International wire?!
Feb 23rd 2009, 7:26 pm
#1
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Joined: Jan 2008
Location: Devon UK or IL USA
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International wire?!
Hi
Don't know if anyone can help, my parents are wanting to rent a lodge in the states in the summer and the cost is about $6k anyway the owner doesn't accept credit card payments so wants a wire.
He has given us the bank address and account number but that is it does anyone know what other details are UK bank will need to transfer it?! I was sure you would need a Swift code or IBAN something or other. Anyway I have tried to consult google but am still clueless..
Anybody got any ideas of what to do?
Thanks!
Sophie
Don't know if anyone can help, my parents are wanting to rent a lodge in the states in the summer and the cost is about $6k anyway the owner doesn't accept credit card payments so wants a wire.
He has given us the bank address and account number but that is it does anyone know what other details are UK bank will need to transfer it?! I was sure you would need a Swift code or IBAN something or other. Anyway I have tried to consult google but am still clueless..
Anybody got any ideas of what to do?
Thanks!
Sophie
Feb 23rd 2009, 7:30 pm
#2
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: International wire?!
They will need the routing code for the bank and the account number and HiFX asks for the bank address when I do my transfers.
Can I suggest they look at doing it via HiFX or one of the other commercial currency brokers. They will get a better exchange rate than a high street bank and no or much lower transaction fees.
Can I suggest they look at doing it via HiFX or one of the other commercial currency brokers. They will get a better exchange rate than a high street bank and no or much lower transaction fees.
Feb 23rd 2009, 7:30 pm
#3
UK>Bay Area, CA>UK
Joined: Dec 2006
Location: Surrey, UK
Posts: 353
Re: International wire?!
Hi
Don't know if anyone can help, my parents are wanting to rent a lodge in the states in the summer and the cost is about $6k anyway the owner doesn't accept credit card payments so wants a wire.
He has given us the bank address and account number but that is it does anyone know what other details are UK bank will need to transfer it?! I was sure you would need a Swift code or IBAN something or other. Anyway I have tried to consult google but am still clueless..
Anybody got any ideas of what to do?
Thanks!
Sophie
Don't know if anyone can help, my parents are wanting to rent a lodge in the states in the summer and the cost is about $6k anyway the owner doesn't accept credit card payments so wants a wire.
He has given us the bank address and account number but that is it does anyone know what other details are UK bank will need to transfer it?! I was sure you would need a Swift code or IBAN something or other. Anyway I have tried to consult google but am still clueless..
Anybody got any ideas of what to do?
Thanks!
Sophie
Feb 23rd 2009, 7:40 pm
#4
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Thread Starter
Joined: Jan 2008
Location: Devon UK or IL USA
Posts: 400
Re: International wire?!
They will need the routing code for the bank and the account number and HiFX asks for the bank address when I do my transfers.
Can I suggest they look at doing it via HiFX or one of the other commercial currency brokers. They will get a better exchange rate than a high street bank and no or much lower transaction fees.
Can I suggest they look at doing it via HiFX or one of the other commercial currency brokers. They will get a better exchange rate than a high street bank and no or much lower transaction fees.
Is the routing code the ABA routing number? Because I seem to have that as well in the details that were given!
Thanks
Feb 23rd 2009, 7:41 pm
#5
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Feb 23rd 2009, 8:47 pm
#6
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: International wire?!
I believe the routing code is also called the ABA routing number. It is a 9 figure number.
I reckon HiFX is good for at least 6 cents in the £ more than NatWest.
I've just looked it up to be sure and the ABA routing number and routing code are the same thing.
I reckon HiFX is good for at least 6 cents in the £ more than NatWest.
I've just looked it up to be sure and the ABA routing number and routing code are the same thing.
Last edited by lansbury; Feb 23rd 2009 at 8:50 pm. Reason: confirming they are the same
Feb 23rd 2009, 8:53 pm
#7
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: International wire?!
The figure they quote is the spot rate and not what they give as an exchange rate.
If the spot rate on the HiFX site is 1.45 they should offer you 1.425 to 1.43 for a one off exchange.
If the spot rate on the HiFX site is 1.45 they should offer you 1.425 to 1.43 for a one off exchange.
Feb 23rd 2009, 8:54 pm
#8
Lost in BE Cyberspace
Joined: Oct 2003
Location: My Old KY Home!
Posts: 6,498
Re: International wire?!
Yep. The ABA routing number should be 9 digits. I'm not sure about the typical length for the checkign account number - ours is 12digits.
