Here you will find the right answers
The moneyland.ch forum lets you exchange knowledge on numerous topics related to money and get answers to your questions at any time. Join forum users and experts in discussions relating to banking, investment, insurance, retirement, telecom and everyday money topics.
Show categories
I read an article about WIR money issued by WIR bank. Is this actually a currency or just some form of credit or coupons? What is it used for?
Hi there,
The WIR franc (CHW) is a paralel currency issued by the WIR Bank, which specializes in banking for small and medium sized enterprises. There is no physical WIR currency. Transactions can only be made on a credit/debit basis.
The "currency" can be used to settle payments at Swiss businesses which hold WIR accounts (approximately 60,000 participants). It can also be transacted between participants.
While most banks create "money" when they credit accounts or make non-cash loans, these are generally based on a fiat currency (the Swiss franc, for example) issued by a central bank or monetary authority. The WIR franc, on the other hand, is issued and maintained by a specific private retail bank. As such, it is less vulnerable to actions taken by the Swiss National Bank.
Best regards from Moneyguru
More on this topic:
Business account comparison
Low-Cost Bank Accounts & Debit Cards
Low-Cost Bank Accounts & Debit Cards
Bank WIR Bankpaket Top
Best exchange rate: pay worldwide at the interbank rate
24 free ATM withdrawals worldwide per year
Free account & card
Yuh
No account fees
Banking partner: Swissquote
CHF 20 trading credit with code «YUHMONEYLAND»
PostFinance
For startups
2 year's free account management
Free credit card in the first year
UBS Banking for adults
Open and manage your account, savings account, and cards easily in the UBS Mobile Banking App
Plus KeyClub rewards program
50 CHF welcome gift
Deal of the Day 
Swiss Bank
Bank WIR Bankpaket Top
Best exchange rate: pay worldwide at the interbank rate
protected by
