Non-motoring > Overseas money transfer	Miscellaneous
Thread Author: legacylad	Replies: 30

Sun 4 Aug 24 17:07   Overseas money transfer - legacylad

I need to transfer a few hundred euros to an individuals Spanish bank account....he is kindly organising a group walking trip and needs to pay the hotel. I know that my uk bank charge a small fortune, and when I used my Revolut card to pay my normal agent for a property rental their bank ( business account) charged them a small fortune, which was passed on to me. I’ve tried to set up a Wise account. For a number of reasons it’s not happened through no fault of mine... their help line was hopeless...could hardly hear them with the call centre background noise) Any suggestions please without getting stung on charges.. Reply to this message | Report message

Sun 4 Aug 24 17:25   Overseas money transfer - Biggles

If you trust them, paypal friends and family (assuming you both have an account). Reply to this message | Report message

Sun 4 Aug 24 17:26   Overseas money transfer - smokie

I usually pay for my Portugal apartment using Revolut and the landlord has never said she has incurred cost. What we have hit is a €1k limit per calendar month for transfers (excludes ATMs, which have €200 a calendar month limit IIRC, then 4%) , above which charges would be payable (by us, not the recipient), so we now pay her in two lumps (though I can't immediately find that charge documented anywhere on their site). I need to pay her later this week for the upcoming stay so would be interested in how this ends up. Last edited by: smokie on Sun 4 Aug 24 at 17:27 Reply to this message | Report message

Sun 4 Aug 24 17:40   Overseas money transfer - legacylad

Maybe substantial charges were made to the agent because my Revolut payment was made to a business account ? On this occasion payment is requested into a private individuals bank account ( Caixa). I’ve emailed him…don’t want him incurring charges at his end, which obviously I shall repay. Reply to this message | Report message

Sun 4 Aug 24 17:37   Overseas money transfer - CGNorwich

Can you not pay the hotel directly using your card? Reply to this message | Report message

Sun 4 Aug 24 17:43   Overseas money transfer - legacylad

No. He wants payment into his account, will consolidate all the payments ( 25 of us on the trip) and he will make the one payment to the hotel. I can’t complicate matters…must be paid to his bank account. Reply to this message | Report message

Sun 4 Aug 24 17:57   Overseas money transfer - tyrednemotional

>>…must be paid to his bank account.... >> ....in Nigeria? Reply to this message | Report message

Sun 4 Aug 24 17:57   Overseas money transfer - CGNorwich

In that case your best option wil be your bank even though as you have found out charges will be high Reply to this message | Report message

Sun 4 Aug 24 19:50   Overseas money transfer - CGNorwich

Out of interest I checked how much my bank would charge to make a SWIFT transfer via online banking. £10 Reply to this message | Report message

Sun 4 Aug 24 20:55   Overseas money transfer - legacylad

Santander flat rate fee is £25. Plus a lousy exchange rate to euros. Payment is €269. Reply to this message | Report message

Sun 4 Aug 24 21:05   Overseas money transfer - zippy

www.xe.com/send-money/ I have no association and have never used them. Reply to this message | Report message

Wed 7 Aug 24 13:11   Overseas money transfer - legacylad

Spoke to Santander....a SWIFT transfer is a flat fee of £25, but they informed me of a free transfer called SEPA, which is normally the following trading day. Gave them all pertinent details, amount in euros, IBAN, recipients bank name ( Caixa) their name and a reference ( my name). Transfer went ahead as promised the following day, a poor exchange rate as expected (€1.135) but no bank charges imposed on my friends account by Caixa. Lots of security questions by Santander which is good. One happy customer. I’ll get around to sorting my Wise account, but in the meantime no more foreign money transfers anticipated. Reply to this message | Report message

Wed 7 Aug 24 14:28   Overseas money transfer - James Loveless

SWMBO has family abroad and we use Wise (formerly Transferwise), having previously found them to be cheapest. It's certainly very quick - usually the money arrives the next working day. Reply to this message | Report message

Wed 7 Aug 24 15:20   Overseas money transfer - smokie

SWMBO paid £1000 of our Portugal apartment rental yesterday via Revolut. No charge to us, 1.164 euros per pound (0.8587). I expect we'd have heard if they were getting a charge the other end. Reply to this message | Report message

Wed 7 Aug 24 16:54   Overseas money transfer - legacylad

Was that payment to a letting agents business account or a private account? I trust my normal rental & sales company in Spain implicitly..they own all of the rental properties and don’t act as third party agents. I paid using my Revolut account two years ago and was shocked at how much their bank charged them. I set up a Wise account many years ago on my old email address, and despite having my original password, I can’t gain access using my new email address. And it won’t let me set up a new account…to sort Friday after another day out in York tomorrow. Morning walk around the walls , downstream to Millenium Bridge, then Wellington, Minster Inn, Market Cat and Pivni in that order. Reply to this message | Report message

