Fineco Bank multicurrencies account

Marchitiello

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

wmb194

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

[Deleted User]

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Ok so with Revolut you’re advised that sort code & account number is for LOCAL transfers only. When you withdraw from Fineco in pounds you input sort code etc but from what I’m told it’s treated like an international payment in pounds. I wasn’t sure if this would be problematic. Could convert to EUR and send to IBAN but would lose a bit on the two conversions hypothetically.

If someone has sent pounds to Revolut with no issue would be good to know…

[Deleted User]

wmb194 said:

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

So you can send pounds to any uk account now without issue?

Band7

[Deleted User] said:

wmb194 said:

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

So you can send pounds to any uk account now without issue?

I had sent 17 monthly GBP payments from Fineco to Santander UK. Perfect. No charge. Then suddenly, the 18th payment this February was initially credited to my account but never actually cleared, and then returned to Fineco, minus £25. Neither Santander nor Fineco had an explanation. Fineco eventually credited me £25 as a goodwill gesture. I ended up withdrawing all my Fineco GBP at a UK ATM and I will never use Fineco again.

wmb194

[Deleted User] said:

wmb194 said:

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

So you can send pounds to any uk account now without issue?

It appears so *but*, based on Band7's experience, if it's returned to Fineco the returning bank may charge a Chaps fee. 

Barclays doesn't charge Chaps fees anymore so I now make withdrawals from Fineco to it.

wmb194

Band7 said:

[Deleted User] said:

wmb194 said:

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

So you can send pounds to any uk account now without issue?

I had sent 17 monthly GBP payments from Fineco to Santander UK. Perfect. No charge. Then suddenly, the 18th payment this February was initially credited to my account but never actually cleared, and then returned to Fineco, minus £25. Neither Santander nor Fineco had an explanation. Fineco eventually credited me £25 as a goodwill gesture. I ended up withdrawing all my Fineco GBP at a UK ATM and I will never use Fineco again.

The common factor in all of your tales of woe involve Santander so I'm inclined to think it's Santander that charged you and £25 is its Chaps fee so that would also make sense.

Band7

wmb194 said:

Band7 said:

[Deleted User] said:

wmb194 said:

Marchitiello said:

[Deleted User] said:

Am I correct in saying you can’t use Revolut gbp account number and sort code to withdraw funds from Fineco in pounds?

I am not sure what this means. You can make UK bank accounts payments using Sort codes and acc number from Fineco but some banks slaps a charge to receive  these payments. Someone posted a list early in this thread about which banks charges to receive payments from Fineco 

Now that Fineco makes transfers by Chaps any list early in the thread probably relates to Sepa fees so it will be out of date and incorrect.

So you can send pounds to any uk account now without issue?

I had sent 17 monthly GBP payments from Fineco to Santander UK. Perfect. No charge. Then suddenly, the 18th payment this February was initially credited to my account but never actually cleared, and then returned to Fineco, minus £25. Neither Santander nor Fineco had an explanation. Fineco eventually credited me £25 as a goodwill gesture. I ended up withdrawing all my Fineco GBP at a UK ATM and I will never use Fineco again.

The common factor in all of your tales of woe involve Santander so I'm inclined to think it's Santander that charged you and £25 is its Chaps fee so that would also make sense.

That might be so but I do not get this sort of hassle with Wise, which is also significantly faster than Fineco. Took me weeks to resolve the issue, with hundreds of pound missing for most of those weeks. It would all not have happened if Fineco used Faster Payments, like every other bank that operates in the UK does.

I am also not quite finished with Santander yet as they were entirely unreasonable about this throughout.  But it's my account of at least 12 years, so it takes some time to replace it everywhere. CASS is only a partial answer for terminating a current account.

[Deleted User]

Hi all - sorry but from the replies I’ve been unable to deduce what method Fineco use to send Sterling/what has or hasn’t changed!

wmb194

[Deleted User] said:

Hi all - sorry but from the replies I’ve been unable to deduce what method Fineco use to send Sterling/what has or hasn’t changed!

It sends by Chaps. It used to send by Sepa. Sepa deposits often attract a fee, Chaps deposits don't.