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Wire bank transfer fees from the UK to Panama
Thread poster: María Teresa Taylor Oliver

María Teresa Taylor Oliver  Identity Verified
Local time: 07:21
English to Spanish
+ ...
Sep 21, 2005

Hello, dear ProZers.

I have a question specifically for British colleagues:

I need to know the rates for international bank wire transfers from the UK.

My problem is that, here in Panama, the only way I can receive money is either through a check or through a wire transfer. (I know, we're supposed to be an international banking center and we're waaay behind. No PayPal, no Moneybookers, no other form of e-money).

I did a job for a UK agency some months ago, and they sent me a check, but in British pounds, not dollars. So my bank charged me a fee for sending back the check and cashing it (I'm not exactly sure of the procedure), plus I had to wait more than a month for the funds to be available.

Now I'm thinking that maybe it's better to receive payment through a bank wire transfer instead of a check, but I have no idea if this would be more expensive, as opposed to being faster, of course.

I already asked my bank about their fee for receiving money and depositing it in my account. It's a fair amount. But I need to know how much will the UK bank(s) will charge the agency, which, in turn, will charge me (charge to recipient, I think it's called?).

Are wire bank transfer fees in the UK standard? Do they vary much?

Thanks a lot!

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Jesús Marín Mateos  Identity Verified
Local time: 13:21
English to Spanish
+ ...
Within the European Union... Sep 21, 2005

My bank charges me £20 everytime I transfer money to Spain and other European countries, I haven't got a clue about Panama but I guess much more than that.
Kind regards,

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Wire bank transfer fees from the UK to Panama

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