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 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.


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. Revolut is a complete pain and i dont recommend it to anyone. You deal with robots and wait weeks before you get an unsatisfactory answer by a human. After having used it for a month they blocked my account and asked me to proof my source of fund despite my transfered money came from a regulated european bank. For a relatively small sum they asked me tax documents, wage statements, bank account statements etc. This very personal data i not share with my mother and certainly not with a russian start up company who outsources compliance work to poland or even worse. It seems they want just our data and thats wh its so cheap. Other credit cards do trust european bank and their compliance and dont ask for so crazy personal details for such low amounts. I think revolut is a scam and dont trust them anymore. I still wait for my money!!!!!!

    1. Hi Mark,

      Sorry to hear about your experience. It’s true that everybody agrees that when you have to deal with the support, it is really bad at Revolut.

      I hope you will get this situation unblocked!

  2. Dear Mr The Poor Swiss,
    what do you think about the “brexit” ?
    At present I have 2 bank account, EUR and CHF on Revolut.
    Some days ago I received an email from Revolut support where advice me that on 31 January 2020, they will open a GPB account and close other :(
    Have you some news about that ?


    1. Hi Maurizio,

      I do not think anything of the Brexit, except that it has been going on for way too long and I just want to see it done!

      If you are a UK citizen, it makes sense. Revolut has been increasingly working towards people having only one account, from their country.
      Which is a pain in the ass if you work in another county than your citizenship.

      If you are not a UK citizen, then that’s really weird :(

      Thanks for stopping by!

        1. Hi Maurizio,

          Sorry, but I am not sure I understand your question. I do not have a GBP account on Revolut. So I did not receive an email regarding such account.

          Hopefully, this answers your question.

          Thanks for stopping by!

  3. Hello,
    Am I the only one who tried to top up with my cumulus MasterCard and had 0 chf of commission ? I’ve done it 5or 6 times. I didn’t use to do it because there used to be a high commission but I tried by mistake and it seems that it’s free :)

    1. Hi Flora,

      You are right, they changed it! If you have a card issued in Switzerland like the one from Migros, it is now free! This is what I am doing most of the time now.
      I have updated the article a few weeks ago to add this to it :)
      It’s really practical.

      Thanks for stopping by!

    2. Hi

      I have a PostFinance account in CHF and USD.
      Can I send through my account some CHF to revolut, change them into USD, and send them back to my PostFinance USD account without any fee?


      1. Hi Bob,

        If Revolut lets you send USD to a CH IBAN, that should be fine. And looking at the app, it looks you can do a USD transfer to a CH IBAN. But I have never tested that.

  4. Hi There,

    I’m a new user with Revolut, i tried to top up by making bank transfer, unfortunately i didn’t put my reference number (i did put my name) and when i realized that the money had been deducted from my bank account. I can’t find any tel number to contact Revolut for help, hence had to come through here. Is there any way that I can contact Revolut to retrive the money? The money has gone since 3 days…
    Thank you for your advice

    1. Hi christmastime,

      Sorry about that, it’s always worrying to have the money lost in between. I would not worry too much if I were you. Revolut is not always very fast. I would give them at least a full week before I would worry.
      Passed that time, I would contact them using the in-app chat.

      I hope this gets resolved quickly!

  5. Hi there!
    1-Do you know if Revolut can be used as a paiement method for the AppleID account? I am struggling to get a quick access to a credit card since I just arrived in Switzerland and have not received my Swiss residency permit yet…. Thought I could use Revolut in the mean time???
    2-What will I lose or gain by changing my French Revolut account (mailing address) into a Swiss one? They mentioned something about insurance???

    1. Hi Dodinedev,

      1) I do not know about Apple ID. But I know that Revolut can now be used for Apple Pay.
      I am not sure you can get a Swiss Revolut account without a residency permit, but you can give it a try.
      2) I have no idea about which insurance they talk about. Money in Revolut is generally not insured. If you have a Metal Revolut account, you will have some insurance indeed. But I would think that it would not change from France to Switzerland. You will gain access to the Swiss IBAN for loading your account. But that’s about it. There is not much difference between Revolut in different countries. But I have never done this myself, so I am not really sure.

