international bank transfer

Has anyone received a payment by international bank transfer?

i have had a buyer from Belgium asking about this. I have contacted my bank and they said I needed a swift code.

Does anyone know how long this transfer takes?

Thankyou

Patchwork cat

Comments

  • mccawz
    mccawz Posts: 43 Forumite
    I received a International Bank Transfer from Germany this month.
    It was sent on a Monday and showed up in my bank account on Thursday.

    You need to give your buyer your IBAN (International Bank Account Number) and BIC/Swift Code.

    Both can be found on your bank statement.

    eg. my swift code (for Bank of Scotland) is BOFSGB21348
    my IBAN is GB11 BOFS .....followed by my sort code and account number.

    No additional charges were made to my account.
    Although, I should have received £26 but I got £27.72 so my buyer must have paid in 40 Euros @ 1 Euro = £0.693.
    Smile and be happy, things can usually get worse!
  • Has anyone received a payment by international bank transfer?

    i have had a buyer from Belgium asking about this. I have contacted my bank and they said I needed a swift code.

    Does anyone know how long this transfer takes?

    Thankyou

    Patchwork cat


    strange your bank didnt think to mention, even if you didnt ask.

    anywhere between 3-5 working days would be expected.
  • stavros_2
    stavros_2 Posts: 772
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    Watch out for bank charges though, although mccawz didn't get charged, I got charged £1 for mine. Obviously not alot but if you're looking for the payment and are confused why it's less than it should be...
  • soolin
    soolin Posts: 72,043
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    stavros wrote:
    Watch out for bank charges though, although mccawz didn't get charged, I got charged £1 for mine. Obviously not alot but if you're looking for the payment and are confused why it's less than it should be...

    There shouldn't be a charge for receiving a foreign bank transfer as long as the payment is received in sterling, all the charges should be applied to the sending end of the transaction. The only charges would be if the sender sent it in thir own currency and it needed to be converted this end.

    It might be worth double checking with each individual bank and if you have more than one bank account using the bank that doesn't apply charges to the receiving end.

    Soo
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  • patchwork_cat
    patchwork_cat Posts: 5,874 Forumite
    thank you

    I thought that the person at the call centre didn't know what he was talking about - despite putting me on hold for 10+ mins. I didn't know i had to put my international bank account no and the swift code he gave me is different to the one on the top of my statement!
  • thank you

    I thought that the person at the call centre didn't know what he was talking about - despite putting me on hold for 10+ mins. I didn't know i had to put my international bank account no and the swift code he gave me is different to the one on the top of my statement!


    sorry i missed this from mccawz first time
    You need to give your buyer your IBAN (International Bank Account Number) and BIC/Swift Code.

    Both can be found on your bank statement.

    eg. my swift code (for Bank of Scotland) is BOFSGB21348
    my IBAN is GB11 BOFS .....followed by my sort code and account number.


    your bank statement will show an IBAN and a BIC (bank identifier code). not quite the same. the swift code is not on your statement so go with what they told you (maybe phone back and double check)

    as soolin says there shouldnt be charges for receiving unless its sent in euros as opposed to sterling (in which case your swift code needs to reflect that anyway) so make sure you know how the sender is sending it.


    hth

    DC
  • stavros_2
    stavros_2 Posts: 772
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    soolin wrote:
    There shouldn't be a charge for receiving a foreign bank transfer as long as the payment is received in sterling, all the charges should be applied to the sending end of the transaction. The only charges would be if the sender sent it in thir own currency and it needed to be converted this end.

    It might be worth double checking with each individual bank and if you have more than one bank account using the bank that doesn't apply charges to the receiving end.

    Soo

    hmm thanks for that soo. I don't really know what happened there then. I got a letter from the bank saying I had been charged £1 for the transaction? I'm not really that bothered as it was only a small percentage of the final price. Will keep an eye out in future
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