Bank Transfer to UK

[cc1085]

Coming from Ireland I have been to an annual event in the UK for many years and could send cash/cheque etc for pre book ticket purchase. This year the tickets had to paid for by bank transfer in order to simplify things for the organisers, which is a good idea. There is normally a large overseas attendance at this event but now there is an extra bank charge of €15 per ticket because UK is now outside the EU. Does anyone know if these charges apply if Uk residents are paying by bank transfer for something in EU ? or is it just another W""""r banker rip off.

[RickH]

Coming from Ireland I have been to an annual event in the UK for many years and could send cash/cheque etc for pre book ticket purchase. This year the tickets had to paid for by bank transfer in order to simplify things for the organisers, which is a good idea. There is normally a large overseas attendance at this event but now there is an extra bank charge of €15 per ticket because UK is now outside the EU. Does anyone know if these charges apply if Uk residents are paying by bank transfer for something in EU ? or is it just another W""""r banker rip off.

I'm UK based. I have a visa card account from Revolut (https://www.revolut.com/) which lets me transfer money or pay internationally (& lets me have a "pot" of other currencies pre-exchanged if I want).

My son, who is currently living in Cork, has a WISE account (https://wise.com/) which I can transfer money to him via a UK (GBP) account number or a Euro account number. I can transfer money without fees to him from Revolut either in Euros or Pounds. I don't know if it works the other way round, to pay out from WISE, but I can check if you like (although I the details should be on the website)?

[Psamathe]

Who is making the extra charge. Your post suggests it's per ticket which suggest it's the event organisers (e.g. if a bank fee it would be per transfer). And if a fee by the event organisers it would depend on what the event is (maybe contact the event organisers).

If it's a bank fee then it almost certainly would depend on the bank. In the UK different banks have different fees/changes for different things.

Ian

[francovendee]

Slightly different, but if I use my Revolut card at a cash point in France I get a 5€ charge.
This is in spite of having £ and € in my account and the card registered to my French address.
I found I had the same charge when using the card in Portugal.
I'm wondering if banks are slowly adding a cost to having a bank account even if it's in credit.

[Will]

I have had to do bank transfers in the past to pay deposits for campsites in Europe and have experienced the same issue with bank charges. I now use a system called Wise to transfer small amounts:

https://wise.com/

The system works by using a local bank (in the country you are transferring the money to) to make the payment. You simply create an account in the app for that currency, upload some some money using your debit card or bank account, transfer the money into the local currency account you created, and then pay the recipient (in that local currency) using their IBAN number. The exchange rate you get is the one published, not the lower one that your bank will give you, and the fee for a transfer is much lower (example: A transfer of £100 will cost you 64p). You only need one account for the Euro zone.

The transfer normally takes a day or two to complete, but I have found it to be reliable.

Will

[Psamathe]

I have had to do bank transfers in the past to pay deposits for campsites in Europe and have experienced the same issue with bank charges. I now use a system called Wise to transfer small amounts:

https://wise.com/

The system works by using a local bank (in the country you are transferring the money to) to make the payment. You simply create an account in the app for that currency, upload some some money using your debit card or bank account, transfer the money into the local currency account you created, and then pay the recipient (in that local currency) using their IBAN number. The exchange rate you get is the one published, not the lower one that your bank will give you, and the fee for a transfer is much lower (example: A transfer of £100 will cost you 64p). You only need one account for the Euro zone.

The transfer normally takes a day or two to complete, but I have found it to be reliable.

Will

When I've had to do it for French camp sites the fees have come from the booking site rather than my bank.

EDIT: Correction: I've done the bank payment thing through Debit Card not a "transfer" so maybe different fees.

Ian

[plancashire]

...
I'm wondering if banks are slowly adding a cost to having a bank account even if it's in credit.

In Germany it is normal to pay an annual charge for a current account. I suspect the UK may be an outlier in that banks once offered "free" current accounts and cannot get out of it for reasons of competitiveness. They make their money in other ways.

[simonhill]

More info would be useful. Who exactly is charging this €15 for a start. The organisers, your bank, their bank. What percentage of the ticket is €15 ???

If there are lots of overseas visitors and this is a large event then maybe they should have got their act together better.

Like many I use my credit card abroad all the time. Apart from some possible overseas transaction fees set by your bank of 2-3% (I don't pay any on my card), a minimal foreign exchange in built fee of about 0.1% from MasterCard, you don't pay any extra. 'The card' pays the supplier (hotel, airline, supermarket, etc) in local currency and I pay it off in £s.

I don't use my debit card cos it's cheaper to use my credit card, but I'm pretty certain it would be similar.

If the event organiser is unable or unwilling to set up a system to accept cards that doesn't charge all these people €15, maybe I'd just stay at home.

Have you spoken to them, are they aware, ???

[cc1085]

More info would be useful. Who exactly is charging this €15 for a start. The organisers, your bank, their bank. What percentage of the ticket is €15 ???

If there are lots of overseas visitors and this is a large event then maybe they should have got their act together better.

Like many I use my credit card abroad all the time. Apart from some possible overseas transaction fees set by your bank of 2-3% (I don't pay any on my card), a minimal foreign exchange in built fee of about 0.1% from MasterCard, you don't pay any extra. 'The card' pays the supplier (hotel, airline, supermarket, etc) in local currency and I pay it off in £s.

I don't use my debit card cos it's cheaper to use my credit card, but I'm pretty certain it would be similar.

If the event organiser is unable or unwilling to set up a system to accept cards that doesn't charge all these people €15, maybe I'd just stay at home.

Have you spoken to them, are they aware, ???

Nothing to do with the organisers. Ticket price is €35, and that is what my bank transfers to them. The extra €15 is a bank charge because it is to a Country outside the EU. I'm in Republic of Ireland. If the event were in France Germany etc then no extra charge would apply.

[gaz]

A brief google finds Bank of Ireland's charges for International Services.

BoI.png

A personal customer of BoI using online banking can pay either € or £ to the UK without fees.

If you use online banking it may be worth double checking the charges with your own bank.

[Will]

Nothing to do with the organisers. Ticket price is €35, and that is what my bank transfers to them. The extra €15 is a bank charge because it is to a Country outside the EU. I'm in Republic of Ireland. If the event were in France Germany etc then no extra charge would apply.

I don't think it is to do with the EU, but the Eurozone. If you tried to do a bank transfer to another country in the EU that isn't in the Eurozone (such as Denmark) then your Bank would still charge you for it. I have transferred money via my Bank to other countries in the EU (when the UK was still a member) and was charged a similar amount (which is why I started using Wyse to transfer small amounts).

Will

[cc1085]

Nothing to do with the organisers. Ticket price is €35, and that is what my bank transfers to them. The extra €15 is a bank charge because it is to a Country outside the EU. I'm in Republic of Ireland. If the event were in France Germany etc then no extra charge would apply.

I don't think it is to do with the EU, but the Eurozone. If you tried to do a bank transfer to another country in the EU that isn't in the Eurozone (such as Denmark) then your Bank would still charge you for it. I have transferred money via my Bank to other countries in the EU (when the UK was still a member) and was charged a similar amount (which is why I started using Wyse to transfer small amounts).

Will

Feckin' ( )bankers . Thanks for that advice, I'll use Wyse in future. Cheers.