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my bank (first direct) want £25 for transferring into a Swiss bank acct, nothing dodgy, 😯 paying for Bike Verbeir, is there a safe, and hopefully cheaper way of paying off the balance?
Thanks
PayPal?
wish I could. Not an option 😕
Try Transferwise I have bought two bikes from Germany with them very cheap on fees
Do Bike Verbier not have a UK account? It was set up by Brits wasn't it? (Sorry, haven't looked into mtb holidays for years so just scraping something from distant memory...)
£25 does seem steep for transfers to an IBAN. Having said that, I just checked with my bank (Barclays) and indeed, it would cost me £25. Bleedin' gougers. 🙂
Used Transferwise recently and it was good
Can they not just charge a debit or credit card?
15 years ago... IBAN and SWIFT codes were all that I needed to do an online transfer from by German current account (DB24) to any account in the EU, for free.
Today... From the UK, if I want to send money to any non-UK bank, the thieving scumbags want to charge me!!! £20 is fairly typical I think.
This is a classic example of UK banks ripping off their customers for what should be a free service.
Can they not just charge a debit or credit card?
Think that means [i]they[/i] pay the charges (not sure what these are to the merchant) doesn't it?
I dunno, I'm ok with [i]fair[/i] charges for CC payments for holidays, but expecting the customer to foot a £25 bank transfer charge on top of the holiday cost is taking the mick a little.
DD, no they only have a Swiss acct, I don't mind that so much it's the money my bank want for the privilege of pressing a few buttons on a computer...(oh, and a nice letter telling me they've robbed me...)
I'll look at Transferwise, thanks.
We receive all the money from our Sudan customers through Hawala:
https://en.wikipedia.org/wiki/Hawala
Wiki says: "Hawala is attractive to customers because it provides a fast and convenient transfer of funds, usually with a far lower commission than that charged by banks."
[i]This is a classic example of UK banks ripping off their customers for what should be a free service.[/i]
*bites*
Why should it be free?
I recommend curencyfair.com - set up an account, transfer pounds from your bank to theirs, exchange the pounds to CHF (peer to peer + very small %) then transfer them to the swiss account (£3 fee). Because it's peer to peer you're getting a rate midway between the usual buy and sell price - the commission is something like 0.3%. I usually save about £50 plus the bank fees on renting a ski apartment.
No connection with them other than as a satisfied customer - I get nothing out of recommending them other than the satisfaction of helping other avoid excessive charges for what is now a very simple transaction.
This is a classic example of UK banks ripping off their customers for what should be a free service.*bites*
Why should it be free?
because it's no different to making an on-line payment from your account into any other person's account. As they make money on the exchange rate they charge, why should we be charged extra for the transaction itself?
I wouldn't be happy if they charged me for any other direct transfers.
transferwise +1
nick - YGM