A friend in France taking bookings from the UK thinks that the bank charges for sending Euros from the UK may put people off.
From the UK it costs £10 to send the slowest bank transfer (from NatWest), and a whopping £18 to issue a euro cheque. £10 is OK but it does involve a trip to the bank and a wait in line for special assistance - not very convenient.
She doesn't want to get into the PayPal-type credit card options. Are there other options I am unaware of? What happens if you send a cheque in pounds to a French bank?!
Thanks for any pointers.
What's the best way to send/receive euros from the UK?
What's the best way to send/receive euros from the UK?
Paolo
Lay My Hat
Lay My Hat
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DivineMrsM
- Posts: 155
- Joined: Tue Dec 07, 2004 2:16 pm
- Location: The Dordogne and London
I know you weren't convinced last time I mentioned it, but www.auctionpix.co.uk are worth a look.
http://www.auctionpix.co.uk/auctionchex.html
http://www.auctionpix.co.uk/auctionchex.html
Lynne
for Metropolitan Retreat in London https://www.airbnb.co.uk/rooms/6712284
and
Le Cheval Blanc in France https://www.airbnb.co.uk/rooms/6714302
for Metropolitan Retreat in London https://www.airbnb.co.uk/rooms/6712284
and
Le Cheval Blanc in France https://www.airbnb.co.uk/rooms/6714302
Hello DivineMrsM,
I thought auctionpix was for taking foreign currency payments in the UK? I'm interested in sending euros from UK to France (or other). It would have to be more 'mainstream' than auctionpix, as it's hard enough convincing people to use PayPal, never mind something that sounds like, well, auction pics.
I thought auctionpix was for taking foreign currency payments in the UK? I'm interested in sending euros from UK to France (or other). It would have to be more 'mainstream' than auctionpix, as it's hard enough convincing people to use PayPal, never mind something that sounds like, well, auction pics.
Paolo
Lay My Hat
Lay My Hat
Paolo,
Nearly all of our clients are British, and we charge in Euros and do fine. However, nearly all of our clients use PayPal. I believe my Mom has written a check to herself before and deposited it into her French account from her US account, and it worked out fine (after a long wait). But that's a rarity; she usually uses wire transfers for that -- and only in large amounts, as they cost US$40 and as far as I know there's no slower, cheaper wire option.
When we put the offer in on the house in France, we used a US check for the good-faith deposit, and that was fine -- so there must be a way to cash foreign checks somewhere even if it isn't at a particular bank.
Why does it cost so much to issue a check in Euros? That's sort of shocking to me. I'd expect that from the "we're the only country in the world" American banks, but not from banks in the UK.
Nearly all of our clients are British, and we charge in Euros and do fine. However, nearly all of our clients use PayPal. I believe my Mom has written a check to herself before and deposited it into her French account from her US account, and it worked out fine (after a long wait). But that's a rarity; she usually uses wire transfers for that -- and only in large amounts, as they cost US$40 and as far as I know there's no slower, cheaper wire option.
When we put the offer in on the house in France, we used a US check for the good-faith deposit, and that was fine -- so there must be a way to cash foreign checks somewhere even if it isn't at a particular bank.
Why does it cost so much to issue a check in Euros? That's sort of shocking to me. I'd expect that from the "we're the only country in the world" American banks, but not from banks in the UK.
Brooke
because we live here in Euros zone we have to ask for Euros...some banks charge a lot more than £18 for a TT! Then we can be charged as well on top...and if we have a Euros cheque from another Euro country we are charged for that!
Another solution which h-r.com came up with...if you go to a Bureau Exchange it is the cheapest way of changing money...for deposits this is great - REGISTERED post...it is insured for upto £500 ...But whatever you do make sure it is registered - some one sent me cash that went missing - she sent it swift air - this service is not insured.
I honestly think that banks are the biggest robbers going now - it is outrageous what they charge!
If folk really object to sending Euros by TT because of charges, then they can alway raise a bankers draft or pay cash. I actually get very little resistance - as after all would you try to pay for anything in e.g. The States in Sterling?
Another solution which h-r.com came up with...if you go to a Bureau Exchange it is the cheapest way of changing money...for deposits this is great - REGISTERED post...it is insured for upto £500 ...But whatever you do make sure it is registered - some one sent me cash that went missing - she sent it swift air - this service is not insured.
I honestly think that banks are the biggest robbers going now - it is outrageous what they charge!
If folk really object to sending Euros by TT because of charges, then they can alway raise a bankers draft or pay cash. I actually get very little resistance - as after all would you try to pay for anything in e.g. The States in Sterling?
Hi - not sure if Halifax operate in France but we set up a UK and Spanish Halifax account and it doesn't cost us anything to transfer our money inbetween the two accounts. Having said that our UK account is a sterling account so we convert to Euros at the same time. However I don't see why you can't have a UK Euro account with Halifax. Worth a call anyway!
Amanda
Amanda
We take our payments in either Euros or Pounds.
The Euro payments we take are either by credit card (we have a machine) or direct transfer with the renters paying the costs.
Usually for UK clients not paying by credit card we take a UK cheque or direct transfer to a UK bank account. We then transfer the money over in one lump every few months. The charges are much less this way than for transfering every time you get a deposit. The UK banking is free.
We would not accept a cheque drawn on a UK bank in Euros as it would cost us too much in the French banks. We also would not take a cheque form another European country for the same reason so it's got nothing to do with the UK being in the Euro zone or not.
