Barclays charges for incoming euro transfers

george333_2

So, I have an account in a european country, and I want to tranfer an amount (~10.000e) to my barclays Cash Card Account.

MY european country bank, can send the funds with many ways up to my choosing:
1) SEPA transfer using their ebanking (charge for the transfer on their side: 0.5euro)
2) normal transfer from a branch, in either euros or sterlings (charge ~20euro (SHA), +10euro for complete charge including the receiving banks charges (OUR))
3) a number of other classical ways, bank cheques etc


The problem is that there is no mention in Barclays site or anywhere else, what are their charges for incoming tranfers to a normal (not bussiness) account.
1) What will be the exchange rates in case I decide to make the transfer in euros?
2) What will I be charged extra for receiving the funds? Will there be a constant charge, eg. 6 pounds per transfer, or something like a percentage of the amount?

I had run a test some days ago:
I made a 100e SEPA transfer from my european bank to barclays.
My european bank charged me only 0.5e.
When the funds arrived, 3 days later, 80.86 pounds had been paid into my account.
2 days after that a letter was sent to me to inform me of the transfer from barclays. In there the only information was "Exchange rate 1.2367" - Date 13/01/2011.
No mention of other charges - I guess they included them in the exchange rate?

On 13/01/2011 the normal exchange rate was 1.19 or, so there is a 0.04 difference which is quite big imo.

What I'm afraid is that, if there really is a +0.04 on the rate charge for incoming SEPA transfers, If a make a 10.000e transfer the charge will be 400 euros - not a small amount at all for a simple transfer...

What do you suggest?

What will be the most cost-effective way to transfer 10.000euros from my european account to my barclays cash card account?

I should note that my european bank has quite 'good' exchange rates, in comparison to most british banks. But then again barclays does not mention any exchange rates in their site to compare!

NFH

george333 wrote: »

The problem is that there is no mention in Barclays site or anywhere else, what are their charges for incoming tranfers to a normal (not bussiness) account.
1) What will be the exchange rates in case I decide to make the transfer in euros?
2) What will I be charged extra for receiving the funds? Will there be a constant charge, eg. 6 pounds per transfer, or something like a percentage of the amount?

1. The rate will be determined by Barclays and as you've found will include a huge margin.
2. I believe you'll be charged £6 for incoming foreign payments above £100. This is what Barclays charge on their EUR accounts, but they forget to mention this fee in their GBP list of charges.

For larger amounts, you're much better off using a firm like Halo Financial who coincidentally use Barclays Capital for their FX but at wholesale rates rather than retail rates. You pay the EUR to their EUR account at Barclays London, and they pay the GBP to your GBP account at Barclays.

tommy45

<£100 equivalent – nil
£100 and above equivalent – £6
Payments received in euros from Europe
up to €50,000 where the remitter has

quoted your IBAN and SWIFTBIC – nil

from their pdf on euro charges for currency accounts would sugest the charges would only stand if those details where not given to the person /company paying funds into your account ,http://www.barclays.co.uk/cs/Satellite?blobcol=urldata&blobheadername1=Content-Type&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobheadervalue2=attachment%3B+filename%3Deuro-currency-charges-9955376.pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1259857504700&ssbinary=true