Hi guys,

 

This one is a new one to me. My bank charge £30 if i want to send a bank tranfer to another bank to cover the "administration charges"

 

What other ways can i send money abroad to the EU? (preferrably not a check, as royal mail is a lil bit slow) and paypal would take 3.4% - which is a fair chunk to lose when its in the hundreds.

 

Reaper

why would they do that? that is a complete new one to me aswell mate. transfers are free. bar that your maybe looking at western union or something.

Its LLoyds TSB, i got told it when i tried doing it from my account to one at Abbey.

 

I need a client (from spain) to send me some money, but i dont fancy losing £15 to paypal (if i have to, i will) so i suppose i will just have to take a look at what else i can do.

 

Reaper

There is a substantial charge for what used to be (probably still is) called CHAPS, the guaranteed same day transfer service (as opposed to BACS, which was three days and free on personal accounts, pence on business ones) but I would imagine that's on its way out with the Faster Payments thing recently introduced. Don't know about Lloyds, but some banks are introducing it gradually and some of the 'lower end' accounts don't have it yet.

 

Anyway, what I am trying to say is, are you sure this is for an ordinary transfer and they're not trying to do a CHAPS type payment?

There is a substantial charge for what used to be (probably still is) called CHAPS, the guaranteed same day transfer service (as opposed to BACS, which was three days and free on personal accounts, pence on business ones) but I would imagine that's on its way out with the Faster Payments thing recently introduced. Don't know about Lloyds, but some banks are introducing it gradually and some of the 'lower end' accounts don't have it yet.

 

Anyway, what I am trying to say is, are you sure this is for an ordinary transfer and they're not trying to do a CHAPS type payment?

 

 

i have a personal account with lloyds and can make free quick transfers to another halifax account in less than a couple of hours... and thats with their basic no frills current account. i'd take a look around for a better deal if i were you... seems like they're taking you for a bit of a ride with fees like that!

Guys he is talking about INTERNATIONAL transfers, not domestic.

Most of my international clients use Xoom to send payments. Here is the link - https://www.xoom.com/sendmoneynow/home?receiveCountryCode=

 

So far based on my experience Xoom transfers the money within 6-8 hours after sender completes the process. Most of my clients are from the U.S., Singapore and Canada. I tend to avoid using Paypal even though it's more popular than Xoom. Because Paypal charges a service fee on withdrawals and money transfer takes about 5 days which is really a hassle. I don't know about the setup in other countries but Paypal does not have a good setup here in Manila. We also need to have an EON debit card to be able to receive money from Paypal and we need to pay an annual fee. With Xoom, it's just receiving the payment without any service charge. Hope this helps.

Guys he is talking about INTERNATIONAL transfers, not domestic.

Yep, I missed reading the all important word there. Thanks for pointing that out Sam.

i have a personal account with lloyds and can make free quick transfers to another halifax account in less than a couple of hours... and thats with their basic no frills current account. i'd take a look around for a better deal if i were you... seems like they're taking you for a bit of a ride with fees like that!

Yep, that's the new faster payment service. CHAPS has always attracted fees to ensure same day service, BACS hasn't, used to be three days but on most accounts is now within hours.