IBAN numbers / International payments

WidowTwanky_2

born_again said:

WidowTwanky_2 said:

Ayr_Rage said:

@WidowTwanky_2 what do you define as "large" ?

I have sent numerous transfers of around £45,000 to Thailand (that is the single transfer limit) without any issues and have save £100s as compared to using SWIFT via my bank.

Well, not that large, nowhere near, but a significant amount were I to lose it. The issue really does seem to be around the fact that it's going to an intermediary bank to be sent on. I've already paid once, through my bank, only to have the funds returned.

Oversea's payments go via a or more than 1 intermediary bank. As there is no direct link, between banks.

Sorry. I wasn't clear. The bank is an intermediary between itself and the final destination, and this is what my bank is having issue with. They want to know more about the final destination.

Hoenir

WidowTwanky_2 said:

born_again said:

WidowTwanky_2 said:

Ayr_Rage said:

@WidowTwanky_2 what do you define as "large" ?

I have sent numerous transfers of around £45,000 to Thailand (that is the single transfer limit) without any issues and have save £100s as compared to using SWIFT via my bank.

Well, not that large, nowhere near, but a significant amount were I to lose it. The issue really does seem to be around the fact that it's going to an intermediary bank to be sent on. I've already paid once, through my bank, only to have the funds returned.

Oversea's payments go via a or more than 1 intermediary bank. As there is no direct link, between banks.

Sorry. I wasn't clear. The bank is an intermediary between itself and the final destination, and this is what my bank is having issue with. They want to know more about the final destination.

The US has a highly fragmented banking sector. Beneath the well known top 15. There are some 5,500 regional banks. Routing will have to go through one of the international operators. Then down through the chain. 

danco

Generally speaking (though this is usually between UK banks) if I have a large sum to transfer I just send a fairly small amount and if this goes through Ok I then send the remainder. Would that work for you?

For payments to the USA (the only international ones I have made) I use XE.

born_again

WidowTwanky_2 said:

born_again said:

WidowTwanky_2 said:

Ayr_Rage said:

@WidowTwanky_2 what do you define as "large" ?

I have sent numerous transfers of around £45,000 to Thailand (that is the single transfer limit) without any issues and have save £100s as compared to using SWIFT via my bank.

Well, not that large, nowhere near, but a significant amount were I to lose it. The issue really does seem to be around the fact that it's going to an intermediary bank to be sent on. I've already paid once, through my bank, only to have the funds returned.

Oversea's payments go via a or more than 1 intermediary bank. As there is no direct link, between banks.

Sorry. I wasn't clear. The bank is an intermediary between itself and the final destination, and this is what my bank is having issue with. They want to know more about the final destination.

Do the same as they do..
Send a Cheque 😶‍🌫️

eDicky

I would certainly have more confidence using Wise than from Co-op with FFC involved, with major cost saving. Ask your recipient for their local ABA routing code with their bank details, and sign up with Wise. The exact amount will arrive with no deductions, converted at the perfect interbank rate, costing a transparent and reasonable % fee. Send them $10 first to make sure, if you're still hesitant.

WidowTwanky_2

eDicky said:

I would certainly have more confidence using Wise than from Co-op with FFC involved, with major cost saving. Ask your recipient for their local ABA routing code with their bank details, and sign up with Wise. The exact amount will arrive with no deductions, converted at the perfect interbank rate, costing a transparent and reasonable % fee. Send them $10 first to make sure, if you're still hesitant.

Sending a small amount first, whichever method I find works, is exactly what I'm going to do. Absolutely.