IBAN/BIC payments, charges & reversibility?

lcw295

thanks for advice but i didnt have a choice thats how the buyer set it up .
He was commited to pay me Euros from USA
rate on 21/5/2013 (bank of england,reuters etc sites) 1.1740
Royal Bank of Scotland took 1.1940 . total lost now 3030.00 euros approx
i am trying to get answers , but nobody is helping.
Bank charged 7.00 pounds for transfer .

martindow

Did you receive it in Pounds? If so there may have been two conversions USD - EUR and then EUR-GBP. Each would involve a loss as every bank makes something on currency conversion - banks buy and sell at different rates either side of the conversion rate. What percentage of the sum transferred is EUR 3030?