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Sending money to a German bank account
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Tartanneil
Posts: 3 Newbie
I need to make a regular monthly payment to a bank account in Germany.
My UK bank will charge £9.50 per transfer and the transfer is done in two days.
I like the speed and security of using my bank but over time all those £9.50 payments add up. What other options are available to me?
Thanks in advance.
My UK bank will charge £9.50 per transfer and the transfer is done in two days.
I like the speed and security of using my bank but over time all those £9.50 payments add up. What other options are available to me?
Thanks in advance.
0
Comments
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As far as I know, all UK banks make a similar rapacious charge of around £10 and upwards for sending a SEPA Credit Transfer (of euro) to an account in the EU. They get away with this because there is no cheap means of transferring euro within the UK.
xe.com has a somewhat mysterious claim here (click on Free Transfers)
http://www.xe.com/fx/benefits.php
that will they do an 'electronic funds transfer' (via an Automated Clearing House) free to several countries including Germany. Possibly this means that xe.com do a SEPA Credit Transfer from an account they have with a bank in the eurozone which (as is common) does SEPA Credit Transfers free. If so, xe.com are wrong in stating that it will take longer than a legacy 'wire' (so-called 'SWIFT') transfer. Or possibly xe.com have a German bank account and use a slow (and obsolescent?) domestic transfer within Germany.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
The Post Office offer a "fee-free" international payment service (minimum amount £250). Has anyone any experience of it?
http://www2.postoffice.co.uk/finance/making-payments/post-office-international-payments0 -
Why pay monthly - can you not send quarterly or half yearly?0
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