Bank and credit card charges for inter-EU money transfers
Thread poster: Alison Schwitzgebel

Alison Schwitzgebel
France
Local time: 09:04
Member (2002)
German to English
+ ...
Sep 2, 2003

Just got this message from a friend of mine and thought it might be useful for you guys too. It specifically relates to events organized by our international running club network, but should also apply to translation payments.

"Since the 1st of July, a new EU-wide bank regulation has come into
effect. All transfers that supply a correct IBAN and BIC for the
destination account less than 12,500 Euros should be at the same price
as a domestic transfer.

The BIC is the Bank Identifier Code and the IBAN is the International
Bank Account Number. An account holder can request this information
from their bank at no charge. However, they should then inform people
making payments to them. Note that as an IBAN contains validation
information, there is little possiblity of a payment getting to the
wrong account. If you do not quote a correct IBAN/BIC combo, then
expect a service charge.

Note, this regulation is EU-wide, not just for the Euro-zone however
it only applies to payments made in Euros (strangely enough, also
Swedish Kronor). The countries mentioned include
ISO Codes: AT,BE,DE,DK,ES,FI,FR,GB,GF,GI,GP,GR,IE,IT,LU,MQ,NL,PT,RE,SE
(taken from table 4 in ECBS Standard TR201V2.2.25).

The regulation (in case you have to quote it) is 2560/2001 and it
came into effect on the 1st of July. This is an EU regulation not just
from the ECB. For some strange reason, many banks are trying to keep
this one quiet.

International
credit-card surcharges *should* also vanish within this area, but
remember that clearing credit cards is expensive and costs the
recipient up to 6% of the charge in processing fees.

When you see an away event organised in any of the above countries,
contact the organisers and get them to send you the IBAN and BIC of
their event account. Explain why and you are welcome to forward this
Email as an explanation. If you are organising an event, please make
sure that you advise people of the IBAN and BIC of the bank account
that you are using."

Best,

Alison


Direct link Reply with quote
 

Ralf Lemster  Identity Verified
Germany
Local time: 09:04
English to German
+ ...
Check various other threads Sep 2, 2003

Thanks, Alison - for more details regarding IBAN & BIC, check out the "Business Issues" forum as well as some earlier threads in this forum.

Best regards, 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 and credit card charges for inter-EU money transfers

Advanced search







SDL MultiTerm 2017
Guarantee a unified, consistent and high-quality translation with terminology software by the industry leaders.

SDL MultiTerm 2017 allows translators to create one central location to store and manage multilingual terminology, and with SDL MultiTerm Extract 2017 you can automatically create term lists from your existing documentation to save time.

More info »
WordFinder
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 ProZ.com
  • All of ProZ.com
  • Term search
  • Jobs