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Different conversion rates applied for SEPA transfer
d_ziakas
Posts: 1 Newbie
Hi all,
I would like help for the below please.
One month ago I transferred money from Prague Czech rep. where I work to Athens Greece.My account in Prague is with the local currency ie Czech crowns.
The amount I sent had to be converted to euro with their sell rate and sent to its destination.Unfortunately the information about the beneficiary was not clear from my side so the transaction was rejected and the euroes were sent back to my original account in Prague from Greece.
I was expecting to have the same amount in czech krowns but the local bank applied its buy rate for the conversion of euro currency back to crowns so I had a financial loss.
After filing a complaint with the czech bank they replied that everything was done according to law from their side so they cannot provide a reimbursement.My question is the following:
Is this how money transfers are done?Clearly the bank made a profit by applying two different rates for the same amount in euroes.Am I eligible for a refund in the difference from the different applied rates?
Thank you for your time
I would like help for the below please.
One month ago I transferred money from Prague Czech rep. where I work to Athens Greece.My account in Prague is with the local currency ie Czech crowns.
The amount I sent had to be converted to euro with their sell rate and sent to its destination.Unfortunately the information about the beneficiary was not clear from my side so the transaction was rejected and the euroes were sent back to my original account in Prague from Greece.
I was expecting to have the same amount in czech krowns but the local bank applied its buy rate for the conversion of euro currency back to crowns so I had a financial loss.
After filing a complaint with the czech bank they replied that everything was done according to law from their side so they cannot provide a reimbursement.My question is the following:
Is this how money transfers are done?Clearly the bank made a profit by applying two different rates for the same amount in euroes.Am I eligible for a refund in the difference from the different applied rates?
Thank you for your time
0
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