Wed 7 Aug 24 15:24   Overseas money transfer - James Loveless

SWMBO has family abroad and we use Wise (formerly Transferwise), having previously found them to be cheapest. It's certainly very quick - usually the money arrives the next working day. Reply to this message | Report message

Wed 7 Aug 24 16:43   Overseas money transfer - smokie

With Revolut the recipient confirmed receipt within 5 mins! Reply to this message | Report message

Wed 7 Aug 24 16:56   Overseas money transfer - legacylad

I use Revolut for 95% of my transactions abroad…supermarkets , fuel, round of drinks. Pay OKMobility in euros for my car hire using Revolut. Reply to this message | Report message

Wed 7 Aug 24 17:01   Overseas money transfer - smokie

Private account I suspect. I thought that's what you said you were doing? Reply to this message | Report message

Wed 7 Aug 24 17:28   Overseas money transfer - Manatee

I'm a bit behind the curve here. I use a Halifax Clarity credit card that gives me a commercial exchange rate and no extra charges on purchases. Same for cash withdrawals but I assume I'd pay interest on those unless I put the account into credit first. Presumably Revolut wouldn't save me anything? Reply to this message | Report message

Wed 7 Aug 24 17:41   Overseas money transfer - Kevin

I use the Halifax Clarity card for non-Sterling stuff. The app won't allow you to pay more than the outstanding balance so you can't pre-load it. If you withdraw cash just pay it off as soon as it hits the account. Reply to this message | Report message       1

Wed 7 Aug 24 18:21   Overseas money transfer - tyrednemotional

>> I use the Halifax Clarity card for non-Sterling stuff. The app won't allow you to >> pay more than the outstanding balance so you can't pre-load it. If you withdraw cash >> just pay it off as soon as it hits the account. >> I regularly pre-load my Clarity account by bank transfer. Don't draw foreign cash in the UK any longer, just withdraw abroad as and when required. (as and when I think I'm going to need cash, I simply transfer the current balance plus, leaving the a/c in credit, against which cash can be drawn) Reply to this message | Report message       1

Wed 7 Aug 24 18:45   Overseas money transfer - Kevin

Just tried both the App and online. Both of them give me: "The maximum amount you can pay is £0 because you can’t pay more than you owe." Reply to this message | Report message

Wed 7 Aug 24 18:59   Overseas money transfer - tyrednemotional

I pay off/into the Clarity a/c from my main current account by bank transfer. (i.e.. push not pull). That current account is, however, with a different bank. If I "overpay", the Clarity a/c simply goes into credit. Done it for years. Reply to this message | Report message

Wed 7 Aug 24 19:29   Overseas money transfer - Kevin

Exactly the same as me. I only have the card account as well and it's never let me pay more than the outstanding balance. Is this two-tier banking? Reply to this message | Report message

Wed 7 Aug 24 19:55   Overseas money transfer - tyrednemotional

I'm confused as to how a (faster payments) transfer invoked from another bank can give you the message you say you get. At the point of transfer it has no cognisance of what the balance in the receiving account is. My money simply gets transferred and the Clarity balance is adjusted accordingly (into credit if that is the effect of the payment). Are you doing a "pull" transfer using the Halifax platforms (which *will* be aware of the balance)? Reply to this message | Report message

Wed 7 Aug 24 20:13   Overseas money transfer - Kevin

Ahh, I think you've got it. Reply to this message | Report message

Thu 8 Aug 24 13:03   Overseas money transfer - Kevin

Pushed a few quid to my account this morning while waiting to be phlebotomised. Why didn't I think of doing it that way. I must be going senile,.. or just lazy. Reply to this message | Report message

Thu 8 Aug 24 14:58   Overseas money transfer - Manatee

Comments re Clarity helpful. Thanks. I'll probably test it in October, I'd have no use for surplus Malaysian ringgits or Indonesian Rupiah. Reply to this message | Report message

Thu 8 Aug 24 15:09   Overseas money transfer - tyrednemotional

You just need to be careful the owner of the withdrawal ATM doesn't charge commission. Not a lot do (against Clarity at least) but I think as an example CA in France now do (not that I've tested it). Whilst cash withdrawals attract interest from day 1, any surplus or in-payment goes against the cash before other purchases, so, if you're enough in credit at withdrawal time ....... Reply to this message | Report message

Wed 7 Aug 24 17:30   Overseas money transfer - legacylad

Update. My friend in Spain has just emailed to say that his bank, Caixa, have charged him €15 for accepting the money transfer into his private current account. Thieving gets. I’d better get my Wise account sorted asap. Reply to this message | Report message