Sending Money abroad to a bank

nuffs3d · 8 August 2006 at 11:20AM

Hi,

I am starting an ebay shop and need to send money to a chinese company for some samples before I get started. The samples inc deliveyr only cost $44but Abbey say the only way for me to make this payment is to send using Chaps which costs £25 ! This is more than the goods and international shipping together!

Is there an alternative to using banks for this sort of money transfer as this seems to be hugely expensive.

I have considered paypal but this requires the company to have a paypal account. I would prefer to use an online serice but I need to pay direct to their bank account.

Any advice greatly appreciated.

Thanks, Simon.

regularsaver1 · 8 August 2006 at 6:32PM

Chaps is within UK - I think you mean Telegraphic Transfer instead

can you get a foreign draft?

richardmk · 8 August 2006 at 7:02PM

if you have a UK pay pal and a Overseas Pay Pal account you can move money using that and it works out very cheap

damo101 · 8 August 2006 at 10:55PM

I sent a post order to someone in Hong Kong for payment a while back, not quite the same but it might be an option but depends on the company of course.

HTH
Damo

JohalaReewi · 9 August 2006 at 12:50PM

Martin did an article on this

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1114428796,22175,

The cheapest way to send small amounts of money is via Paypal. The person you are sending the money to will get charged Payapal fees but these will be in the region of 5% so you can send extra to cover this (if they agree).

However, it looks as if you are setting up a business and are maybe looking to use this chinese company as a supplier. Conversely, you will be wanting the chinese company to have you as a customer. They might not be very keen to do this if you can't get money into their bank account and have to mess around with Paypal. In the wider scheme of things, the £25 fee is not just for the money transfer but is also a learning experience for you and shows that you are reliable to your potential supplier. It is also a business expense

kenshaz · 9 August 2006 at 6:49PM

why not use https://www.moneycorp.com

Sending Money abroad to a bank

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