Exchange rates, financial fees and charges, withholding taxes

This page describes the factors that affect the amount of OASI/DI benefits paid by the Swiss Compensation Office (SCO).

Image that illustrates the exchange rate

Exchange rate

The benefit amount in Swiss francs is converted at the exchange rate applied by the SCO's financial partner or correspondent banks at the time the payment is made. The SCO has no control over the exchange rate at the time of the transaction.

The Swiss Compensation Office uses the financial services of PostFinance, the BPS (Banca Popolare di Sondrio) and the BPE (Santander Group) to execute its payments.

Currencies are converted using the rate set by PostFinance. The rates applied are based on the Swiss interbank rate.The Banca Popolare di Sondrio and the BPE (Santander Group) use their national interbank rate.


Financial fees and charges

The SCO bears all of the transfer fees and charges that it incurs as the payer: payments are "without fees and charges for the beneficiary".

However, your bank or post office may charge administration fees for processing a payment crediting your account, and these are borne by you.


Italian withholding tax

Since 1 January 1992, all Swiss OASI/DI benefits paid in Italy are subject to a compulsory tax deduction of 5%, withheld by Italian financial institutions. This deduction is governed by the Italian law of 30 December 1991 and takes the place of the income tax owed by the beneficiary in respect of the benefit.

Last modification 28.02.2018

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