A track-bound vehicle converter comprises a block-wave generator (20) configured to be connected to a direct voltage source (21) and connected to a series resonance link (34), or to an inductive link, for providing the input of a direct converter (41) with semi sinusoidal current pulses. The direct converter has at least one phase leg (42-44) having on one hand one switch (45-47) connected to the link (34) and able to block voltages in both directions thereacross and conduct current in both directions therethrough and on the other a capacitor (48-50) connected in series therewith. The voltage across the capacitor (48-50) of the direct converter is used to provide a converter output with an alternating voltage.