Buyer From Germany

SHEILA54

Hi

I have sold an item of clothing to a person from Germany and they want to pay by bank transfer. They have got 4 feedback. Can this be done and is it safe for me to give out bank details?

Thanks

andreweastell

There is no problem at all, I use it as much as possible. The Germans are very keen on bank transfers and no Paypal fees.
Andrew

aqueoushumour01

they'll need your swift and iban code. you may have to phone your bank to find out what the swift/bic code is.

digerati

Germans can send you payment by international bank transfer FREE OF CHARGE provided they send payment in Euros using your BIC + IBAN details (which are printed on your UK bank statement) with Shared costs selected. Simply convert the £ total (including S&H) to Euros. Most bank transfers from the EU take between a few hours to several business days to be credited to your UK bank account.

Provided the transfer is made in Euros there will be minimal exchange rate losses. For example when €100.00 was sent via BIC + IBAN from several countries within the EU Euro Zone, (at the prevailing inter-bank exchange rate some time ago), it converted to GBP £67.60.

Amount actually received at UK bank:
Barclays £67.25
Midland £66.60
Smile £66.60
Natwest £65.90*
RBS £65.90*
* deducted £1.00 for confirmation letter of incoming transfer.

Hope this helps! :-)

cranhill

You are giving no more details than you would if you had sent a cheque for an eBay item you had won. All they need is account name, sort code and account number. There should be no problem, I have used this system a few times myself. The transfer should be in Briitish Pounds as was the eBay item.

digerati

cranhill wrote: »

All they need is account name, sort code and account number. There should be no problem, I have used this system a few times myself.

A buyer in the Euro zone will be unable to send you a transfer by simply using your basic account details (account name, sort code and account number). The international bank transfer system changed last year and now requires BIC + IBAN for all transfers within the EU. If you try and make a transfer without BIC + IBAN most banks will now automatically reject it, or failing that charge you a hefty £10-20 fee to lookup the correct info.

cranhill wrote: »

The transfer should be in Briitish Pounds as was the eBay item.

This way is guaranteed to not be free. The sending bank will levy a charge as will any intermediary banks as well as the receiving bank. By contrast a transfer in Euros is free of charges in most EU states (see EU/EEA directive 2560/2001 or ask your bank for details about free bank transfers within the EU/EEA).