Bank Fee's please Help

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11 Jun 2011 00:00 by gerryinalbany Star rating in Albany , New York, U.... 30 posts Send private message

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Has anyone had a problem with Bank fee's when doing international transfers?  I'm getting ready to transfer a large amount for my mortgage downpayment. I thought I'd try transferring from Bank of America ( BOA transfers Euro's  not dollars)to my CAM Med account-worked OK but they charged me 6% on a modest E100 transfer. I'll probably wont do that again! I wanted to ask when you transfer from the UK and use abroker like Moneycorp or Anello ,or GCEN  do you get hit with any fee's? I guess being in the US and  non EU I may be more at risk then EU members- thanks any advice will be appreciated-Gerry

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11 Jun 2011 16:44 by fpegman Star rating in San Miguel De Salina.... 441 posts Send private message

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I would get a quote from a few money brokers before doing anything try FX, Currencies  Direct, Excel you could also try HSBC US site



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12 Jun 2011 15:26 by gerryinalbany Star rating in Albany , New York, U.... 30 posts Send private message

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Thanks Fred !  I am planning to use a broker , but I was curious if anyone else was hit with a "comision" For  depositing money into their account?

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13 Jun 2011 18:51 by Eva2008 Star rating in Reading. 152 posts Send private message

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If you contact the bank before making the transfer and let them know it is coming, they will not charge you.

They only charge if the incoming money is not expected.

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14 Jun 2011 00:22 by claire T Star rating in Torremendo, Orihuela. 689 posts Send private message

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Hi - some banks charge to receive more than 50,000€ in a single transaction, so it is wise to do a series of smaller transfers to avoid this fee.  If you use a currency broker then there should not be any other fees to worry about.


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14 Jun 2011 12:27 by wizzard2 Star rating in Costa Blanca. 32 posts Send private message

I had the problem of sending large amounts of cash over when purchasing my Villa,after a couple of transactions and both involved paying large amounts of commission,I made a few enquirys,via the bank etc.and came up with the answer that it wasnt the bank charging commission,but the SWIFT system,which charged on any transfer form 50,000eoros upwards,I solved my problem by transferring 49000 euros at a time,result no charges

As for smaller amounts; I use Rational FX to to buy my euros from normally in 5000 pounds at a time the rate is always close to the international bank to bank rate,I transfer the sterling into their bank account on line and my euros are normally in my Spanish account the following day.I get update e.mails from them regulary telling me if anything in the financial world is about to happen that will change the exchange rates in the near future,normally this advise has been mainly been correct

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