2026 Study: The "Swiss Shield" Protects Cross-Border Purchasing Power (+2.8%)

What are the key findings of the study (January 2026)?

We cross-referenced official macroeconomic data (Switzerland and France) with exchange rate trends observed on the interbank market.

1. How much will Swiss wages rise in 2026?

According to the Autumn survey by UBS, Swiss companies plan a nominal wage increase of 1.0% in 2026. This caution is explained by the very low inflation rate in Switzerland, measured every month by the Federal Statistical Office.

However, for a cross-border worker, this increase is "net": it adds to their income without being eaten away by Swiss inflation, since they consume primarily in the Eurozone.

2. Why is the exchange rate the real engine (+2.7%)?

This is this year's multiplier factor. The Swiss Franc (CHF) confirms its status as a safe-haven currency. It's worth following the daily CHF/EUR rate to convert your Swiss francs into euros at the real market exchange rate, plus a margin of 0.40% to 0.15% depending on the amount.

By comparing the average exchange rate of 2024 with the January 2026 average (European Central Bank reference rates: 0.9526, then 0.9272 francs per euro), we observe an appreciation of the franc against the euro. Concretely:

• For a salary of 5,000 CHF converted.
• The monthly gain from the exchange rate effect alone is approximately 145 € compared to the 2024 average.

3. How much of this gain can the bank take back?

While the economic situation offers a theoretical gain of 2.8%, a portion is often captured by banking intermediaries.

Our study finds that traditional banks apply an average exchange margin of 1.5% on the interbank rate. Over a year, this "wipes out" about half of the purchasing power gain identified in this study.

Using a specialized service like Ibani allows you to reduce this margin and preserve most of the estimated gain.

Frequently asked questions

How much will cross-border workers' purchasing power rise in 2026?

ibani's January 2026 study estimates the gain at +2.8% for a cross-border worker paid in Swiss francs who spends in the eurozone. The calculation adds the nominal rise in Swiss wages forecast by UBS (+1.0%) and the franc's appreciation against the euro (+2.7%), then subtracts average inflation in France in 2025 (0.9%). It is a theoretical projection, not a guaranteed gain.

Why does the exchange rate matter more than the wage rise?

Because the exchange rate effect (+2.7%) weighs almost three times as much as the forecast wage rise (+1.0%). According to European Central Bank reference rates, one euro was worth 0.9526 francs on average in 2024 and 0.9272 francs in January 2026. On a salary of 5,000 CHF converted into euros, this appreciation of the franc is worth about 145 € more a month.

Do cross-border workers in IT gain more in 2026?

According to the same UBS survey, Swiss companies expect a nominal wage rise of 1.7% for IT profiles, against 1.0% on average. Keeping the exchange rate effect (+2.7%) and the French inflation (0.9%) used in the study, the potential purchasing power gain reaches +3.5% for these profiles. Like the average figure, it is a projection made in January 2026.

How much does a 1.5% bank exchange margin cost on a cross-border salary?

On a salary of 5,000 CHF converted every month, a 1.5% margin takes 75 CHF a month, or 900 CHF a year. This is the average bank margin used by the study: it wipes out about half of the 2.8% gain estimated for 2026. For comparison, ibani's margin on an amount under 10,000 CHF is 0.40%, i.e. 20 CHF a month on the same salary.

How does the study calculate the purchasing power gain?

The formula adds the rise in Swiss nominal wages and the CHF/EUR exchange gain, then subtracts inflation in France. Wages come from the UBS Outlook survey of November 2025 and the forecasts of the KOF at ETH Zurich, inflation from the average rise in the consumer price index in 2025 published by INSEE (+0.9%), and the exchange rate from the European Central Bank's daily reference rates, republished by the Banque de France.