Payment cost for receiving an international wire transfer from the USA to UK

[swiftkidd]

Hi,

 

I live in the UK and I'm due to receive an international wire transfer for the total amount of $223.00 which includes $25.00 to cover the cost of the wire transfer.. Is $25.00 enough ? The cost I'm owed is £125.00 and how do I pay the cost. Is it taken out automatically or do I have to intervene before the payment is complete

 

I believe the payment will be sent tomorrow from Orange County, California from a multi billion dollar company into my Barclays account thanks

[dx100uk]

what the hell is this about?

sounds like a spoof thing to me

dx

[swiftkidd]

It's not a spoof, Which is why I said it's coming from a multi billion dollar company lmao just encase anyone thought wire transfer eh it must be a [problem] etc. No this payment is coming from a well known corporation in way of a refund I'm just curious as I've never received an international payment before if $25 is able to cover the cost.. Roughly ?

[dx100uk]

tell us the story.......

 

anyone anywhere in the world can transfer direct to YOUR bank account using BACs or internet transfer

wthout ANY fee

 

something smells

 

dx

[swiftkidd]

Well long story short,

 

Product failed under warranty

which resulted in being escalated to the head office in America.

 

Who finally after months worth of emails are now willing to refund the money.

 

I don't want name drop company just in case it get's caught up in web clipping and/or web cache or possibly seen by company's employees.

 

The moneys not been sent yet

 

I just need to know the cost

 

as they've requested my bank details

 

so I went onto Barclays and looked up what they needed to complete the transaction

and also reminded them it would cost

cause that's what it says on Barclays page

but it doesn't state what fee percentage or how much so the response I received was an additional $25 to cover any service charges.

 

So I'm assuming that's enough for admin fee plus currency conversion ?

[dx100uk]

all you need to do is give them:

 

your sort code

your account number

the Account name [person who holds the account -the details on a debit card or statement]

 

there is NO NEED for ANY charge at all

 

just tell them to use BACS [internet banking transfer from THEIR banking site]

 

dx

[swiftkidd]

I've already provided them with that info.

I gave sort code, account number, name/address,

my banks local branch address IBAN and SWIFTBIC.

 

They've stated a wire transfer will be sent to your account tomorrow.

Don't ask why it's coming from America as they've service centers with refund departments all over the world but hey I guess that's how it works..

 

All I'm concerned about is if it's enough to cover the fee and will it require me to authorize that fee

 

Btw they've provided an additional $25 out of their money to cover the fee

so really the cost is not an issue

 

I just don't want any disappointment that the money is tied up cause the fee wasn't paid or something.

. I do online banking so I guess it's easy to keep tabs on my account

[dx100uk]

dunno then

 

p'haps an niternet search engine might help//////////////>.........

[marmaris30]

International transfers are not free - there are always fees, exchange rate spreads or commissions payable but the question is who pays.

 

To make international wire transfers, you need the receiver's name, the amount, SWIFT BIC and IBAN that you've supplied (plus SWIFT intermediary code for some banks, e.g. Nationwide). So no problem there. The sender can choose 'BENeficiary', 'SHAred' or 'OURs' for fees, i.e. no, some or all fee due. The norm is shared, so if your bank charges a receiving fee, it will be deducted.

 

Nationwide and a couple of others charge no receiving fee at all. Most others charge £15 or so (but they should be able to tell you - it's a simple answer to a simple question). Therefore I reckon the $25 will be about right, and if anything you might be slightly up. The money will appear in your account automatically and any fee charged will simply be taken off.

[swiftkidd]

International transfers are not free - there are always fees, exchange rate spreads or commissions payable but the question is who pays.

 

To make international wire transfers, you need the receiver's name, the amount, SWIFT BIC and IBAN that you've supplied (plus SWIFT intermediary code for some banks, e.g. Nationwide). So no problem there. The sender can choose 'BENeficiary', 'SHAred' or 'OURs' for fees, i.e. no, some or all fee due. The norm is shared, so if your bank charges a receiving fee, it will be deducted.

 

Nationwide and a couple of others charge no receiving fee at all. Most others charge £15 or so (but they should be able to tell you - it's a simple answer to a simple question). Therefore I reckon the $25 will be about right, and if anything you might be slightly up. The money will appear in your account automatically and any fee charged will simply be taken off.

 

Hey thank you, I appreciate your informative yet simple answer I just needed a little reassurance peace of mind that the money will arrive smoothly

 

dunno then

 

p'haps an niternet search engine might help//////////////>.........

 

Yeah your right, In that case maybe we should shut the CAG forum down as the search engine will provide us all with up to date information huh ?