Paying and Money in Switzerland

The official currency of Switzerland is the Swiss Franc (CHF). Credit cards are widely used across the country and are issued by almost every bank as well as many major retailers, making them an essential tool for everyday transactions. However, fees can vary significantly between providers—especially regarding foreign currency exchange rates, transaction fees, and international ATM withdrawal commissions.

While paying by card is seamless, having cash on hand remains very convenient. Cash is still widely appreciated for smaller everyday purchases, such as grabbing a coffee or an ice cream, buying a newspaper, tipping, or paying street musicians. Local currency can easily be exchanged at SBB train station counters, which accept almost all major currencies for a standard flat fee of CHF 5.00.

Switzerland’s payment landscape is increasingly digital.

Nearly everyone in Switzerland uses TWINT, a mobile payment app that allows instant peer-to-peer and merchant transactions directly linked to mobile phone numbers. In addition, many Swiss residents obtain discounted „Reka Money“—typically at a 3% discount—through their employers or retail giants like Coop, making it a popular alternative payment method for leisure, travel, and public transit.

Various regional tourism boards also offer specialized voucher systems for local experiences.

Driven by Switzerland’s famous „Crypto Valley“ region, digital assets are gaining strong momentum as well, with Bitcoin and other cryptocurrencies accepted at an increasing number of businesses.

In the Canton of Glarus, we are working to introduce a regional currency called the Glarner Batzen to foster the local economy, supported by our project website at batzen.net.

However, securing guidance or information from the Swiss National Bank (SNB) remains a challenge—interestingly, the SNB operates as a private joint-stock company, meaning its shares are publicly tradeable.

Looking ahead, cash and physical cards will gradually take a back seat. In the medium term, virtually all daily transactions will be processed effortlessly using mobile apps and contactless NFC technology.