Business banking and transferring to EU via bacs

comberspud

Hello

I was just wondering if anyone else sends payments to EU countries and what your charges are.

Danske bank currently charge £13 per BACS from UK to EU.

I would send around 4-5 a month £52 + in total a month

I find this a bit much???

Marchitiello

I have not done one in over a year and I remember there was the option to do it online cheaper but paying a monthly fee (good if done multiple times or months regularly throughout the year) but HSBC business charged £9 up to £2000 I think and £30 for amounts above that. So up to £6000 I have been breaking down in multiple sub £2k payments and above that just made the one payment . Not sure if things have changed now.

agrinnall

It's nothing to do with BACS, who process domestic payments in the UK. What you are doing is either a SWIFT payment or a SEPA payment. There have been recent movements to reduce the cost of SEPA payments from the UK so I would suggest that you do a search for the cost of SEPA payments from business accounts at UK banks. Nationwide now charge £9 per transfer from most personal accounts, but business account charges may be different.

mgdavid

You could always DIY using a currency broker.
I use currencyfair.com to buy the Euros (at better than the banks' rate) and send the SEPA payment, the current cost is €3 per transaction.