Validity of German debit card in Switzerland
I have a Deutsche Bank maestro debit card that i got in Germany with no magnetic strip, but a chip. I am traveling to Switzerland next week. Can I make transactions in hotel and restaurants in there with this card? If yes, will the deductions be in Euro or Swiss Franc?
Best Answer
As zeocrash stated, Maestro is accepted pretty much all over the place. In fact, my (Swiss) bank card uses the Maestro system if not used at an ATM of the issuing bank.
The terminals I have seen recently are all alike, and their primary contact with the card is the chip. Most also allow for no-pin transactions up to CHF 40.
You might check the general terms and conditions for your card (should be available from your bank's website), about fees and commissions. The exchange rate when using ATMs or Pay terminals is not that bad (maybe 2 to 3 cents more than the interbank rate).
When exchanging cash, most banks do it, but also train stations. If you are in a place with several banks, and you have time, you might shop around, and if it feels good, ask about the commissions. An example: the other day, I exchanged EUR 60 at the train station. The commission was CHF 4, and I got CHF 61.50. The exchange rate was around 1.10 CHF per EUR (which is not too bad at all for cash exchange).
If you are with friends you kind of trust, you might ask them which bank they are client of, and whether they would help you exchange. Most Swiss banks have no commission for their clients. At train stations, holders of a GA (Generalabonnement, national rail pass) will pay no commission.
It has been mentioned several times here, and I only can confirm it: When the ATM offers the transaction in the local currency and your home currency, always go for the local currency. The difference may be considerable.
Many stores and hotels do accept EUR in cash (bills only), but the exchange rate may not be very good, and you will get the change in CHF.
Enjoy your time in Switzerland!
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Answer 2
UPDATE: Now that I am in Switzerland, I wish to give an update. In some shops, and in the hotel I am staying, while paying with the German debit card, it is showing an option of EUR and CHF ( with already converted amount). If I choose the EUR option there, Deutsche bank is not deducting anything extra. BUT in some shops, and the metro ticket booths, only CHF is shown. And when I am doing the transaction, Deutsche bank is converting it to EUR AND then adding 1.5 EUR charge for each conversion. So a 2.3 CHF ticket became 3.55 EUR(@1 EUR=1.12195 CHF). This is a bit inconvenient, but I think I will lose some money anyway during conversion.
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