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Buying CHF in Switzerland with USD

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First off, this is a great forum with lots of useful information for travelers like me. Thanks to all contributors !

I have read on numerous websites, that using an ATM card from a US bank (e.g. Bank of America) to withdraw CHF from an ATM machine in Switzerland, e.g. Zurich offers the best exchange rate. This is better than the rate offered by a currency exchange company in the US, e.g. Travelex or from a bank in the United States. Please name some banks whose ATMs offer these great conversion rates.

However, all my US ATM cards charge a 2% (VISA) or 3% (Mastercard) foreign transaction fee for using them at ATMs in Europe. Is the exchange rate at local ATMs in Europe so much better (than at banks in the US) that it covers up for the 2 or 3% foreign transaction fee ?

Another option that avoids the foreign transaction fee is to carry USD in cash and take it to a local bank e.g. Credit Suisse in Zurich and buy CHF. Do you know if their exchange rate is the same as what is offered by ATMs ?

thanks !
sushshants

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