Currency Transfer Charges
 

Hi,

I have just used my card to order some currency from HiFX which was then paid to my Westpac account and there was a $35 charge taken from it at the receiving end. I know in the FAQs it says this can happen. Is this normal or is there another way around it. Should I set up another bank account to receive the funds into ?

The money is only transferred as a simple bank payment (don't you just love financial institutions).

:frown:

Re: Currency Transfer Charges
 

I was cross when I had that happen too, since Westpac is linked with Barclays (or was - not sure now), and HiFX bank with Barclays, and Westpac link HiFX from their website (again did when I looked).

Turned out the money was routed through NAB and NAB supposedly added the charge, but I complained and got it refunded. After that, switched to UKForex - no fees at all :)

Re: Currency Transfer Charges
 

Hi,

Thanks for the reply. Can I please ask which of those involved you complained too, to get the refund.

We have got a few transactions to make over the next few months and having to pay $35 on each one will soon add up.

Thanks.

Re: Currency Transfer Charges
 

HiFX since my agreement was with them.

Re: Currency Transfer Charges
 

+1 for UKForex and OzForex. Been using them for years and always happy with the results.

Re: Currency Transfer Charges
 

did you use hifx uk or Australia? If you use the Australian office you wont incur any charges for funds coming into Australia, I use them regularly

Re: Currency Transfer Charges
 

+2 for UK/OzForex, CBA and RBS - no charge for transfer from CBA to RBS completed by UK/OzForex.

Re: Currency Transfer Charges
 

Hi jadedjilly,

It is rare for an Aussie bank to charge a Receiving Fee and sometimes it can be an Intermediary Bank that takes money from the transfer as explained by old.sparkles.

Please PM or visit our Vendor Forum for info on how we could help you.

Dan