Euro transfers within the Eurozone - charges?

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DrMoriarty

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As of July 2003, banks operating within the Eurozone must charge no more for Euro transfers (under €12,500) within the Eurozone than they do for ordinary 'domestic' funds transfers (typically 50c). Good news for those who need to make small transfers on a regular basis...

However, three times in the last year, I've made transfers of in-or-around €1,000 to banks in France and Spain from my NIB current a/c. Each time, a week or so later, an additional charge has shown up, and for an apparently quite arbitrary amount:

€7.00 for a transfer of €574 to a French bank, then
€5.50 for a transfer of €1,200 to a Spanish bank, and then
€12.50 for a transfer of €1,000 to the same Spanish bank, a week later!

I asked at my branch and they said they'd had a lot of similar queries which were being referred to their International Treasury Department in the IFSC. They'd heard nothing back a month later, so I wrote in myself, in August 2004. That letter got no reply, so I wrote again in November. This time I got a very poorly-worded reply from their 'Service Recovery' manager which (a) didn't address my query, but noted that I was 'dissatisfied with the level of service afforded by my branch' - not at all the case, they're always great! (b) claimed that it was the banks in France/Spain who were responsible for the charges - which I know not to be the case, since I'd e-mailed them in the meantime and got next-day responses assuring me that this was not so, and (c) promised that a colleague in customer services would be contacting me shortly - but of course nothing of the sort has happened...:rolleyes:

I contacted my branch manager again and he admitted to being highly embarrassed at the non-response from HQ - either to me or to them! - but could only suggest that I write in yet again... :mad:

Before I do - does anyone here happen to know the name of some higher-ranking individual within NIB to whom I might CC the correspondence, and who might actually kick someone's ass hard enough to get them to reply/sort out the over-charging? (their website is pretty lean on contact details, other than eternally-on-hold 01- 'phone numbers and an email contact form that doesn't allow you send more than 500 characters...) This is a lot of hassle to be put to for the sake of €25....!


 
Would you not be better off just copying this story into a letter to IFSRA? Maybe let NIB know in advance that you're pursuing this course of action.

I don't really know what the charges could be. From a look at the BoI booklet on fees:

1. They charge substantial amounts for same day transfers
2. They charge administration fees for non routine services based on the time taken by staff to complete the transaction (€33 per hour)

[broken link removed]
 
Thanks, CCOVITCH - if nothing else, I'll copy the letter to IFSRA and (with the moderators' permission?) include a link to this thread. Hopefully the prospect of (more!) adverse publicity will stimulate some interest...:rolleyes:

I know that there are additional charges for same-day transfers and non-routine services, but this doesn't really fall under either of those headings (and in any case, the charge is different each time!)

This hasn't happened with similar transfers (a) from my BoI deposit a/c (less convenient for me, 'cause the branch is a half-hour walk from work, whereas NIB is just around the corner), or (b) even when transferring amounts from the recipient Spanish a/c to my NIB a/c here!

Just hope they don't tell me to feck off and get my free banking somewhere else! ('though that's unlikely, because I'd then probably also move my mortgage... :D)
 
I may be wrong but you should check double check how you sent the money

I know someone last year who wanted to transfer money and if they had the IBAN of the account is was going to it was cents

But without there was still a charge as their was paper work handling by the banks at each end

I could be wrong and am not sure where to chck it for you

[email protected]
 
Thanks for the link, Clubman - the reference will come in handy. And stuart - yes, I know you have to have the IBAN/BIC codes to avoid surcharges. I did, in all cases.Snotty letter will be drafted later today..! :D
 
Threaten the EU commission on them for abuse of the IBAN system which demands that Inter EU Country transfers cost the same as Domestic Transfers at ALL TIMES .

Also complain to IFSRA, you have been ignored by the internal NIB compliance monkeys in the hope you will go away (like Beverley :) )
 
Same thing happen to me with Ulster Bank.

I wanted to make a foreign transfer to Germany and they outlined that the cost could be 17 euro or more. They suggested that I make an international bank draft!!
I inquired to IFSRA about the cost and they said exactly as DrMoriarty outlined.

So I went bank to Ulster Bank and ask why the transfer would cost 17 euro. Their reply was that I didn't have all these detail. I was missing the recipient name and address !!
So for the name of the person I put Unbek Annter (unknown in German) and for the address Nicht Gegeben (unspecified ) . Ulster Bank said that this was much better ( I ask you !!) and they process my transfer successfully on the same day !!!!


However they charged me 22.50euros for this ..... . this was the cost for a same day transaction within Ireland/EU !!!

I had specified that I didn't want a same day transaction and after speaking to the manager at the branch I was refunded ......

I will speak to NIB today about this as this concerns me ....... and is one of many reasons that I leaving Ulster

Summertime time and the living is easy ( for the banks) profits are jumping and margins are high ......... why I ask >>
 
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