I thought for registered post the insurance did not count for cash, but I may be wrong.
Ju
The Euro payments we take are either by credit card (we have a machine) or direct transfer with the renters paying the costs.
Usually for UK clients not paying by credit card we take a UK cheque or direct transfer to a UK bank account. We then transfer the money over in one lump every few months. The charges are much less this way than for transfering every time you get a deposit. The UK banking is free.
We would not accept a cheque drawn on a UK bank in Euros as it would cost us too much in the French banks. We also would not take a cheque form another European country for the same reason so it's got nothing to do with the UK being in the Euro zone or not.
I thought for registered post the insurance did not count for cash, but I may be wrong.
Ju
Re: What's the best way to send/receive euros from the UK?
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From the UK it costs £10 to send the slowest bank transfer (from NatWest), and a whopping £18 to issue a euro cheque. £10 is OK but it does involve a trip to the bank and a wait in line for special assistance - not very convenient.
hi- we use Nat West and for the slowest bank transfer it costs us £18!!!!!Charges on top of that when the money hits the French bank!!
What happens if you send a cheque in pounds to a French bank?
Hi- I tried this ONCE cos it was recommended by someone!!!! The cheque took weeks to be credited to my account- 5 or 6- I couldn't believe it and when I queried it was told this was normal for this type of transaction!!
Going off at a slight tangent- we had 13000€ fraudulently taken from our French account ( someone sent a fax asking for the money to be transferred to Spain!Not us!- The bank did not do a ring back to check) over 2 months ago and we are still battling with the bank to get it back!!! Grrr, very different security in our French bank- beware!!!
From the UK it costs £10 to send the slowest bank transfer (from NatWest), and a whopping £18 to issue a euro cheque. £10 is OK but it does involve a trip to the bank and a wait in line for special assistance - not very convenient.
hi- we use Nat West and for the slowest bank transfer it costs us £18!!!!!Charges on top of that when the money hits the French bank!!
What happens if you send a cheque in pounds to a French bank?
Hi- I tried this ONCE cos it was recommended by someone!!!! The cheque took weeks to be credited to my account- 5 or 6- I couldn't believe it and when I queried it was told this was normal for this type of transaction!!
Going off at a slight tangent- we had 13000€ fraudulently taken from our French account ( someone sent a fax asking for the money to be transferred to Spain!Not us!- The bank did not do a ring back to check) over 2 months ago and we are still battling with the bank to get it back!!! Grrr, very different security in our French bank- beware!!!
I think I have already said this on another thread a while back, but here's my dime's worth.
I have stuck to the "swift transfer" method - safe, fast and reliable. As for the costs, these vary from country to country with the UK being notoriously expensive!
I always state that I want the money transfered net of any bank charges from the clients side. I am usually charged a nominal fee from my end, usually around €5 out of each €200 or so.
As for disclosing bank account numbers, I just simply use an account which I leave for this purpose only and clear the account everytime a deposit/payment is recieved. I doubt that someone can swindle me out of money which is not there.
I have found this method the most efficient. It also acts as a filter to deter potential swindlers/fraudists from trying anything on the sly.
I have stuck to the "swift transfer" method - safe, fast and reliable. As for the costs, these vary from country to country with the UK being notoriously expensive!
I always state that I want the money transfered net of any bank charges from the clients side. I am usually charged a nominal fee from my end, usually around €5 out of each €200 or so.
As for disclosing bank account numbers, I just simply use an account which I leave for this purpose only and clear the account everytime a deposit/payment is recieved. I doubt that someone can swindle me out of money which is not there.
I have found this method the most efficient. It also acts as a filter to deter potential swindlers/fraudists from trying anything on the sly.
Malta – always in the sunshine!
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Hells Bells
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We have just changed from Credit Agricole to Groupama bank. Groupama charge nothing for taking a euro cheque from an EU country and €12 for a cheque in a foreign currency. They also are the only bank in France (so I believe) that have a real charge free double account system - i.e. money from a deposit account automatically transferring to a current account. We take payment in euros and GBP and are set up for Paypal this year but no-one has used it yet. I have aNationwide acoount still in the UK and when I get a UK cheque I pay it in there and withdraw the equivalent cash out here in euros( no charge for foreign withdrawals with Nationwide) and put that into La Poste, my gite account. A bit of an effort but fast and the cheapest way I've found.
You could also open a Citibank account in the Uk or France. In this account you can have both a sterling account and a Euro account and you can deposit checks in either currency for free into your account. When moving money between currencies you get to do it at money market rates without a fee. Its not bad.
The downside is that you need to keep at least 2000 pounds in the accounts in total active at all times or they charge you an account management fee of 20 pounds I think.
You can manage it on the internet. The really good part is you can have one debit card and switch which account the money comes from ie Euros in Europe or pound in UK meaning you dont have to wear the scandalous Visa exchange rates or charges for withdrawals overseas. You can also attach a US$ account and a number of other currencies such as Australian Dollar as well.
www.citibank.com/uk
The downside is that you need to keep at least 2000 pounds in the accounts in total active at all times or they charge you an account management fee of 20 pounds I think.
You can manage it on the internet. The really good part is you can have one debit card and switch which account the money comes from ie Euros in Europe or pound in UK meaning you dont have to wear the scandalous Visa exchange rates or charges for withdrawals overseas. You can also attach a US$ account and a number of other currencies such as Australian Dollar as well.
www.citibank.com/uk