Switzerland uses the Swiss Franc (CHF), one of the world’s strongest and most stable currencies. Managing money in Switzerland requires understanding the currency, the payment culture, and the specific situations where costs are higher than visitors expect.

The Swiss Franc (CHF)

The Swiss Franc is abbreviated CHF (Confoederatio Helvetica Franc) or Fr. in everyday use. Notes come in denominations of CHF 10, 20, 50, 100, 200, and 1,000; coins in CHF 5, 2, 1, 0.50, 0.20, 0.10, and 0.05.

The CHF is one of the world’s most stable currencies, historically a safe-haven currency that tends to appreciate in times of global financial stress. The exchange rate against major currencies has been relatively stable over time; CHF 1 is approximately equivalent to EUR 1.02 to 1.05.

Payment Methods

Switzerland is a predominantly card-based society for transactions above approximately CHF 20. Visa and Mastercard are accepted at virtually all restaurants, hotels, shops, and transport ticket offices. American Express has somewhat more limited acceptance. Contactless payment (cards and mobile devices) is universal at established businesses.

Cash is still necessary for: some bakeries and small street stalls; mountain huts and alpine restaurants; very small village businesses; some car parking machines; and informal purchases (markets, small craft stalls). Carrying CHF 100 to 200 in cash at all times covers most situations where cards are not accepted.

ATMs (Bancomats)

ATMs (called Bancomats in Switzerland) are widely available throughout Swiss cities and towns. The major Swiss banks (UBS, Credit Suisse until its acquisition by UBS, Raiffeisen, PostFinance) all operate ATM networks. International cards (Visa, Mastercard) work at all standard ATMs.

Withdrawal limits are typically CHF 1,000 per transaction; some machines allow higher amounts. International withdrawal fees apply (typically CHF 5 to 8 per transaction from Swiss ATMs, plus any fees from your home bank). Cards with no international withdrawal fees (Revolut, Wise, Charles Schwab for US holders) eliminate or significantly reduce these costs.

Euro in Switzerland: Accepted but Expensive

Switzerland is not in the eurozone, but the Euro is widely accepted at tourist establishments, hotels, and border-area businesses. The exchange rate applied when paying in Euro is never favourable: expect to receive a rate of approximately EUR 1.00 = CHF 0.88 to 0.92 (the actual rate at time of writing is closer to 1.02), effectively paying a 10 to 15 percent premium for the convenience.

Always pay in CHF rather than Euro when given the choice; this is the single most consistent money-saving practice in Switzerland. Similarly, when offered “dynamic currency conversion” on a card payment (paying in your home currency rather than CHF), always decline: the rate applied is the worst possible exchange rate.

Tipping Culture

Tipping in Switzerland is not obligatory but is standard practice at a level of 5 to 10 percent at restaurants for good service. Unlike in North America, a 20 percent tip is not expected and would be unusual. The typical Swiss approach: round up the bill to the nearest franc or two on small bills; add 5 to 10 percent on larger restaurant meals if service has been good.

Service charge is occasionally already included (service compris); check the bill before adding a tip if the total seems unexpectedly high.

Written by Laura Meier from Zürich, based on nearly a decade of Swiss residence and ongoing direct experience of the places, trails, trains, and bureaucratic processes described. Updated regularly as prices and conditions change — corrections and updates welcome at contact@allaboutswiss.com.