Best exchange options

Neon uses directly the Mastercard exchange rate without any surcharge. In practice, this is about a 0.40% surcharge over the interbank, but there are some variations over time.

It depends on where you want to draw the line between cost savings and complexity. For instance, I would not bother to save 0.3% on small to medium transactions (0.4 -0.1), but I would definitely consider it for large transactions. And when comparing with Yuh (at 0.95%), this may make a significant difference indeed.
Thanks Baptiste for the insight. My problem is that Neon keeps refusing an account. Lenzburger still claims I am tax resident in the US which is not the case. But you cannot reason with them as they don't seem to care. Kaspar& uses the same bank, so I am left with Yapeal.

Yapeal works fine, but was thinking as I anyway need to hold some cash there for all my transactions/payments in EUR which earn no interest, it's more appealing to use Yuh. I can hold EUR at WellBe with a good interest rate if I want to. Once on Yuh I have a okay-ish interest rate with Yuh when I need to do a payment/transaction. Either way, I need money on Yapeal or Yuh before I can make a payment/transaction. Of course, EUR/CHF exchange rate changes so when I make the purchase at a different time than when I exchange I may end up worse or better.
Unfortunately, Swiss banks are really not very welcoming to US citizens :/

I don't know if Yapeal has an extra surcharge or not (they do on international transfers; they may as well on paying abroad).

If you want to save on currency conversion with Yuh, I think it makes sense to use Willbe, indeed. Then, you will have a good place to hold cash and convert it (Willbe) and then a good bank to do your business in Switzerland (yuh).
They are not US friendly and that is understandable, albeit annoying. But I am not a US citizen and also no longer us resident for tax reasons. But that bank just does not understand it.

Yapeal uses visa exchange rate which is pretty similar to Mastercard and they don't charge extra.
Are you sure Mastercard is 40% higher than Visa? Using their calculators it seems VISA is slightly better. Maybe depends on currency as well

yet this one suggest that mastercard is slightly better, but only marginal.

It is neglectable in my eyes for the purchases we typically make. Both of them are noticeably lower than for example the Cumulus Credit card which tries to make you think you don't pay foreign transaction fees
All the studies I have read have concluded that the Mastercard has a better exchange rate than Visa. And 0.4% seems to be the consensus. But I don't have the resources to do the tests myself.

You cannot really use the converter unless you do many measures because you don't have a surcharge but a complex algorithm, so the differences will vary wildly.

That study shows about 40% for instance:

And I completely agree that what Migros is doing with the new Cumulus credit card is shameful. They are outright lying to their customers.
Thanks for the link and good comparisons. I don't want to beat a dead horse here, but it's also fascinating to see various attempts to compare them.

Suggest that VISA is cheaper than MC

Suggest that MC is cheaper than VISA

Suggest that AMEX is cheapest, then VISA and then MC

Suggest MC to be better, but had a good explanation which is also interesting at when they post
  • Visa guarantees the exchange rate the day you make the purchase, but has a built in cushion since the transaction typically only posts a couple of days later, so exchange rates could change, meaning there’s some risk for Visa
  • Mastercard charges the exchange rate the day the transaction posts (often a couple of days after the transaction), so since they’re charging whatever the rate is, the cushion is much smaller

Similar to above showing that VISA charges later than MC
  • Visa often takes a bit longer to post, but when they do they consistently match their published rate for the posting date.
  • Mastercard posted faster, but there were small variations in exchange rates even on transactions posted on the same day.
  • Although not a statistically significant experiment, Visa ended up being 0.27% more expensive than Mastercard.

VISA or MC, as long as we use a bank charging us no foreign transaction fees and paying in local currencies, we are all doing the right thing.
VISA or MC, as long as we use a bank charging us no foreign transaction fees and paying in local currencies, we are all doing the right thing.
I think that's a good way to avoid falling into the rabbit hole :D

Both Visa and Mastercard offer decent exchange rates, much better than any bank surcharge!
Could you say a couple more words on it?
Sure :)

Migros is actively advertising that their card has no currency exchange fee. And on paper, this is true since the card itself has no exchange rate fee. However, the card is using the Migros Bank exchange rate. This exchange has about a 2% surcharge on currency exchange. So, they know they have a 2% exchange fee, and they still advertise it as "free of currency exchange fees." For me, this is lying to their customers.

I talk about it a little more in my article: