Transfer to Spanish Halifax account in £ sterling

carolineb23

Hi
I need to make a payment from a halifax account to a Halifax Hispana account. I see the online fee for international transfer is £9.50. Something I can't figure out from the website is that I have been asked to pay in sterling, will this be converted to euros when the money hits the recipients account? And will I have to pay another fee for this?
Thanks
Caroline

gt94sss2

carolineb23 wrote: »

Hi
I need to make a payment from a halifax account to a Halifax Hispana account. I see the online fee for international transfer is £9.50. Something I can't figure out from the website is that I have been asked to pay in sterling, will this be converted to euros when the money hits the recipients account? And will I have to pay another fee for this?

Are both accounts in your own name?

If so, Halifax's website states that they allow free electronic transfers between Halifax bank accounts and Banco Halifax Hispania bank accounts

Regards
Sunil

will-in-estoril

gt94sss2 wrote: »

Are both accounts in your own name?

If so, Halifax's website states that they allow free electronic transfers between Halifax bank accounts and Banco Halifax Hispania bank accounts

Regards
Sunil

If the transfer is for small amounts go ahead; for larger amounts I would urge caution. Find out what exchange rate HBOS uses first.

Specialist currency brokers also can offer free transfers, but may be able to better the rate.

carolineb23

Hi,
Thanks for your replies. The payment I am makimg is for an apartment for next year's holiday and therefore not in my name, so I know we would need to pay the swift charge. I am just unsure whether we would be liable for more charges from the receiving bank.

carolineb23

Hi,
Does anyone know if I would be liable for any charges frm the receiving bank, and how I can find out what these will be? Transfer is Halifax to Halifax Hispana, receiving account not in my name.
Thanks,
Caroline.

jambosans

carolineb23 wrote: »

Does anyone know if I would be liable for any charges frm the receiving bank, and how I can find out what these will be?

Depends what you mean by liable. If you have agreed to pay any and all charges, then yes, you are liable. Keep in mind though, any further charge would be applied to the Banco Halifax Espania Account when the payment reached Spain - so in that regard, the beneficiary is liable.

As for the charge amount, according to Group 10 on this link from the Banco Halifax Espania Wesbite, they charge only if you do not use an IBAN ad BIC. Have a read of it yourself, but basically I get the impression that as long as Halifax are sending the funds in Euros using an IBAN and BIC, Banco Halifax Espania do not charge when it arrives.

Hope that link helps, it has all the information you need. Alternatively you can contact Banco Halifax Espania on 0845 600 3603 (that's their UK Customer Services number, open 9am to 5pm).

Also just to clarify: when you transfer internationally via Internet Banking you will be quoted the Euros equivalent of the Sterling amount you wish to send (or vice-versa). The £9.50 fee will be applied, and debit your bank account along with the Sterling amount. Any charge by Banco Halifax Espania I would imagine is charged to the beneficiary account in Spain.

Edit: Just a thought: does the person with the Banco Halifax Espania Account have a UK Halifax Account? If so, you could transfer the money to that account (free of charge) and they could transfer the money to their Spanish account (free of charge). Would save you £9.50.

carolineb23

Thanks very much for your help Jambosans. The beneficiary unfortunately doesn't have a Halifax UK bank account so I know I will have to pay the £9.50 transfer fee, I just wasn't sure if I would end up paying more fees from the receiving bank as nothing seems to be too clear on this point.
Thanks again,
Caroline.