Charges for receiving payment in Euros into a UK bank account
I'm expecting a fairly chunky payment from an institution in the Republic of Ireland over the next couple of weeks. I'm struggling to find out how much it will cost me to receive it.
According to my bank's website, SEPA receipts are £0, according to the man I spoke to in-branch they charge £20 'but you'll get stung on the exchange rate'. And generic advice on the internet is 'most banks charge 3-4% of the total transfer.' That would amount to about €30,000.
I don't know if facilities like Wise are routinely used by institutions? It would certainly save me a bob or two.
I have a current account in Ireland, so wondering whether it would be better to have the money sent to that account, then I can use Wise myself for the transfer - but for the last 13 years it's only been used to service one direct debit, so likely to flag up all sorts of issues if a chunk of money arrives into it and then is immediately transferred to a UK account!!
No longer a spouse, or trailing, but MSE won't allow me to change my username...
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