Making currency exchange cheaper and bank transfers easier

08.02.2018 09:11

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money is a new online service offering currency exchange and international bank transfers with rates clearly lower to those of banks. Based on a dynamic creation of IBAN numbers, the service aims at simplifying the life of cross-border workers and Swiss businesses by sparing them important bank fees.’s new service has fully transparent rates (interbank rates + 0.5% margin decreasing down to 0.08% according to volumes) and works without any transfer fee from CHF 1,000 up. Operated by Smart Execution SA, a company born at Geneva’s Fintech Fusion start-up incubator, is qualified by the FINMA as a financial intermediary and is certified by the OAR-G since October 2017.

The new service differentiates itself from its competitors with the dynamic creation of unique IBAN numbers for each recipient its customers wish to send money to. This approach facilitates the exchange and transfer operations of those customers, more precisely for cross-borders workers. Indeed, they will now be able to collect their salary in CHF from their Swiss employer and receive it directly converted into EUR on their home country’s bank account without having to open an account at a Swiss bank. also offers its services to businesses of all sizes working across borders, which also helps them saving significant amounts of money on their currency exchange. For instance, it is possible to pay a foreign supplier by sending CHF to the IBAN provided by, which will take care of exchanging them into the supplier’s currency at the best rate and transferring the amount the same day. On the other hand, it is also possible to get paid by foreign customers by giving them an IBAN provided by instead of the bank’s one, which will reduce the exchange costs of those customers or avoid the company to collect foreign currencies in Switzerland. This system’s benefit is also to be directly usable by a company without having to modify its accounting & financial processes.

To use this service, one simply needs to create an account on and provide the identification documents required by law. The process is currently done manually, but a free smartphone app is in development and will be available soon.

(Press release)

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