USD business account checklist for Swiss companies

Many companies start using US dollars (USD) before they think of it as a dedicated payment issue. They may pay US suppliers, invoice clients in dollars or hold USD before converting it to Swiss francs (CHF).

The challenge is that the overall costs and timings are not always visible. Transfer fees, intermediary charges, conversion spreads and payment delays can all affect the final amount received or paid.

A USD business account can help you manage these transactions more efficiently, but you should review it as part of your overall payment setup.

1. Are you in one of these situations?

A USD business account may be worth considering if your business:

If any of the above apply to you, it may be worth reviewing whether a USD business account could improve your payments, collections and currency conversions.

2. Which USD flows do you need to manage?

Start by identifying what your company needs to do in USD. For example:

The right setup will depend on how often these situations apply. A company that only sends occasional USD payments will not have the same requirements as a business that regularly invoices clients and manages ongoing USD balances.

3. Where are transfer or wire fees currently applied?

International USD payments may incur transfer fees, wire fees and intermediary charges. While these costs might seem small for a single payment, they can become significant if your company regularly sends or receives USD.

Review:

With a SwissFx local USD account, businesses can avoid many of the transfer, wire and intermediary fees commonly associated with international USD payments by receiving and sending USD through local banking rails.

4. Which exchange rate will be applied when converting USD/CHF?

The account itself is only one factor in the decision-making process. The exchange rate applied to USD/CHF conversions can have a significant impact, particularly if payments are frequent or the amounts involved are substantial.

Check:

It is not only a question of “Can I hold USD?”, but also “How, when, and at what rate will USD be converted?”

Check the current USD/CHF exchange rate

Use our USD/CHF calculator to estimate a conversion before making or receiving a payment. The final rate available to your business may depend on the amount, timing and execution conditions.

Send

CHF

Receive

EUR

You could save up to*

EUR

*Currency rates used are indicative based on the mid-market rate with example spreads used to demonstrate the difference between an average for Swiss banks vs one typically offered by SwissFx.

This is for informational purposes only and you may get a different rate when exchanging money.

Please contact us for an exact price.

Send

CHF

Receive

EUR

You could save up to*

EUR

*Currency rates used are indicative based on the mid-market rate with example spreads used to demonstrate the difference between an average for Swiss banks vs one typically offered by SwissFx.

This is for informational purposes only and you may get a different rate when exchanging money.

Please contact us for an exact price.

Send

CHF

Receive

EUR

You could save up to*

EUR

*Currency rates used are indicative based on the mid-market rate with example spreads used to demonstrate the difference between an average for Swiss banks vs one typically offered by SwissFx.

This is for informational purposes only and you may get a different rate when exchanging money.

Please contact us for an exact price.

5. Does your setup create friction for clients, suppliers or partners?

Once you have reviewed your own fees and conversion costs, consider the payment experience from the perspective of the companies you work with.

For example, a US client may face additional fees when sending USD to a Swiss IBAN. Suppliers may also incur costs if a payment arrives via an international route or requires conversion before it can be used.

Determine:

6. Does the account fit into your existing payment operations?

A USD account should make payment management easier, not create another standalone account to monitor.

Check how it will fit with your banking, accounting and payment processes. 

With SwissFx’s multi-currency account, payments, collections and currency exchange can be managed from a single platform.

7. Are you exposed to USD/CHF movements?

Although a USD business account can help organise payments and collections, it does not eliminate currency exposure.

If your company invoices, pays suppliers or budgets future costs in USD, exchange-rate movements could impact profit margins, pricing and cash-flow planning.

Companies with recurring or significant USD exposure may need to review their approach to managing timing and risk. Depending on the situation, this may involve deciding when to convert funds, holding USD balances, or using FX risk-management tools, such as forward contracts or other currency hedging solutions.

8. What checks and protections apply?

Before opening a business account, it is important to understand the onboarding checks, verification process and security protections that apply.

If you are opening a USD account, make sure you understand:

With SwissFx, the setup process is designed to be completed online, subject to the usual checks and verifications. Client funds are held in segregated accounts with regulated banking partners, and SwissFx operates within the rigorous Swiss financial regulatory framework.

9. Have you checked the wider US trade and customs context?

A USD business account can help you to manage how your company pays, receives and converts US dollars. However, it does not eliminate the need to consider the broader trade, customs and tax implications of conducting business with the US.

If your company imports goods from the US to Switzerland, exports goods from Switzerland to the US or works with US-based suppliers, you should review the relevant customs, VAT and tariff information before changing your payment setup. Useful starting points include the State Secretariat for Economic Affairs - SECO and Switzerland Global Enterprise (S-GE), and U.S. Customs and Border Protection (CBP).