SEPA or SWIFT bank transfer?

bery_451

Local to me are:

- Barclays
- TSB
- Royal Bank of Scotland
- Tesco Bank

Im looking to open a bank account at 1 of the bank's shown above.

Which bank is the cheapest and fastest for SEPA?

Which bank is the cheapest and fastest for SWIFT?

Which is better, SEPA or SWIFT?

Or is there any other cheaper/faster way to do SEPA or SWIFT in GBP?

Cheers,

PeacefulWaters

How much are you looking to transfer and how often? And where to?

grumbler

PeacefulWaters wrote: »

... And where to?

To Europe. Does it matter what country exactly?

mwarby

bery_451 wrote: »

Local to me are:

- Barclays
- TSB
- Royal Bank of Scotland
- Tesco Bank

Im looking to open a bank account at 1 of the bank's shown above.

Which bank is the cheapest and fastest for SEPA?

Which bank is the cheapest and fastest for SWIFT?

Which is better, SEPA or SWIFT?

Or is there any other cheaper/faster way to do SEPA or SWIFT in GBP?

Cheers,

Can you not Google and find out the charges and compare yourself ?

As i understand it SWIFT is international (world wide) and SEPA is EU only. I think SEPA maybe euro only

PeacefulWaters

grumbler wrote: »

To Europe. Does it matter what country exactly?

Your assumption that it's Europe.

Anthorn

bery_451 wrote: »

Local to me are:

- Barclays
- TSB
- Royal Bank of Scotland
- Tesco Bank

Im looking to open a bank account at 1 of the bank's shown above.

Which bank is the cheapest and fastest for SEPA?

Which bank is the cheapest and fastest for SWIFT?

Which is better, SEPA or SWIFT?

Or is there any other cheaper/faster way to do SEPA or SWIFT in GBP?

Cheers,

Within the E.U. SEPA, outside the E.U. Swift. It's likely but not certain that the bank will attempt to automatically use the best method as they do with FPS within the U.K. Transferwise offer several transfer methods including SEPA and Swift.

eDicky

bery_451 wrote: »

way to do SEPA or SWIFT in GBP?

Do you want the funds to arrive as GBP, or converted to the local currency? If the latter, avoid bank fees and their terrible exchange rates by using a service such as TransferWise, fast and efficient. Then SEPA, SWIFT and whoever you bank with are not relevant.

agrinnall

grumbler wrote: »

To Europe. Does it matter what country exactly?

The only basis for you making that assumption is that the OP mentions SEPA. However, as SWIFT is also mentioned it's just as likely that transfers are outside Europe. My guess, which is all any of us can do, is that transfers may be to countries both inside and outside Europe, and that the OP is looking at which bank is 'best' for both. Although as the OP asks some very peculiar questions it could mean anything or nothing!

grumbler

PeacefulWaters wrote: »

Your assumption that it's Europe.

Yes, because the OP asked about SEPA or SWIFT.

SEPA stands for Single Euro Payments Area, so payments to all countries in this area cost the same for the given bank.

agrinnall

grumbler wrote: »

Yes, because the OP asked about SEPA or SWIFT.

SEPA stands for Single Euro Payments Area, so payments to all countries in this area cost the same for the given bank.

You're relying on the semantics of a single word to justify your assumptions? I think you should stop digging and wait until the OP clarifies.

And you're being a bit condescending if you think PeacefulWaters doesn't understand what SEPA is.

bery_451

Thanks for all the replies. Yes to clarify its sending to a GBP bank account in Europe.