Does Switzerland Use the Euro? [Banking in Switzerland]

If you’re planning an upcoming trip to Switzerland, you might be wondering does Switzerland use the euro. The short answer is no.

But, that doesn’t mean you can’t use the euro while traveling through Switzerland. We’ll share your options below.

That said, if you’re a frequent traveler to Europe, you may want to consider opening a euro IBAN account – use this free guide to start the process right now.

Feel free to use the table of contents to jump ahead to the sections most relevant to you.

Table of Contents

  1. Does Switzerland Use the Euro?
  2. Frequently Asked Questions
  3. Ready to Explore Your Options?

Does Switzerland Use the Euro?

No, Switzerland does not use the euro. However, most major retailers, hotels, restaurants, and shops will accept euros as payment. Importantly, when paying in euros, customers will receive change in Swiss franc (CHF), the local currency. 

Not surprisingly, it usually makes sense to convert funds from euro to Swiss franc at a licensed money exchange. Alternatively, you may want to consider using a foreign credit card with no foreign transaction fees.

On the other hand, if you are a frequent traveler to Europe, you could also consider opening a bank account. That way, you won’t need to wonder does Switzerland use the euro since your accounts will already be domiciled locally. There are non-resident options in both the European Union and Switzerland that you can access, even before you arrive in person.

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What Currency Does Switzerland Use?

As mentioned, Switzerland uses the Swiss franc, which is abbreviated as CHF. So, technically speaking, Switzerland does not use the euro. With this in mind, in order to get the best possible exchange rate on purchases, it is often necessary to change money before traveling or through a licensed money exchange.

That said, there are a number of other options available as well. These include digital platforms that provide access to a wide range of international currencies and payment cards with preferential (or no) foreign transaction fees.

Swiss Franc Exchange Rate

The Swiss franc exchange rate has remained strong against many international currencies. A driving factor for this is the strength of the Swiss economy and being backed by reserve assets like gold.

As a result, many individuals feel that the Swiss franc is a stable currency compared to other international stores of value. Of course, opening a Swiss bank account is another excellent way to protect the long-term value of your assets.

With this in mind, if you’re interested in learning how to open a bank account in Switzerland to access the Swiss banking system and Swiss franc accounts, you can visit GlobalBanks IQ from the menu above.

Frequently Asked Questions

Below are two of the most common questions that we receive from people wondering if Switzerland uses the Euro. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.

Are Euro Accepted in Switzerland?

Yes, euros are accepted in Switzerland. However, when making a purchase, customers will receive any resulting change in Swiss francs, the local currency. Additionally, many retailers list the price in Swiss francs and euros so customers can easily compare the price to a currency they are familiar with.

Are US Dollars Accepted in Switzerland?

No, US dollars are not accepted in Switzerland. Instead, individuals with US dollars will need to convert their funds either prior to arriving or through a licensed money exchange.

Ready to Explore Your Options?

If you would like assistance navigating your banking options at home or abroad, we can help.

You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.

But, if you want a 100% personalized account opening service that taps into our team’s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.

Of course, if you have any questions, please contact us directly.

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