fluctuating exchange rates

[alexia s.]

Our guests SWIFT into our French account. The really nice ones instruct their bank to make the payment net of all charges; most let us pay our bank's charges (which I do); one or two each year instruct their bank to make us pay all charges (which I don't).

[vrooje]

Why can't European guests pay using euros-to go into your French a/c ?

Sorry, I probably wasn't being clear -- we can receive payments from anyone and deposit them into our French or US accounts. But if we want to add money to our PayPal account by transferring money out of our bank accounts, that's not possible. PayPal doesn't allow it, don't know why!

We've just gotten the hang of SWIFT transfers and have done it a couple of times -- I think we will give that option more frequently from now on, as we do have an account intended only for that purpose.

Do you send bank details over e-mail? That's usually a horrible idea, though if there's nothing to steal it might not be so bad. The times I've done it, I sent a jpeg image of an RIB which has all the details on it. Just slightly better than sending the numbers as text.

[alexia s.]

Yes, I send bank details over e-mail. I never, of course, e-mail the secret code which is necessary to access the account. Is this still dangerous? (if so, why?)

[vrooje]

I just keep thinking of one of our other forum members (I can't remember who, though... sorry!) who is in court with her bank, I believe Credit Agricole, because someone faxed over her bank details and asked for a transfer or a withdrawl or something, and the bank happily drained her account without verifying the fax with her.

I hope I have this right... I wish I could remember who it was!

[alexia s.]

Yes, you're right about avoiding problems, Brooke - it's a lot easier than solving them. I don't think my bank would do this - but anything is possible.

[paolo]

I just keep thinking of one of our other forum members (I can't remember who, though... sorry!) who is in court with her bank, I believe Credit Agricole, because someone faxed over her bank details and asked for a transfer or a withdrawl or something, and the bank happily drained her account without verifying the fax with her.

That was fraise. Here is the thread:
viewtopic.php?t=718

In it, mascamps says the way to avoid anyone making withdrawals from your account is to use a savings account for incoming payments. This is what I do now, and transfer the payments into another account when they arrive.

I always email out my account details, and I am hoping that mascamps is right! There is nothing that cannot be found on a cheque, and a cheque of mine would also have my signature on it.

[Alan Knighting]

Paolo,

I've always thought it a bit bizzare that French cheques even show the address of the account holder.

I think this open approach to information has it's roots in French law. In France it is a criminal offence to issue a "rubber" cheque and, thus, cheques are readily accepted as a safe means of payment.

In fact, the French law goes further than that. An offender can also be excluded from the banking system altogether - no bank account, no cheque book, no credit or charge card. That would bring tears to the eyes of the cowboys, wouldn't it?

On the other hand, it tends to make those resident in France less wary and doesn't affect the non-resident scammers.

Alan

[John Borg]

With regards to sending "account details" by email, there is one important thing one should do.
Firstly, there is no danger (yet anyway!) of sending the Iban number to a potential client/guest.
I always use an account specifically opened for this purpose only. When funds are recieved, I simply transfer these funds to another account and leave the account with only a small amount of money.
I have found this to be the best mode of payment transfer and risk free. I have been told by my bankers that is is impossible to request funds from an account (not your own) by simply giving the Iban number and other account details.
I hope it stays that way.

[alexia s.]

"I have been told by my bankers that is is impossible to request funds from an account (not your own) by simply giving the Iban number and other account details. "
This has to be right. It would be grossly negligent of a bank to permit the withdrawal of funds without proper control of the instructions to withdraw.

[A-two]

[.....]it will be a miracle if she can work out how to go ahead this side of Christmas!

Well, I'm quite surprised to have received the greenlight on this one without further questions! It seems that passing the currency fluctuations and bank fees on hasn't impacted their decision negatively after all. Apparently, there's a cheque on the way in GBP, although she hasn't said how much this is for, so it will be interesting to see which option she's chosen, and specifically whether it's the only one offered with a guaranteed rate of exchange, which is to pay 100% now.

Onward and upward!

[Fraise]

I just keep thinking of one of our other forum members (I can't remember who, though... sorry!) who is in court with her bank, I believe Credit Agricole, because someone faxed over her bank details and asked for a transfer or a withdrawl or something, and the bank happily drained her account without verifying the fax with her.

I hope I have this right... I wish I could remember who it was!

Yes,it's me.This was last December.The case hasn't come to court yet but there's been one pre-court hearing.The bank are digging their heels in even more firmly! They say because we had numerous transactions prior to this (paying money IN) that it was par for the course that we'd want to use it!!The fact that WE didn't ask for it to be faxed to Majorca (where??? Our place is in France!!) doesn't seem too high on their list of priorities.It would be funny if it wasn't soooo typically French

[alexia s.]

I agree, Fraise: it's not at all funny. Are you using an avocat? Good luck.

[Fraise]

Thanks alexia,yes we are.It could take years apparently but the thing is that now we have experienced this I would hate anyone else to have to go through it! Not being able to pay the workmen wasn't funny either! We had a very patient plumber and a not so patient builder and the thought that they may think you're trying to get out of paying was awful!! Or the thought that the whole thing was snowballing and causing hardship to others as well ( the builders we couldn't pay straight away!!).I don't even think the word "incompetent"sums the bank's procedures up,it's a sort of arrogance that goes with it!! I do use the word "procedures" with a pinch of salt too

[alexia s.]

Fraise,
If you can get to the court hearing, do. This isn't normal in France, where pleadings are written (it's perfectly accepted, though), but an honest and aggrieved plaintiff, with tales of woe concerning 3rd parties (plumber etc) could find her presence turns out to be quite efective.

[Fraise]

Thankyou for that,yes,I did wonder about going but was told all the evidence is written down.One of the ironies is that we are being helped considerably with this by an ex-CA bank manager who can't believe the lack of care that was taken- it's a funny old world