      I hope this helps a bit.

  6. Unfortunately it doesn’t work anymore, they removed the Swiss Iban, at least for non resident, which mean it become useless for cross border workers.
    For now I don’t have much need for it, except for transferring USD which is still working.

    I hope they will enable Swiss Iban again.

    1. Hi Buluk,

      Unfortunately, you are not the only one in that case. They have cut the Swiss IBAN from anybody that is not a Swiss resident. I still have it since I leave in Switzerland, but many people have lost it.
      I guess that they were losing money on the transfers.

      Hopefully, they will improve that in the future. We’ll see!

  7. Hi,

    Can anyone confirm this CS chf account IBAN “CH37 0483 5284 2385 2300 0” is Revolut, did anyone try it and got the money, how long did it take?
    How does Revolut know to which card or account they should credit the money?
    Being a electronic bank i doubt they will check the comments in the reason for payment, assuming CS send that to them…

    1. Hi Aviv,

      This is the IBAN I have been using since they released it. It’s working fine. From my bank (Migros), it takes one working day to get the money into Revolut.

      You need to enter the Reference that is shown in the app (this is an 8 digit number). The Reference (comment for the beneficiary) is definitely passed along with the payment. It’s not a person doing the check, but an automated process ;)

      I hope that helps you :)

  8. Hi, sorry for bothering… Just would appreciate your advice. Have signed up to Revolut. I am a British national, working in Geneva and living in France. I have immediately got two bank accounts (EU and GB). For a CH bank account I’ve got a GB IBAN. How can I get a CH IBAN??? I searched everywhere but found no reply. :-( Thanks for help
    PS. Love your blog though! Thanks for investing into us.

    1. Hi Andrea,

      Unfortunately, Revolut stopped offering CH IBAN to people that are not living in Switzerland. You need an account with an address in Switzerland for this to be available right now. That really sucks.

      You want your salary to be sent to Revolut to be transferred cheap to your France bank account?

      Thanks for stopping by and for the kind words :)

  9. Hello, I cannot find the answer for my (particular) case so I am just going to try my luck here :)
    I am living in Switzerland and I have a Postfinance account in CH and EUR (both IBAN begin with CH!). I would like to open a Revolut account and transfer my swiss money to that new Revolut account. How much would it cost me to transfer money from CH account to Revolut? I still don’t get it if Revolut offers a CHF account or not together with GBP account and EUR iban? Maybe I should only use my swiss EUR account and transfer money to Revolut EUR iban? But they will transfer it using the SWIFT and not SEPA right? Hope this is not too confusing… Help! :)

    1. Hi Gia,

      If you transfer CHF from your CH bank account to Revolut it is going to be entirely free :)
      Now, you need to have a CH IBAN in Revolut. If you are living in Switzerland and said as much in Revolut, you should have one without issue. Go to Revolut, then Add Money, Bank Transfer and you should see a CH IBAN under Local. If you use this CH IBAN with the correct reference number, you will be able to top up Revolut for free :)

      I hope that helps!

      Thanks for stopping by!

  10. Swiss IBAN now blocked for non-Swiss residents (eg cross-border workers). This is very disappointing!

    1. Hi Marvin,

      Yes, I have heard about that, it does suck!

      Does anybody know why? Just for costs? Or maybe for a legal reason?

      Thanks for stopping by and good luck finding an alternative!

      1. I would be very interested to learn about an alternative. This will badly hit the cross-border workers. In another post, you mentioned that you used to combine Transferwise and Revolut? How so exactly?

        1. Hi Hadrien,

          I used Transferwise at the beginning when it was not possible to transfer money for free in Revolut. It is basically the same as Revolut with some extra fees. But you could try to use it to get your Swiss money and transfer it into EUR. You will have to pay 0.3% on your transactions though.

          Good luck!

Leave a Reply

Your comment may not appear instantly since it has to go through moderation. Your email address will not be published. Required fields are marked *