Instant money transfers (and cheap please)
 

This is a question on behalf of my OH.

He fairly regularly has to receive money transfers into Spain from abroad in exchange for goods. The amount is usually highish, between 3000 euros and 12000 euros more or less.

He normally requests bank transfers from his clients but runs into a few problems because of the time delay between sending and arriving....he doesn't want to release the goods until the full amount is visible in his account, but the clients want the goods sent as soon as the money leaves their account. Sometimes the clients get a bit upset when he doesn't immediately release the goods.

Oh, and the transfers are in various currencies, usually US dollar, Danish Krona(?), and sometimes euro.

So, does anyone know of a reasonably priced option for transferring money instantly?

Many thanks.

Re: Instant money transfers (and cheap please)
 

PayPal but perhaps not cheap enough for large sums. Have you looked at opening an account with them?

Re: Instant money transfers (and cheap please)
 

Yes, they are expensive. Circa fees of 350 euros for a transfer of 12,000 euros!!!

Re: Instant money transfers (and cheap please)
 

There was a time many moons ago, long before the days of modern technology when instant transfers were quite normal.
However as bankers became ever more greedy and corrupt, they latched onto the idea of delaying transfers as long as possible, thereby not only grabbing hefty commision charges, but also getting rich on OPs money during the deliberately delayed transfer period.
Considering the massive amount of money passing slowly through the system at any particular moment in time, this amounts to a very tidy sum, to put it mildly.
Various moves have been suggested by govts and authorities to speed things up, but as always money talks, and the poor old punters are left completely at the mercy of the money grabbing wankers.

Re: Instant money transfers (and cheap please)
 

My OH says that Direct debits are about to go European. Don't know if that will help. OH still asleep so can't ask him where he saw it.
As usual things go out of Spain quicker than they come in. Post...money transfers etc. When I pay money out of my Spanish bank into my English, it takes only until the next day. The other way round can take ages.