Same-bank international transfers?

intalex

Hi,

I'm sorry if this has been covered elsewhere, but I couldn't find any information relating to it after an hour of searching the forum.

Would it be any cheaper to do an international transfer from a Barclays account in the UK to a Barclays account in Africa? What charges would be applied in this transfer?

What about a transfer from a Standard Chartered account in the UK to a Standard Chartered account in Africa?

The amount I'm thinking of transferring each month is around £300 - £350.

Advice will be much appreciated !!!

PS> I've posted this in another thread, but thought it might be more appropriate here.

jonesMUFCforever

In a word no!
It all depends on which 'correspondents' bank YOUR bank uses that makes the transfer to Africa. It does not follow that Barclays UK would use Barclays in Africa or Standard bank.

intalex

Cheers for the response ejones999.

A correspondents bank? If that's the case for a same-bank transfer, is it safe to assume that it'll also be the case for any international transfer from one bank to another?

That probably makes moneybookers the cheapest option available, which would have to be done manually each month instead of setting up a standing order of some sort.

Anyone with any other ideas to minimise charges and automate the process on a monthly basis?

kenshaz

Why not use https://www.moneycorp.com I use them and they are very reliable, need to consider the exchange rate,try other companies like the above and compare rates offered,they will also set up an automatic direct debit every month to send funds,also compare transfer rates

High street banks charge high commision and give low exchange rates as a generalisation

intalex

kenshaz wrote:

Why not use https://www.moneycorp.com I use them and they are very reliable, need to consider the exchange rate,try other companies like the above and compare rates offered,they will also set up an automatic direct debit every month to send funds,also compare transfer rates

High street banks charge high commision and give low exchange rates as a generalisation

Just had a quick look at the site. Don't think I've seen anything as convenient and cheap as this (especially guaranteeing no receiving charges at destination bank account). Hence, a big thanks to you kenshaz.

Will go through the finer details later today, and hopefully, set up a transfer with them.