International Money Transfer cost 25 euro

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shipibo

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A Chairde,


Transferred money from my Ulster Bank Current A/C to my KEYTRADE a/c for the first time, I asked how much this would cost, and was quoted 51 cents, so transferred the money.

Got a debit note today for 24.50 euro from Ulster Bank, this has happened before to me when I transferred money into my AMEX A/C , on both occasions , nobody stated these fees ( this is why the second time I asked!!)

I want to claim this money back, has anyone had this experience before, and what did they do.
 
If you asked them directly what are my fees for this and they gave you totally wrong information upon which you based your financial decision then write a letter to the manager and then to the ombudsman if that fails.
 
Since 1 July 2003, cross-border bank transfers in euro within the EU legally must cost the same as domestic transfers.All you need to do quote the BIC/IBAN no of the recipient account on the transfer. You did do this, did you? The original ceiling was 12,500, but since 1 Jan 2006 it’s 50,000 euro.
 
PMU said:
Since 1 July 2003, cross-border bank transfers in euro within the EU legally must cost the same as domestic transfers.All you need to do quote the BIC/IBAN no of the recipient account on the transfer. You did do this, did you? The original ceiling was 12,500, but since 1 Jan 2006 it’s 50,000 euro.
Click to expand...

Whats your source here, any links?
That means it's free for me then as I don't pay transfering between domestic accounts.
 
It's from EU Regulation (EC) No 2560/2001 of 19 December 2001 on cross-border payments in euro.

Artilce 3 specifies that charges levied by an institution in respect of cross-border credit transfers up to EUR 12,500 shall be the same as charges levied by the same institution in respect of corresponding credit transfers in euro within that member state. With effect from 1 Jan 2006 the amount is raised to EUR 50,000.
 
hattrick_12a said:
Whats your source here, any links?
That means it's free for me then as I don't pay transfering between domestic accounts.
Click to expand...

I don't think this is the case. Your bank are 'waiving' the charge because you hold a current account-if you walked in off the street you would have to pay for transferring money within Ireland.

By all means you can challenge them-but I would be surprised if international transfers are free as a matter of course.
 
I have a BOI Interpay form in front of me. Interpayplus/Normal with BIC and IBAN is 50 cent, Interpayexpress/Urgent with BIC and IBAN is €25.35. The corresponding charges without BIC and IBAN are €12.70 and €30.45. Does this throw any light on it for you?
 
A Chairde,

Thanks for the replies, spoke to them, they said it was for a same-day transfer, I said I did not request a same day transfer, and wanted the money back in my account.

When they get back to me , I will update mail.
 
I had the same problem with Ulster Bank when paying a supplier in Germany I had to fight them all he way as all my payments where under 50K and should have only had to pay 51cent but they tried twisting their excuses to me for months. I tried ringing their head office and they didn't want to get involved they said it was my local branch that should deal with it. Eventually I pointed out Website www.ifsra.ie and they had to back down when they saw the details that were posted under their name but still tried to say I had specified a day and the bank details were wrong. It left a bad taste in my mouth I will be reviewing my business with them
 
Just to finish this thread,

Contacted bank using information in thread, ombudsman,IFSRA , eventually got someone who would deal with me, sent him copies of original money transfer forms, and got money back last week.


Advice: write on form you do not require addtional services, and cost of service (51 cents for me)


Thanks to all who contributed.
 
There really is no excuse for banks not knowing the EU rules on cross-border payments.

All you need to know is at:

[broken link removed]
 
reading your experiences makes my blood curl
because I remember my own stories with IBAN transactions
at Ulsterbank Dorset St branch.
EVERY single time I applied for such transactions I had problems
and I at least had to make several phonecalls
to get them carried out in the end.
Also some of the staff there appear to be very arrogant and incompetent.
(now come to think about it, every time I had to go in there
for anything more complicated than making a lodgement
I seem to have had bad experiences, at least with staff attitude!)
 
Yes with Ulsterbank you MUST write 2 day value in the required date field. Unless you ask about the fees there is no way of knowing that they will charge a higher amount for same day transfer.
 
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