Money in Switzerland

The franc

The currency is the Swiss franc, written CHF or Fr. One franc is 100 Rappen (or centimes, or centesimi, depending which language region you are standing in).

Coins: 5, 10 and 20 Rappen, then ½, 1, 2 and 5 francs. Notes: 10, 20, 50, 100, 200 and 1000 francs.

Two practical notes. The 1000-franc note exists and is in normal circulation, which startles visitors — it is one of the highest-value banknotes in the world. And five-Rappen coins are refused by most machines, along with notes, so they accumulate uselessly in pockets.

Cards

Cards work almost everywhere: restaurants, supermarkets, ticket machines, mountain railways, museums. Contactless is universal and Apple and Google Pay are widely accepted.

Where cards do not work:

• Parking meters — many still take coins only. This is the single most common reason a visitor needs cash.
• Tips, which are often better left in coins.
• Small shops and market stalls, some of which have a minimum of around ten francs.
• Mountain huts above the lift network, where there may be no signal at all.

Carry twenty or thirty francs in coins and small notes and you will not be caught out.

Should you change money?

Generally, no. Pay by card and let your bank do the conversion, or use a multi-currency card if yours charges badly.

If you do want cash, take it from an ATM in Switzerland rather than changing notes at home — the rate is better. Always choose to be charged in francs, not in your home currency, when the machine offers: dynamic currency conversion is a poor deal every time.

Are euros accepted?

Often, and at a bad rate. Many shops, restaurants and stations in tourist areas take euro notes — not coins — and give change in francs at a rate set in their favour. Airport duty-free takes euros as standard.

Dollars and pounds are not accepted anywhere. Liechtenstein uses the franc and also takes euros.

Tipping

Service is included by law and prices are final — the figure on the menu is the figure you pay. Tipping is therefore optional and modest: rounding up, or five to ten per cent for something genuinely good.

Nobody will chase you down the street. Nobody is being underpaid on the assumption that you will make up the difference.

Tax-free shopping

Visitors resident outside Switzerland can reclaim the VAT on purchases taken out of the country. The standard rate is 8.1% — one of the lowest in Europe, which is part of why the tax-free scheme matters less here than in the EU.

How it works:

1. Spend at least 300 francs in one shop on one day, on one receipt. Ten receipts of thirty francs do not count.
2. Ask the shop for a tax-free form and show your passport. Look for the Tax Free sign, though many shops without one will still issue the form if asked.
3. Get the form stamped by customs as you leave the country — at the airport, or at the road or rail border.
4. Claim the refund at a refund desk in the airport, or post the stamped form.

The refund agent takes a commission, so you get back roughly five per cent rather than the full 8.1. On a 1000-franc purchase that is around fifty francs — worth doing, not worth reorganising a trip around.

One trap. Some watch and jewellery shops let you pay the net price on the spot, on the understanding that you post back the customs-stamped form. If the form never arrives, they charge the VAT to your card afterwards. Get the stamp.

What things cost

Switzerland is expensive, and the shape of it surprises people: museums are moderate, and everyday things are roughly double what they cost in Berlin or Paris. A coffee, a beer, a plain lunch.

What actually helps:

• Supermarkets. Coop and Migros do good hot and cold food to take away, and the branches inside main stations open late and on Sundays when almost everything else is shut.
• Tap water. Excellent everywhere, free from the public fountains that run continuously in nearly every town. Carry a bottle and refill it.
• Lunch menus. The same kitchen that is painful at dinner serves a fixed lunch at a fraction of the price.
• The border. In Geneva and Basel, locals cross into France and Germany to do their shopping, and the difference is dramatic.

See also customs allowances before bringing that shopping back.