In this article, we’re exploring the main currency of Switzerland. We’ll share details on the Swiss monetary unit and the currency of Switzerland and answer common questions we receive from people exploring this topic.
This article is part of our free series on Switzerland’s official currency. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Swiss banking also discusses the largest banks in Switzerland, Switzerland’s opening requirements, the costs of banking in Switzerland, and much more. Use the link above to start exploring all of your free Swiss banking content right now.
Alternatively, use the table of contents to continue exploring more information on the main currency of Switzerland.
Table of Contents
- What is the Main Currency of Switzerland?
- Frequently Asked Swiss Banking Questions
- Do You Want to Open a Switzerland Bank Account?
What Is the Main Currency of Switzerland?
The main currency of Switzerland is the Swiss Franc. Introduced in 1850, the Swiss Franc is denoted by the symbol CHF and is available in both banknotes and coins.
The Swiss National Bank (SNB) is solely responsible for managing and maintaining the currency’s stability through monetary policies. The Swiss Franc is also the legal tender of neighboring Liechtenstein.
Can I Use Foreign Currency In Switzerland?
No, you cannot use foreign currency in Switzerland. The Swiss Franc, while it is the only currency accepted in Switzerland, some establishments do accept euros. Various tourist destinations, including hotels, airports, and tourism operators do accept major currencies. That said, your change will be returned in Swiss Francs.
It’s important to note that when using foreign currencies, you are likely to pay significantly higher exchange rates. We highly recommend exchanging your money as the best currency to use in Switzerland is the Swiss Francs (CHF).
If you are interested in learning more about banking in Switzerland, don’t forget to visit our comprehensive guide on banking in Switzerland, available in the link above.
Alternatively, if you would like to explore all of your offshore banking options, download our free guide and compare Switzerland to some of the top banking jurisdictions available.
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Frequently Asked Swiss Banking Questions
Below are a few of the most common questions we receive from people exploring the main currency of Switzerland. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Is the Most Used Currency in Switzerland?
The most used currency in Switzerland is the Swiss Franc (CHF). The Swiss Franc is the only currency accepted in Switzerland. People are welcome to use foreign credit cards, however, foreign exchange fees likely apply.
What Is the Official Currency of Switzerland?
The official currency of Switzerland is the Swiss Franc (CHF). The Swiss Franc was introduced in 1850 as the legal tender of Switzerland and has been used widely across the country for financial transactions.
How Much Is $1 US in Switzerland?
$1 US in Switzerland is equivalent to approximately 0.88 Swiss Francs (CHF) in Switzerland. It’s important to note that the exchange rates vary and you need to use a reliable currency converter for the most up-to-date rates.
Do You Want to Open a Switzerland Bank Account?
If so, you can access GlobalBanks IQ and start the process of applying in Switzerland in a few clicks.
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+ Plus, get YOUR most pressing bank account opening questions answered by our team!
And “yes!” GlobalBanks IQ helps foreigners and non-resident individuals open bank accounts.
In fact, GlobalBanks IQ even helps non-resident, foreign & offshore entities open bank accounts.
To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!
