International Bank Transfer via Lloyds or Paypal?

.Lethal · 8 Jul 2008 at 12:12

Hi all, this may not be the best to ask this sort of thing but I am quite sure there is someone who who can offer some tips/advice.

I have a LloydsTSB bank account and a Canadian Bank account with a bank Called Royal Bank of Canada. I have credit cards with each bank.

Basically I want to pay the Canadian credit card off with my Lloyds current account funds. Approx 2.5k GBP I need to send to my Credit card (or account) in Canada.

Normally I use paypal to send a payment each month to cover the bills but now I am able to pay the whole thing off and I am looking for advice on how todo this. Does anyone know if I would be better off sending the whole thing via paypals method or would it be cheaper to go through my bank.

I know I should just go and ask my bank about there fees process and so on, I plan to do that. My reason for posting is for some tips/advice before I do this as I'm sure someone must have done this before.

Thanks

wonder_lander · 8 Jul 2008 at 12:18

I transfered 500 ukp to my sister in the US yesterday and lloyds charged me £20

How does that compare to your paypal fees?

.Lethal · 8 Jul 2008 at 12:20

If it is a flat fee with Lloyds then the bank is the best option. I believe Paypal charge a small percentage. 2% or so I think

Majago · 8 Jul 2008 at 12:41

Looks like it's a flat £20 fee with Lloyds for international transfers up to £5k.

Can't get the link to work but it's on their website.

bluesouljah · 8 Jul 2008 at 13:30

I've just transferred 1,200 AUD from the UK to an Australian Bank account with no charge. Try using HIFX.co.uk

Siliconslave · 8 Jul 2008 at 13:37

theres a way you can use something called masspay to send money via PayPal... 2% capped at 60p... but i think you need a premier/business account

.Lethal · 8 Jul 2008 at 14:04

Siliconslave said:
theres a way you can use something called masspay to send money via PayPal... 2% capped at 60p... but i think you need a premier/business account

Both my paypal accounts are premier/business but each month I send money I am charged a few pound each time. I will look into that a bit more when I get home.

bluesouljah said:
I've just transferred 1,200 AUD from the UK to an Australian Bank account with no charge. Try using HIFX.co.uk

I will check this out too, thanks

[DOD]Asprilla · 8 Jul 2008 at 14:10

Transfer it with Lloyds as they have the added option of transfering it in the wrong currency and then trying to reclaim the excess from you when they can't get it back from the recipient.

Bargin.

Siliconslave · 8 Jul 2008 at 14:25

https://www.paypal.com/cgi-bin/webscr?cmd=_batch-payment-overview-outside you basically need to create a csv file with the right format and upload it through you account... been a while since i set one up but the instructions are there