Bank charges in the UK for euro transfers
Thread poster: Marijke Singer

Marijke Singer  Identity Verified
United Kingdom
Local time: 18:48
Dutch to English
+ ...
Sep 17, 2007

Recently I was faced with bank charges for my euro transfers to the UK because of a change of policy and decided to change banks.

I am very happy to report that the HSBC do not charge a penny. They make their money from offering a slighly lower exchange rate (between 2 and 3% lower than what MasterCard offers). I know this is an issue for many of us and some might find this information interesting.


 

OlafK
United Kingdom
Local time: 18:48
English to German
+ ...
And that is all right then? Sep 18, 2007

I'm with HSBC and a while ago I transferred a substantial sum from my German account into my account with them. HSBC didn't charge anything at all. Wow! But then I looked at the exchange rate. I had lost about GBP 70 on that transaction due to their unfavourable exchange rate. Before that they used to charge GBP 20 if I remember correctly but I'm not sure the exchange rate was any better back than.

 

Marijke Singer  Identity Verified
United Kingdom
Local time: 18:48
Dutch to English
+ ...
TOPIC STARTER
Banks are businesses too Sep 18, 2007

Olaf Knechten wrote:

I'm with HSBC and a while ago I transferred a substantial sum from my German account into my account with them. HSBC didn't charge anything at all. Wow! But then I looked at the exchange rate. I had lost about GBP 70 on that transaction due to their unfavourable exchange rate. Before that they used to charge GBP 20 if I remember correctly but I'm not sure the exchange rate was any better back than.


Although I would like them not to charge at all, I'd rather just pay once and not twice, that is, because of the exchange rate and fees. Banks are businesses too and they need to make their money in some way. They are providing a service.


 


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Bank charges in the UK for euro transfers

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