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Question: Banking fees in Belgium and IBAN/BIC
Thread poster: Daniel Meier

Daniel Meier  Identity Verified
Local time: 00:36
English to German
+ ...
Aug 20, 2003

Does anybody know banking fees in Belgium?
My client paid my invoice over 124,- Euro from the Belgian ING to my German account. The amount was reduced by 15,- Euro (banking fees, as my client told me) although IBAN and BIC were stated on my invoice correctly.
To my knowledge the bank should in case of cross-border transactions to a EU country reduce only fees common for inland transactions (if IBAN and BIC are provided and the amount is below 12500,- Euro).
Or is it normal for Belgian banks to charge such fees?
Thanks for your input.


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DGK T-I  Identity Verified
United Kingdom
Local time: 23:36
Member (2003)
Georgian to English
+ ...
A Belgian Agency I deal with, took the line that....... Aug 20, 2003

Daniel Meier wrote:

Does anybody know banking fees in Belgium?
My client paid my invoice over 124,- Euro from the Belgian ING to my German account. The amount was reduced by 15,- Euro (banking fees, as my client told me) although IBAN and BIC were stated on my invoice correctly.
To my knowledge the bank should in case of cross-border transactions to a EU country reduce only fees common for inland transactions (if IBAN and BIC are provided and the amount is below 12500,- Euro).
Or is it normal for Belgian banks to charge such fees?
Thanks for your input.


.......under the new EU Regulation and Belgian banking procedures in response to it, they were now obliged (whether they liked it or not, by regulation) to "split the charges", ie: they pay their bank's sending charges, and the receiver pays the receiving bank's charges. (I don't know what they would say about a third bank in between, but I wouldn't expect that to apply between Belgium & Germany.) I posted a query about this a little while ago - and while I could never quite get to the bottom of whether they were right in what they said or not, they were very sure that that is now the position in Belgium - if it is, then charges for sending (if there are any?) being deducted by their Belgian bank wouldn't make sense.
Not a total answer, I'm afraid, but in the hope it's some use
Best wishes
Giuli


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Inge Geleyn
Local time: 00:36
English to Dutch
+ ...
Belgian 'rules' Aug 21, 2003

Hi Daniel

As it happens, I received a message from my (Belgian) bank today with regard to new rates for international bank transfers. These rates are applicable as from 1 July 2003. 'I'll try and translate them below:

1)'EU-transfers' allow you to transfer euros (up to 12,500 euro) within the EU at domestic rates. These amount to 0 euro for an electronic transfer and 0.25 euro for a 'paper' transfer (VAT included). These rates are applicable if you use:
a) the correct IBAN of the beneficiary
b) the correct BIC of the beneficiary's banker.
2) If these conditions are not fulfilled, payment will be executed via a 'EU-plus transfer' (no further explanation provided).
3) Transfers outside of the EU or transfers in other currencies are considered as 'foreign transfers' (i.e. other rules apply).

This was, of course, written from a Belgian perspective but I'm sure the procedure is similar for other EU-countries.
Hope this helps a bit.
Inge Geleyn


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Ralf Lemster  Identity Verified
Germany
Local time: 00:36
English to German
+ ...
Check who deducted the fees Aug 21, 2003

Hi Daniel,
Unless this is obvious from the account statement, ask your bank to check exactly who deducted the 15 euros.

There's always the chance, of course, that your customer did not properly use IBAN & BIC - if possible, ask them for a copy of their payment instruction.

HTH, Ralf


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Daniel Meier  Identity Verified
Local time: 00:36
English to German
+ ...
TOPIC STARTER
Thanks to you all. Aug 24, 2003

That´s what I have assumed: either the bank did not apply the rules correctly, or my client did not use IBAN and BIC properly.
Since my client is not very communicative about this and my online account statement does not say anything about IBAN and BIC and who deducted fees, I have to wait for my account statement on paper.


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Williamson  Identity Verified
United Kingdom
Local time: 23:36
Flemish to English
+ ...
First of May 2004 Aug 25, 2003

The Czech Republic will be a E.U.-Member on the first of May 2004. Wasn't it a transfer of funds to outside the E.U. and don't banks withold a certain sum in the latter case.

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Ralf Lemster  Identity Verified
Germany
Local time: 00:36
English to German
+ ...
Don't think so Aug 25, 2003

Wasn't it a transfer of funds to outside the E.U. and don't banks withold a certain sum in the latter case.

They would in the case of a transfer to a bank based in the Czech Republic - but Daniel specifically referred to his German account, in which case the EU regulations should apply.

Cheers, Ralf


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katieker
United Kingdom
Local time: 23:36
Member (2004)
German to English
+ ...
Same question but into UK account? Aug 26, 2003

Should this 15 Euro also apply when a Belgian agency pays into a UK account? I noticed the deduction each time but assumed it was unavoidable. I supplied my IBAN and BIC codes as requested.

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DGK T-I  Identity Verified
United Kingdom
Local time: 23:36
Member (2003)
Georgian to English
+ ...
Not (from sender's bank) if the transfer Be>UK is in Euros using BIC & IBAN Aug 29, 2003

katiebeb wrote:

Should this 15 Euro also apply when a Belgian agency pays into a UK account? I noticed the deduction each time but assumed it was unavoidable. I supplied my IBAN and BIC codes as requested.


If you are asking them to send you Sterling, maybe. Charges from their bank for sending Euros (if sender & receiver are within the EU) should be a fraction of this or free, whoever is supposed to be paying them - if IBAN & BIC were used correctly.
Check with your bank to see who made the charge - your bank or the sending bank.
Your bank (possibly international section) will advise you about their charges for receiving transfers/cheques in Euros & other non-sterling currencies.
Giuli

In general it's also important to clarify (before the job) whether sender or receiver are responsible for charges, or if responsibility is split then in what way.

[Edited at 2003-09-02 06:38]


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