jimbo33

Hi Guys and Girls.. Need help or Advice please.. I have transferred money via a money broker from the UK to Aus and have a receipt for the total amount they transferred in Aud $.. However my Commonwealth account shows $24 less. I have telephoned the Commonwealth Bank and they said it was a charge from the UK. I telephoned the Money Broker in UK and they said they transferred the whole amount..??? My question is - where has the $24 gone..??? I know its a small amount but that's not the point. Are Commonwealth Bank telling me the truth.?? They do not show a 'charge' onto my account just the amount paid in. Please advise if you can.. Thank you

old.sparkles

You would need to know the routing of the transfer - an intermediary bank may have applied the charge. Had this happen when a transfer from HiFx to Westpac was routed through Barclays and NAB (NAB applied the charge) to Westpac

OzTennis

If it helps, we did a large transfer the other way from CBA to RBS last year. We transferred $x but the bank statement showed £x + $30 as being debited/withdrawn. CBA therefore charged $30 for the transfer and it was visible on our statement.

Swerv-o

There's a long thread on here about these charges. It seems completely normal behaviour to apparently charge a fee to receive funds from an overseas transaction. HSBC charge $10.


S

jimbo33

Thank you all. My concern is the LACK of clarity on Commonwealth Bank's part to declare their fee process.. I will look for the thread and see what it says. This is a poor practice in 2014.. Swerv-o can you direct me to the thread please.. Jim

paddyo

I was 'warned' about this when doing a Money Transfer from Halifax in UK to CBA here. So I went via Oztransfers and it was seemless and cost effective and I chose the rate myself...not arbitrarily of course!!

moo1982

Anyone had dealing with these peeps? World First
Someone recommended them to me for transferring funds from my UK bank account to a Aussie one.

old.sparkles

Not seen them recommended before - most people seem to have used Ukforex / Ozforex / tranzfers

moo1982

Ok

They do seem a reptuable company. They seem to have all the correct registration and approvals to be a money transfer business.
Just my worry is I make a transfer and suddently the money disappears into thin air.