IBAN money transfer
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URL: http://www.brick-yard.co.uk/forum/forum_posts.asp?TID=18897
Printed Date: 16 Apr 24 at 20:55
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Topic: IBAN money transfer
Posted By: badger
Subject: IBAN money transfer
Date Posted: 03 Sep 07 at 19:47
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Has anyone found a bank who are actually interested in assisting in transfering money by IBAN? I've got all the details that i "should" need (IBAN & BIC numbers), but both my banks seem to want to know loads more details - names/addresses, account numbers...all details which are supposed to be contained within the IBAN and BIC numbers. Anyone got any advice on a quick/easy way to pay money into a european account? ------------- 1989 Westy California 1.9 AAZ |
Replies:
Posted By: Tee3
Date Posted: 03 Sep 07 at 19:48
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cash by registered post. how much is it? and who to? ------------- YOU CANT EDUCATE GAMMON  http://www.tee3.co.uk/" rel="nofollow - http://www.tee3.co.uk/ |
Posted By: badger
Date Posted: 03 Sep 07 at 20:08
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Chap in Germany, just under £100 Can't believe how a system which is supposed to identify any account (IBAN) still relies on you filling in a 2 page form before they charge you £17.50 for the privilige. ------------- 1989 Westy California 1.9 AAZ |
Posted By: Steve B
Date Posted: 03 Sep 07 at 20:13
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Nat West....never a problem for me.I always send it via "Relay".All they need is the recipients name,the bank's name,the IBAN and the BIC...job jobbed for tenner. |
Posted By: badger
Date Posted: 03 Sep 07 at 20:28
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Presume you need a Nat West account for this though? ------------- 1989 Westy California 1.9 AAZ |
Posted By: Steve B
Date Posted: 03 Sep 07 at 20:30
| Yep. |
Posted By: Steve B
Date Posted: 03 Sep 07 at 20:32
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You can do it through the Post Office as well. http://www.postoffice.co.uk/portal/po/content2?catId=19300207&mediaId=19700176&keyname=aoi_mgram - http://www.postoffice.co.uk/portal/po/content2?catId=1930020 7&mediaId=19700176&keyname=aoi_mgram |
Posted By: badger
Date Posted: 03 Sep 07 at 20:33
Looks like the kid's bank account is being plundered tomorrow ------------- 1989 Westy California 1.9 AAZ |
Posted By: Grantus
Date Posted: 04 Sep 07 at 01:03
Let me know how you go. Last transfer I did, cost me 15EUR fee, to transfer 66.90EUR into a German bank account. The chap claimed I only sent 54.90EUR, and emailed me a scan of his bank statement. It looks like HIS bank took another 12EUR fee as well!  ------------- Blue 88 MV Caravelle CL Manual Was White, now Blue 91 MV Single cab Manual (Pritsche) |
badger wrote:Posted By: billy
Date Posted: 04 Sep 07 at 07:48
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--The best way to buy stuff off German ebay if its just £100 odd or so is send the cash in euros to the seller--its a slight risk however you do it--
------------- Norf Essex--'s all Estuary 'ere init mate?--& it aint a classic-its a T3-keep'em runnin'-keep'em cheap |
Posted By: VWlewis
Date Posted: 04 Sep 07 at 08:39
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Yes - in my experience the German bank system seems to be disconnected with the UK and the cost of sending money via a bank is high (as reported by Grantus) for small amounts (like VW parts / spares!). I have not yet managed to do a simple internet based bank transfer to Germany like I do in the UK bank system between UK accounts. Maybe the problem is the UK bank system?! (the UK government is on the case of the banks where they take 3 days to transfer money and maybe this will change the general money transfer system) Like Billy, I have resorted to sending Euros - and the Germans seem to not use Paypal much either. -------------  - Took test in a T2, drove a T1, T4, T5 and now run a T3 - and I am not Tee'd off
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Posted By: Grantus
Date Posted: 04 Sep 07 at 15:32
Why is that? Are they worried about the Paypal fees? It would be way cheaper for me to even pay the Paypal fee, as an extra charge, rather than the rip-off bank fees. It also means that they would receive the whole amount I send, rather than the "surprise" fee at the German bank end. ------------- Blue 88 MV Caravelle CL Manual Was White, now Blue 91 MV Single cab Manual (Pritsche) |
Posted By: badger
Date Posted: 04 Sep 07 at 20:27
Been to the Nat West today, much more helpful than RBOS & Yorkshire Bank, managed to transfer the money from the kids savings account ------------- 1989 Westy California 1.9 AAZ |
Posted By: monsho
Date Posted: 04 Sep 07 at 20:40
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did it over the phone today with HSBC, cost 9 quid (plus whatever they make
on the currency conversion I guess!) |
Posted By: Dr Dub
Date Posted: 05 Sep 07 at 16:35
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As i understand it, IBAN is the way the rest of europe does it, its done, dusted, no steep comission and everyone seems to trust it. I think we may just be behind as usual. ------------- 2011 camperjam tug and chug team member CALLERS NEVER FAIL - DREAMERS USE E MAIL !! Bristol Area-Tel 07721577612 |
Posted By: markpark
Date Posted: 06 Sep 07 at 23:58
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To do a transfer within the EU now you have to quote the IBAN and BIC code. This has been law since the 1st of Jan. That is all the bank needs as you rightly have said they do not require the bank address unless you are transferring out side the EU where you will require, address, account number and routing number.
The reason for the long timescale on a foreign payment is that it is handled by multiple banks along the way. All of these may legitimatley chose to charge a fee, including the ultinate recipient bank to cover the processing cost.
Yes Uk interbank transfers will be pretty much instant from Nov, but the banking systems within europe are so diverse and have no shared platform so faster transfers are some way off.
My day job is a bank manager |
Posted By: VWlewis
Date Posted: 07 Sep 07 at 15:28
Thanks Markpark - very useful information but your cover is now blown! Watch out for VW vans stalking you!
------------- - Took test in a T2, drove a T1, T4, T5 and now run a T3 - and I am not Tee'd off
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