this CH IBAN i would not be able to use to receive money from abroad. Right?

    Therefore, I click on SWIFT, “for cross border transfers only”, so then the IBAN is not as Swiss IBAN anymore, but a GB IBAN in CHF. Is this correct?

    Regarding fees, sending from abroad to the Revolut GB IBAN in CHF will cost something. Now from this GB IBAN, I would send then the CHF to my Raffeisen Account. Since UK is still in the SEPA area, is this then free of charge? Or SEPA is not possible since Swift need to be used (crossborder transfer) in the APP. So it will cost me also something? How much?

    1. Hi Tom,

      Your thinking looks correct indeed. I think the transfer from abroad to the GB IBAN should be free as long as the sending bank does not charge you.
      You don’t have to send it from the GB IBAN. You can convert to CHF and send to a CH IBAN, this will be free and will be a domestic money transfer.

      1. thank you for the feedback! However, the already exchanged into CHF money from the outside of Europe Bank cannot be transferred as CHFs to the Swiss IBAN number, right? It has to be the GB IBAN and from there to the Raffeisen Account.

  5. Hi.
    Perhaps someone here can shed some light on this. I currently reside in Switzerland and have a Revolut card with both CHF and EURO accounts. I am looking for a way to transfer Euros from my PostFinance Euro account to my Revolut Euro account. The problem seems to be that my Revolut Euro account has a GB IBAN. PostFinance wants to add fees for this non-EU transfer ( and convert to pounds! ). Has anyone found a way around this?

    1. Hi Roger,

      It’s actually normal that the Revolut EUR account is a GB account, it should not be a CH account. It’s a bit unfortunate that it’s GB and not another country, because of Brexit, which is probably causing your issue.
      But I don’t know how to do a transfer from PF in EUR, I have never had a EUR account. It should be possible to force the transfer to be EUR.
      You should ask PF support about this.

    2. Hi Roger,

      Are you sure you are not doing transfer from your postFinance CHF account to GB IBAN ?
      or maybe you are choosing SWIFT rather than SEPA or SEPA (International)?

      Do a SEPA (or SEPA (International)) transfer from you Postfinance EUR account to GB IBAN you have in Revolut. I do it regularly and it is ALWAYS free. Money always arrives in Euros.

      Hope this helps.

  6. Hi, I have given the above IBAN for AdSense revenue in CHF. Then I noticed it was only to be used nationally. But they want a bank that is obviously in Switzerland. Other Swiss youtubers are using Revolut. What am I doing wrong?

    Thank you from another poor Swiss. haha.

    1. Hi Sam,

      I am afraid I have never used Adsense. A CH IBAN should be usable in the entire Europe. So, it should work.
      The problem is that the CH IBAN of Revolut is shared, not yours. That’s why you need a reference number for it work.
      You should try with the EUR IBAN, it should be personal.

  7. Good evening,
    I just want to know if I can receive money from Switzerland to my Lithuania IBAN. Switzerland is doesn’t use Euro rather CHF Swiss franc
    And what will I do if not

  8. Hi everyone!

    As I have seen that people are confronting with this (as I did) I am leaving here the solution to PostFinance top-up.

    In Revolut, when you want to add money via Regular transfer you get some (very important) Reference data which is not pretty explicit where you should add it in PostFinance transfer details.

    In PostFinance, when you fill in the transfer data you have the lane Reference/Message/booking text (optional). You leave the Reference field empty and you fill in Notification line 1,2 and 3 for each of the 3 Reference data fields provided in the Revolut app. That’s it. No fees whatsoever(given that this is a local transfer) and it takes around 1 day.

    Happy transfers! :)

  9. I asked the consultant on support chat this question:
    I would like to transfer money from my Swiss account to my Revolut account. When I transfer money to my Revolut IBAN, I pay fees because it is a foreign payment. I also pay an unfavourable exchange rate and the payment takes longer because it is a foreign payment.
    That’s why I researched whether Revolut has a Swiss IBAN. I found this IBAN: CH37 0483 5284 2385 2300 0. Can you confirm that this is Revolut’s Swiss IBAN? If so, however, this is not my personal Revolut account. For this reason, I still need to provide my personal reference number when making the transfer. Where can I find this?

