Which Credit Cards Are Accepted in Switzerland?

Knowing which credit cards are accepted in Switzerland is essential for business and leisure travellers. Though tourists and foreign business people will find that Switzerland is a modern country that accepts most credit cards, it’s still important to research your options to minimise cross-border fees.

Switzerland is a dynamic country at the cutting edge of modern financial and business practices. However, it also has some singularities that are worth knowing before travelling, setting up a business, or going there on a business trip.

Credit Card Brands Accepted in Switzerland

International credit cards like Mastercard, Visa, and American Express are almost universally accepted in Switzerland. Local cards issued by Swiss banks are also commonly used and accepted. You will need cash for purchases in markets and in rural places where merchants may not accept credit cards. Having cash on hand is also useful for paying for inexpensive items like lockers and the use of public toilets.

A 2022 survey revealed that 76% of the Swiss population owned a credit card (page 2 of the linked PDF). Credit cards are very convenient. However, if you’re a tourist or on a business trip, find out beforehand how much you’ll pay in fees for credit card payments in Switzerland. Remember that withdrawing cash will also be subject to fees and a varying currency exchange rate.

Debit Cards in Switzerland

Debit cards are the main payment method in Switzerland, surpassing credit cards and cash in popularity. 33% of transactions in Switzerland were carried out with a debit card in 2022. The main advantage of using a debit card in Switzerland is that cash withdrawals are cheaper with a debit card than a credit card. Visitors can also make contactless payments of up to CHF 80 without entering their PIN code.

Accept a Range of Payment Methods in Switzerland

Entrepreneurs who plan to set up a business in Switzerland will maximise their opportunities for making sales by accepting the most widely used credit and debit cards as well as alternative payment methods like Twint. Businesses can accept local, international, and foreign credit and debit cards with an integrated global payment gateway and a merchant services account.

Working with a reputable payment processor with expertise in international companies will enable you to open up your business to domestic and international trade. Dealing with multiple currencies and payment methods is essential for an efficient, dynamic, and modern business.

Foreign Transaction Fees and Rates

Research the costs involved in using your foreign credit card in Switzerland. This includes making cash withdrawals, which can incur cash withdrawal fees or cash advance fees. Some credit cards may offer attractive perks for frequent travellers. These include things like free travel insurance and rewards points.

Credit cards can also incur high charges when used abroad. These include:

• Transaction fees for international purchases
• High exchange rates
• High cash withdrawal fees

Expect to pay 1-3% in charges every time you use a foreign credit card in Switzerland. There are some exceptions. For example, some credit cards are designed with travellers in mind and waive currency conversion fees.

Is It Worth Opening Up a Bank Account in Switzerland?

Frequent visitors or workers in Switzerland who meet the eligibility criteria may benefit from setting up a bank account. Several banks in Switzerland for foreigners don’t require you to be a resident to open an account.

Instances in Which You Will Need Cash

There may be instances in which you will need cash in Switzerland, even if it’s only for nominal amounts. These include:

• Paying for items at farmers’ markets
• Coins for shopping trolleys, toilets, and lockers
• Leaving tips (Tipping isn’t obligatory in Switzerland, but some patrons choose to leave a cash tip to recognise good service.)

Is It Cheaper to Make Cash Withdrawals or Use Currency Exchange Desks?

It will probably be cheaper to make cash withdrawals from your own bank account than going to an exchange desk. Check the currency exchange rates and any added fees in both instances to decide which offers the best deal. Withdraw cash from an ATM within your card network (if possible) to get the best rates.

Is It Worth Using a Prepaid Card in Switzerland?

It’s not generally worth using prepaid cards in Switzerland. Prepaid cards are cards loaded with a certain amount of money which can then be spent at will. You don’t need a bank account to buy and load some prepaid cards.

The main advantage of prepaid cards is that they give you access to a card without opening a line of credit. This can be especially advantageous for young people.

However, using your credit card will typically offer more favourable conditions. This is because:

• Prepaid cards often have annual card fees.
• Loading your prepaid card will typically incur a fee.
• Cash withdrawal fees with a prepaid card can also be high.

Tips for Using Credit Cards in Switzerland

It may not be worth making changes to your habitual payment methods for a one-off trip to Switzerland. However, if regular business trips to Switzerland are on the horizon, find out which credit cards offer the best rates.

Keep the following in mind when visiting Switzerland:

• Many establishments have contactless capabilities allowing you to “tap and go” with your credit card. However, a PIN is often required for transactions over CHF 80.
• If your credit card uses a foreign currency, you will be given the option to process the transaction in CHF or your own currency. Choosing CHF will likely offer you a more favourable exchange rate.
• Your current credit card provider may not be giving you the best deal. Check which fees are involved for international transactions and cash withdrawals. Some banks charge fees of around 3%, so anything lower than that could be a good deal.
• Don’t use credit cards for cash withdrawals as the fees are high. Use a debit card instead.

Be Ready with Cards and Cash in Switzerland

Switzerland is an innovative, modern, and dynamic country that accepts the most well-known international credit card brands. However, visitors should be prepared to adapt to Switzerland’s unique payment landscape while in the country.

Travel with at least some cash and find out which payment methods offer the best rates before you go. This is especially true for professionals and entrepreneurs who foresee regular business trips to Switzerland.