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UK Bank Acccounts

UK Bank Acccounts

Old Jan 17th 2021, 12:09 pm
  #136  
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Default Re: UK Bank Acccounts

Originally Posted by Geordieborn View Post
Well both Transferwise and CurrencyFair have a personal and business menu, so do both. That would suggest to me (used only personally) they likely charge differently (more?). I should add they have always (well before Brexit) said some receiving banks may charge and it is outside of their control. To quote Transferwise:-

Some banks, mostly Italian or Spanish, will still find ways to charge you extra. So, you can try paying for your transfers a different way — for example, by debit card or Trustly.

So there is a surprise !

Just below the above on their site they say:-

TransferWise has two EUR accounts, based in Estonia and Belgium. They are both SEPA-compliant.

But perhaps some banks will still charge? We used both a while back and were never charged on our old Poste a/c.
If you have a Poste account do you need to visit the post office very often?
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Old Jan 17th 2021, 1:56 pm
  #137  
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Default Re: UK Bank Acccounts

It was 2 years back now since I had an account, but I hardly ever visited the post office and never regards the account, apart from having to do so to close the account!
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Old Jan 26th 2021, 6:39 am
  #138  
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Default Re: UK Bank Acccounts

Originally Posted by Geordieborn View Post
It was 2 years back now since I had an account, but I hardly ever visited the post office and never regards the account, apart from having to do so to close the account!
The charges at the Poste are much cheaper than Unicredit. You get a monthly €2 discount for a balance above €3000 and €1 for making regular payments in. Accounts are backed by the government too.
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Old Jan 26th 2021, 9:26 am
  #139  
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Default Re: UK Bank Acccounts

Originally Posted by philat98 View Post
The charges at the Poste are much cheaper than Unicredit. You get a monthly €2 discount for a balance above €3000 and €1 for making regular payments in. Accounts are backed by the government too.
Those are new to me and sound good, online was okay and most things could be done there. I would look at all the T&Cs as there were some odd charges, but perhaps they have gone?
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Old Feb 4th 2021, 7:18 am
  #140  
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Default Re: UK Bank Acccounts

I am happy to report that the transfer company that I frequently use has routed an EUR credit to my account via Citibank in Spain which has resulted in my receiving the funds without charges ! Hurray.
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Old Feb 4th 2021, 10:43 am
  #141  
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Default Re: UK Bank Acccounts

I wasn't charged for a transfer via my usual transfer company either.
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Old Feb 4th 2021, 5:59 pm
  #142  
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Default Re: UK Bank Acccounts

Originally Posted by Margaret M View Post
I wasn't charged for a transfer via my usual transfer company either.
same here
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Old Mar 4th 2021, 8:36 am
  #143  
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Default Re: UK Bank Acccounts

Originally Posted by Plan B View Post
I am happy to report that the transfer company that I frequently use has routed an EUR credit to my account via Citibank in Spain which has resulted in my receiving the funds without charges ! Hurray.
I transfer Lloyds to Unicredit (who have agreed to half my Spesa fissa on regular transfers). I notice on Unicredit's advice note that the Banca ordinante is Lloyds Bank, registered at a Berlin address.
Has any Unicredit (or other local bank) customer raised the point, that this is therefore an intra-EU payment, with their branch, please?
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Old Mar 5th 2021, 5:55 pm
  #144  
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Default Re: UK Bank Acccounts

I regret that I have to update my experience. A day or two after making my transfer through WorldFirst (free of UniCredit charges), WorldFirst announced they were ceasing to service individuals: bu**er. I have since used a different transfer company who sent payments via SWIFT and SEPA and both incurred charges imposed by UniCredit, albeit marginally different charges for the same principle amount. I have opened an account with another transfer company and will see what happens. If these also incur charges I'll try your route Jiminalpago, and seek to at least reduce UniCredit's charges for regular transfers.


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Old Mar 5th 2021, 7:46 pm
  #145  
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Default Re: UK Bank Acccounts

I would look at both Currencyfair and Transferwise. The former are better for amounts over circa £200 and were last time we contacted them very good at getting back on questions, so worth an email about charges. Not used them for a couple of years now, but they also had a facility to ask for a rate to exchange. We found this worked well when rates were on the rise whereby you could set a desired rate and if it hit that it would automatically trigger the buy. This seemed to often work very well overnight.
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Old Mar 5th 2021, 8:08 pm
  #146  
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Default Re: UK Bank Acccounts

Originally Posted by Geordieborn View Post
I would look at both Currencyfair and Transferwise. The former are better for amounts over circa £200 and were last time we contacted them very good at getting back on questions, so worth an email about charges. Not used them for a couple of years now, but they also had a facility to ask for a rate to exchange. We found this worked well when rates were on the rise whereby you could set a desired rate and if it hit that it would automatically trigger the buy. This seemed to often work very well overnight.
The last time I transferred from CurrencyFair (to Intesa San Paolo) was late February. No charges by either party apart from CurrencyFair's standard €3 charge. And they still do the rate monitoring service ...
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Old Mar 6th 2021, 6:43 am
  #147  
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Default Re: UK Bank Acccounts

I suppose it depends on whether you are sending sterling to euro, or the funds come from a euro account in GB. If its sterling to euro then even it were sepa you would still pay to change the currency, surely?
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Old Mar 6th 2021, 7:17 am
  #148  
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Default Re: UK Bank Acccounts

Originally Posted by modicasa View Post
I suppose it depends on whether you are sending sterling to euro, or the funds come from a euro account in GB. If its sterling to euro then even it were sepa you would still pay to change the currency, surely?
Yes, clearly, but I didn't think that was what was being discussed here. Maybe I misunderstood?
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Old Mar 6th 2021, 7:36 am
  #149  
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Default Re: UK Bank Acccounts

Its more lkely i got the wrong end fo the stick
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Old Mar 6th 2021, 8:44 am
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Default Re: UK Bank Acccounts

Certainly with Currencyfair the transfer is in Euro as in effect you have a stirling and Euro account whereby you exchange from one to the other. There is a mark-up, but it is small, and of course a fixed €3 regardless of the amount, hence the difference with Transferwise (I don't recall how they worked it).
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