    The answer I got was the following:
    You can only use your IBAN to receive CHF transfer. To check the details of your account go to the home screen → Select the pocket in the desired currency from the drop down menu (arrow pointing down near the balance) → Tap on the flag → Select Local/SWIFT (if needed). You will see all of the relevant details there. For your reference, the bank’s name is Revolut Payments UAB and the address is Konstitucijos ave. 21B, Vilnius, LT-08130, Lithuania. You have to use the IBAN availalbe on your account.

    Does Revolut no longer provide the Swiss IBAN? Can you tell me where to find my personal reference number? Is the support just telling me something that is wrong or am I overlooking something?

    1. Are you a Swiss resident? Revolut only offers a Swiss IBAN to Swiss residents, not to European using CHF. They have unfortunately stopped offering the CH IBAN to non-residents for some reason.

      What the support says seems a bit generic and not exactly tied to CHF. The IBAN you found seems correct, but you can find it in the app with your reference number.
      To get your reference number, go into your CHF Balance, Click Add Money, choose bank transfer and you will have all the information to do a transfer in CHF.

      1. Hey there! I spent almost 2 days researching this so let me shed some light. By the way great blog!


        1. I moved to Switzerland a month ago from Greece and now I own a Swiss bank account
        2. I already had my Revolut account created back in 1/11/2020 when I was in Greece
        3. Yesterday, I tried to “Add money” IN:CHF in Revolut using my Swiss bank’s debit card TO:CHF

        I was charged with “Card processing” fee of 21,61CHF. “Fee breakdown” message was saying
        >>> “we charge a small fee to cover the cost of processing your payment from a commercial or international bank.”

        After reaching out to “Revolut help” and speaking with a Revolut employee for a while I got the following message.

        >>> “Due to Brexit, we had to create a new entity to make sure we ‘re still able to provide you with our services. At the moment, you ‘re under our Revolut Payment UAB entity and, therefore, we can only change the address to countries under the same entity. In this case, Switzerland is under a different entity, so we’re not able to proceed with the address change.”

        I got the message above cos I was trying to change my address from Greece to Switzerland but it also explains the “Fee Breakdown” message mentioned earlier regarding the payment processing fee because payment is coming from an international bank.

        You can find more around entities here:

        The employee continued by saying

        >>> “If you wish, the way to go here would be to close this account, and then open a new one under the new address and the different entity”

        So, not only you are stuck with an entity and cannot move your account to a new entity. You also have to close your existing account, since you can only maintain one account in Revolut, and only after you close it you can create a new Revolut account in an entity that supports Switzerland, that would would be “UK entity – Revolut Ltd” also mentioned here: Of course there is also no way to transfer your assets (crypto, stocks etc)

        The biggest threads I could find discussing this are

        In short, after Brexit, the ones who had a European revolut account are stuck with the Lithuanian (LT) IBAN that only serves without an extra fee the countries of European Economia Area (EEA), that Switzerland doesn’t belong to. That essentially means that any transfer from a swiss bank FROM:CHF TO:CHF will induce an extra fee due to international bank payment.
        The cheapest way I could find to move the money was to do a SEPA bank transfer from my Swiss bank to Revolut, FROM:EURO TO:EURO, and then exchange to CHF from within Revolut. Of course, that meant that the money that left my Swiss bank account in EUR were subtracted from my account as CHF with the exchange rate of the Swiss bank which is really high, alost 1,7% higher than Revolut’s

        PS. I did a Revolut top-up from the same Swiss bank form a friend’s Revolut this time, that he opened the account while in Switzerland and indeed there are no fees. The IBAN started with GB

        1. Hi,

          Thanks a lot for sharing your experience in such a detailed way. This is very valuable and interesting.

          It really sucks that Brexit made so many things so complicated. Many people had similar issues with IB after Brexit when being moved to other entities.

          The fact that Revolut is not able to move accounts from one entity to another is a real shame in my opinion. This should be daoble and would be so much better then destroying and recreating everything…

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