SEPA or SWIFT bank transfer?
Comments
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Thanks for all the replies. Yes to clarify its sending to a GBP bank account in Europe.
That doesn't clarify - as not all countries in Europe are part of SEPA.
It would help you obtain a correct answer if you were specific with the question.The questions that get the best answers are the questions that give most detail....0 -
Come on... It's very clear now. £-->£ transfer from UK to a country in SEPA.
My question is why it is a £ account outside UK, not a € account. What's the point?0 -
Its a £ account in europe so customers from england can transfer £ into it without involving foreign exchange fees.0
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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.0
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PeacefulWaters wrote: »And? When the OP asked "which is better?" I thought it reasonable to ask a question to try and establish what is trying to be achieved.0
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Ok which is the cheapest/fastest for SEPA into a £GBP account?0
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I think nobody knows the answer simply because nobody transfers ££ to a £ account in Europe.
I can only ask again: why does it have to be a £ account on the other side, not €?0 -
Evolution, not revolution0
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I think nobody knows the answer simply because nobody transfers ££ to a £ account in Europe.
I can only ask again: why does it have to be a £ account on the other side, not €?
The OP has already said it's to allow people to send GBP abroad without incurring exchange fees. But using a bank branch for the transfer will be expensive. For example a non-urgent SEPA payment sent at a Lloyds Bank branch costs £19. But online with transferwise it's free but only to local currency accounts.
https://transferwise.com/help/article/1663579/euro-transfers/what-are-sepa-transfers
Grumbler is correct, can't send GBP. Need a local currency account.
Paypal would simplify the process but you'll still need an account in the local currency.0
This discussion has been closed.
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