| Re: transfering to UK account from Germany [message #382738] |
Di, 18 April 2006 18:33 |
|
"KM" <k.c.f.maguire [at] gmail.com> wrote in message
news:1145369364.603582.108400 [at] z34g2000cwc.googlegroups.com...
Hi
I am slightly confused about the position wrt. charges for
international bank transfers.
I have current accounts in both Germany (Kreissparkasse München
Starnberg) and the UK (RBS). I routinely wish to transfer from the
German account to the UK account. Over the past few years I've been
charged many different fees. However using the standard
EU-Überweisung form it now seems to have settled onto a flat 7 UKP
charge, levied by RBS after the Euro->UKP conversion. The German bank
says the transaction should be totally free, and they impose no fees at
all.
RBS tells me this is an "administrative" charge for receiving the
transfer, it is not any sort of currency conversion charge. In their
defense RBS say that non-UK (they pointed the finger specifically at
Spanish) banks also levy similar or significantly greater charges for
receiving funds from non-local banks.
However, my understanding is that a EU directive mandates that
international transfers should be charged at the same rate within the
EEA as those purely within national borders? Within Germany bank
transfers (Überweisung) are conmpletely free.
Have I misunderstood that directive? Does the UK have some kind of
exemption? Or does it only apply to some of the charges - for example
just the sending bank, the recipient bank can charge what they like?
Confused!?
KM
Yes because we have not signed up for the Euro as our currency.
|
|
|
