Mobile menu

Bank transfers in the Eurozone
Thread poster: Tim Drayton

Tim Drayton  Identity Verified
Local time: 00:27
Turkish to English
+ ...
Jan 18, 2008

Cyprus entered the Eurozone at the beginning of this year. I welcomed this development because I do a lot of business with Eurozone countries. I thought this would mean that I could receive transfers in euros to my bank account in Cyprus at no extra cost. However, I have just received a notification letter from my bank concerning a transfer in euros from a Eurozone country (France) which has been paid into my account and I see they have deducted EUR 1.71 by way of "Cost of Advice" and EUR 4.00 by way of a "Processing Fee". I receive the full amount of bank transfers originating from Cyprus. I thought it wasn't supposed to be this way. Should I be complaining?

Direct link Reply with quote

Ralf Lemster  Identity Verified
Local time: 23:27
English to German
+ ...
Obtain the payment confirmation from the payer Jan 18, 2008

Hi Tim,
The rules for standard eurozone cross-border payments (which must not cost more than a domestic euro transfer) only apply for electronic payments made using IBAN & BIC. Before you file a complaint with your bank, I suggest to obtain a copy of the payment confirmation from the payer (if at all possible). This should allow you to tell if (i) the payment was made electronically, and (ii) IBAN and BIC were used.

HTH, Ralf

Direct link Reply with quote

To report site rules violations or get help, contact a site moderator:

You can also contact site staff by submitting a support request »

Bank transfers in the Eurozone

Advanced search

Translation news

Protemos translation business management system
Create your account in minutes, and start working! 3-month trial for agencies, and free for freelancers!

The system lets you keep client/vendor database, with contacts and rates, manage projects and assign jobs to vendors, issue invoices, track payments, store and manage project files, generate business reports on turnover profit per client/manager etc.

More info »
The words you want Anywhere, Anytime

WordFinder is the market's fastest and easiest way of finding the right word, term, translation or synonym in one or more dictionaries. In our assortment you can choose among more than 120 dictionaries in 15 languages from leading publishers.

More info »

All of
  • All of
  • Term search
  • Jobs