Had an 18 Euro charge on my account today - asked the Bank and its because of Brexit. All transfers from UK to France are now subject to a flat rate of 18 Euros no matter how much the transfer. Need to find a different way to do this.
Transferwise? Sorry, now just Wise
Have watch our account for this, not seen it so far CA from Wise.
Nothing from Revolut to CA
Used to use Wise but had problems with my Bank transferring it had to keep phoning etc so gave up. Might try Revolut.
This is what was on my Bank statement “prelevement comm de repatriement”
Are we comparing like with like here? Presumably with Wise and Revolut you have already transferred to the Euro-denominated part of your account - which I believe is effectively in the Euro area - so the subsequent transfer to CA is a bit different from direct transfer from a UK bank.
I do know that Credit Agricole cash machines now add a 5 Euro extra cost to any withdrawal using a UK card now.
Which given the fractions of fractions of cents such a withdrawal will be costing them, is an out and out ripoff.
No. Revolut and Wise use LT and BE IBANs and although I can’t say for certain in this case obviously a lot of the issues that are cropping up are because U.K. accounts with an IBAN are generally GB, and whether or not the banks are part of SEPA or whatever it’s this GB IBAN that is being considered an international one causing the issues.
Sorry just did it from my UK bank to French bank and just realised that its the bank that is charging for receiving it not the actual transfer company. So maybe won`t make any difference who does the transfer.
What currency did you transfer in?
We have just done two euro transfers into CA via Wise and no charge
They have to maintain the holes in the walls. It always used to be like that years ago if you didn’t go to your own bank. And easy for banks to remove their holes in their walls if all their customers can go elsewhere.
Straight from Halifax to CA pounds to euros
It’s not just GB cards, I went to take out Euros from my Wise account the other night and they wanted the €5 from me to take out money.
You need to transfer in euros now.
Thats correct Geof, I send GBP from santander uk to revolut then exchange GBP to my euro account at revolut , then its a Euro to Euro transction to CA
Interesting Jane. I take your point about the costs of running cash machines.
Just hard for me to see, why the cost for withdrawal from a CA machine is zero with my CA card which must be the majority of their withdrawals. And yet 5 Euros to withdraw the same Euros with a UK card. And no, there’s not much extra work behind that. Not at any level.
And I will take a bet that Lithuanians, say, whose currency would take more work behind to support, are not getting charged 5 Euros. Nor, customers of other French banks.
This charge is disproportionate to costs and also in relation to charges made to others.
Used Wise for quite some time, and seems pretty slick actually
I don’t know how things work in France but in the U.K. the more cash machines you have the better off you are generally. Banks pay a fee to the ATM owner every time a customer withdraws cash, which is the reason fintechs and EMIs are more likely to charge a fee to withdraw cash, the likes of Monzo, Starling, Revolut etc obviously don’t have ATM networks so the direction of fees is all from them to other banks compared to say Barclays who will pay NatWest every time a Barclays customer uses a NatWest machine, but will receive a fee from NatWest every time a NatWest customer uses a Barclays machine. As long as there’s reasonable foot traffic ATMs will pay for themselves, so anything in a bank should, it’s just ones in low traffic area ones that won’t.
Even slicker these days, within a few hours the monies in the french account
Within 6 seconds more like. My money is in my CA a/c before it’s left my HSBC a/c in the UK. Work that one out.
Didn’t want to brag