Help! High Transfer Charges on IBAN & SWIFT from US

[centime]

I am having very high transfer charges placed on guests transferring payments from the US into my euro account in Portugal. They have my IBAN and details of SWIFT. Works perfectly from the euro zone and even Australia. Even got a complement from the Australian teller who let the guest know how easy it was with the details that I sent. Total transfer fees on that one a mere 20 Australian dollars. How can I advise the guest to the best and cheapest method of transfer from the US? How are other people handling this in the euro zone or is it better just to sign up to take credit cards. Help please as I am having the guest paying $35 there end to make the transfer of less than 500 euros plus the banks seem to gobble up a further 40 odd euros into bank cyber coffers on the way to Europe. Urgent advice and solution needed.

[gh]

Hi Centime,

Have you heard of www.moneybookers.com

Never used them personaly, however, gleamed this from another site and seem to be cost effective. You need to register and money transfered in 3 to 4 days Only passing on info not recommending.......

Hope this is of use to you.

Regards

[Paul Carmel]

johnel,

Could you let me know where that thread is? I just looked at the site, sounds good! Has anyone else used it?

[paolo]

There was some discussion of moneybookers here:

viewtopic.php?t=839

[centime]

Paul: That's my question too - who uses it and how are they doing with the system? Just been plowing through the other thread, found it through your good old search button here on LMH. The US transfer charges are akin to theft, as I have just had an Australian guest do a SWIFT that cost her only 20 Aussie $ (15US) and me 0.75 €. In the US it was 35$ their end and another 40€ this end!

[paolo]

centime,

I offer Americans wire transfers, bank draft in euros, and PayPal. With those charges I would exclude wire transfers, or explain it is going to cost them a fortune.

[paolo]

Do I remember rightly that for moneybookers the sender has to sign up with them too? If so, that would put most people off.

[centime]

How much does the bank draft cost, how long does it take etc.

[gh]

johnel,Could you let me know where that thread is? I just looked at the site, sounds good! Has anyone else used it?

Certainly Paul, can you show us your photo please?

[Paul Carmel]

johnel,

"Certainly Paul, can you show us your photo please?"

I am sure I dont know what you mean! Anyway, Paolo does not think it's a good idea.

[gh]

http://www.totalfrance.com/france/forum ... neybookers

Not that I would hold you to ransom, all will be revealed, anticipation is everything. Better be worth the wait.


Regards
Helen

[paolo]

How much does the bank draft cost, how long does it take etc.

It's a cheque in the currency of your choice so it should cost you nothing and the sender pays something like $20-30, plus they get stitched up a little by the exchange rate their bank gives them, which presumably would be the tourist rate.

[Clive in Abruzzo]

For what it's worth I've had nothing but trouble with MoneyBookers. I now use PayPal who on average charge me 3.6% on credit card transactions. They also have the advantage of not requiring the client to sign-up to anything.

For transferring money from the UK to Italy I use World First who in my opinion are superb.

[debk]

Hi, Centime - Just writing to let you know I feel your pain. (Or I felt it.)

Those USA transfers can be very expensive and the banks here just keep upping the rates. Much depends on who the sending bank (in the US) uses to transfer their money into Portugal. For instance, if it happens to send transfers through a UK bank then sometimes the cost is less on both sides. Unfortunately, there's no easy way to find out before the money gets sent. The sending bank will probably have absolutely no idea and no easy way to find out, either.

Good luck! Beijinhos,
debk