Home Page
   Articles
       links
About Us    
Traders        
Recipes            
Latest Articles
Transferring money from foreign account

 
Post new topic   Reply to topic    Downsizer Forum Index -> Finance and Property
Author 
 Message
Marionb



Joined: 27 Aug 2006
Posts: 5249
Location: Mid-Wales
PostPosted: Wed Jul 24, 13 4:09 pm    Post subject: Transferring money from foreign account  Reply with quote    

My son is currently working in Canada and has opened a Canadian bank account, into which his wages are paid. He needs to transfer some of that money into his bank account in this country but tells me that he cannot just transfer it, he has to go via Travelex (for example) who charge a fee to do this.

This seems odd as I have heard of others who are abroad and making payments to people in this country, so why cant he do it?


Shan



Joined: 13 Jan 2009
Posts: 7568
Location: South Wales
PostPosted: Wed Jul 24, 13 7:27 pm    Post subject: Reply with quote    

I'm not sure about your son but I know that I can transfer from my GBP offshore account to any account in the world but I can't do the same from my UK onshore account.

Went



Joined: 19 Mar 2006
Posts: 6968

PostPosted: Wed Jul 24, 13 8:37 pm    Post subject: Reply with quote    

I thought all banks could arrange an International Money Transfer:

He will need the account numbers of the recipient account, the swift code and IBAN numbers of the recipient bank.

It can be done for any bank account as far as I am aware. There is a fee with my bank depending on the scale of transfer. A money mover like http://www.hifx.co.uk/ might be cheaper than a bank or give a better exchange rate.

Mr O



Joined: 13 Feb 2005
Posts: 5510
Location: Nova Scotia, Canada
PostPosted: Wed Jul 24, 13 9:42 pm    Post subject: Reply with quote    

Wentworth wrote:
I thought all banks could arrange an International Money Transfer:

He will need the account numbers of the recipient account, the swift code and IBAN numbers of the recipient bank.

It can be done for any bank account as far as I am aware. There is a fee with my bank depending on the scale of transfer. A money mover like http://www.hifx.co.uk/ might be cheaper than a bank or give a better exchange rate.


Very true, but it would be cheeper to use a company like Moneycorp who will charge a bit less

Shan



Joined: 13 Jan 2009
Posts: 7568
Location: South Wales
PostPosted: Thu Jul 25, 13 7:36 am    Post subject: Reply with quote    

Wentworth wrote:
I thought all banks could arrange an International Money Transfer:

He will need the account numbers of the recipient account, the swift code and IBAN numbers of the recipient bank.

It can be done for any bank account as far as I am aware. There is a fee with my bank depending on the scale of transfer. A money mover like http://www.hifx.co.uk/ might be cheaper than a bank or give a better exchange rate.


I can do it online with the offshore acc. without the bank having to arrange a transfer. The onshore charges 25 to arrange a transfer.

Went



Joined: 19 Mar 2006
Posts: 6968

PostPosted: Thu Jul 25, 13 8:32 am    Post subject: Reply with quote    

Yes I also do it directly online from my account - fees vary on amount transferred but also not the best rates from banks when converting currency.

Marionb



Joined: 27 Aug 2006
Posts: 5249
Location: Mid-Wales
PostPosted: Thu Jul 25, 13 12:53 pm    Post subject: Reply with quote    

Thanks for your replies... he has been in touch with hifx... I have suggested he has a look at moneycorp too.

He can do it via his bank but it will cost 25 per transaction which seems a bit steep!

Post new topic   Reply to topic    Downsizer Forum Index -> Finance and Property All times are GMT
Page 1 of 1
View Latest Posts View Latest Posts

 

Archive
Powered by php-BB © 2001, 2005 php-BB Group
Style by marsjupiter.com, released under GNU (GNU/GPL) license.
Copyright 2004 marsjupiter.com