a Bank account with online inter. money transfeer facility ???

rqsplon

My Barclays account doesn't have this facility instead i have to pay them a visit.
Anyone knows of a bank that allows you to transfeer money worldwide online??
Many thanks.

BenL

I doubt there is a bank that will allow CHAPS payments online.

Too risky security wise, I'm working on an online banking project at work and that wouldn't get passes our information security and fraud guys.

The transactions are more complicated than a "normal" UK BACS payment as well so its best to keep off the online services.

Closest thing to what you want to do that we do is Fax.

Ben

Fatboy_NSS

Agreed, though you mean SWIFT rather than CHAPS.

International payments are not done that regularly, so it isn't worth it for the banks to make them available an as online transaction. Also non standard transactions have to be approved by hand to comply with legislation, so this would reduce any benefit of having them online in the first place.

judderman62

have you considered using paypal or similar ?

MarkyMarkD

A&L will do CHAPS (and presumably SWIFT) payments by phone, confirmed by fax. Definitely no need to go into a branch.

Walletwatch

I think most banks (if not all) will initiate CHAPS payments on your behalf over the phone, but I don't think anyone will undertake international transfers on your behalf, online or telephonically, unless it is to one of their own branches, and the country is among an 'approved' list of countries.

International transfers across banks normally involve payment via the SWIFT network, where Banks have to select the most economical route (for them and not necessarily for the ordering party) they can use to send the payment. Also these involve charges which need to be specified, whether they will be borne by the remitter or the beneficiary (in which case it is deducted from the transfer amount itself) and may involve other complications like having to make cross-currency transfers, etc.. e.g. having to join a course in the US, for which a payment transfer needs to be made in USD from a GBP account.

As these transactions are rare on the retail banking front, and more prevalent amongst corporate clients, I think it logical that banks don't really look at making these facilities available to retail banking customers. I do know for a fact that the banks I do business with do not allow these transfers.