Charges for receiving money from abroad

aligru

Hi there
I teach online for a company in Germany but am resident in England and the company transfer about 300 euros a month onto my account. RBS charge 7 Pounds for this transaction, which I think is way too much. I talked to RBS about reducing the charge but they were not interested. My employer says that according to the SEPA -agreement RBS should not charge me at all.
Can anybody give me some advice on this please?
Alice

noh

Your employer is incorrect. See 2.1 of
http://www.paymentscouncil.org.uk/files/payments_council/sepa/11_-_epc153-09_v3.0_sepa_for_consumers_(brochure).pdf

To save money you could get your employer to use a service such as Transferwise.com or Currencyfair.com
if they are willing to do so.

aligru

Thanks for this!
I have e-mailed my employer. Fingers crossed he will use the websites you have suggested.

Thank you!

Alice

M0ney

You could possibly ask them to pay you by cheque, I have an account with Barclays who only charge 0.5% for paying in a USD cheque and nothing if the amount is less than $50. That way you should only end up paying around £1.50 per cheque.

Buzby

The low clearance fee is balanced by an abysmal exchange rate making it uncompetitive.

Transferwise (and similar services) are considerably better than High Street banks.

BonkersBonkers

OP Sepa payments are only free if both accounts are in European union ie using the Euro.
Could they pay you quarterly instead of monthly if the fees are a problem.
Could you not increase your fees by say 10 euro to compensate?

Aquamania

BonkersBonkers wrote: »

OP Sepa payments are only free if both accounts are in European union ie using the Euro.

From the link given by noh above, I don't think that comes into it