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Payments within the EU
Thread poster: Mary Worby

Mary Worby  Identity Verified
United Kingdom
Local time: 05:08
Member
German to English
+ ...
Oct 9, 2003

Although I've been working as a freelance translator for some time now, I have only ever worked for agencies in the UK and Germany, and have bank accounts in both these countries.

However, over the years, I have, on many occasions, been approached by other companies within the EU. My primary reservation about working with these agencies has been twofold. On the one hand, there is the language barrier. Although the English skills of many of the people working at these agencies puts our insular efforts to shame, I am still nervous about picking up the phone and calling an agency when I will not understand the language spoken at the other end.

Secondly, and perhaps more importantly, I am concerned about payment. How would a company in, say, Holland, pay me as a UK resident? Do the new regulations on bank transfers (IBAN numbers, etc.) mean that a transfer to my German bank account from Holland, Spain or anywhere else in the EU would cost me no more than a direct transfer from Germany? Or is is still more complex than that?

Regards

Mary


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Ralf Lemster  Identity Verified
Germany
Local time: 06:08
English to German
+ ...
Same treatment - in principle Oct 9, 2003

Hi Mary,
First of all, there have been quite a few threads about cross-border payment issues already. Most of them were in the Business Issues forum, however.

Secondly, and perhaps more importantly, I am concerned about payment. How would a company in, say, Holland, pay me as a UK resident? Do the new regulations on bank transfers (IBAN numbers, etc.) mean that a transfer to my German bank account from Holland, Spain or anywhere else in the EU would cost me no more than a direct transfer from Germany?


That's what the directive says, and what most banks have implemented in time. Some banks still have problems - for example, one of the German banks I use got lost with a euro transfer to a euro account in the UK (note that the rules do not apply to sterling accounts!).

It's therefore safe to double-check with your bank in Germany beforehand, and to try it out.

Best regards, Ralf


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DGK T-I  Identity Verified
United Kingdom
Local time: 05:08
Member (2003)
Georgian to English
+ ...
I've found no difficulties receiving Euro in a UK Sterling account Oct 9, 2003

I presume(!) the regulations mean that the sending bank must charge the same sending charges (sent with IBAN & Swift/BIC) for sending Euro to a UK account of any sort, that they would for sending Euro within their country - and that it is the UK bank's charges for receiving/converting to Sterling which would be different / not subject to the regulation. Depending on the amount, bank, etc, these receiving charges can be a bargain, or significant.
If the fees are justified by the amount of business, UK banks offer Euro accounts.
Of course, I don't have the advantage of a Euro account in Germany (alas).
Best wishes
Giuli


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Ralf Lemster  Identity Verified
Germany
Local time: 06:08
English to German
+ ...
Exactly Oct 9, 2003

Hi Giuli,
I presume(!) the regulations mean that the sending bank must charge the same sending charges (sent with IBAN & Swift/BIC) for sending Euro to a UK account of any sort, that they would for sending Euro within their country - and that it is the UK bank's charges for receiving/converting to Sterling which would be different / not subject to the regulation.


Spot on.

Best regards, Ralf


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