international bank transfers

"andy" · 30 May 2007 at 18:41

hi there , hopefully someone will of done this before so can help me

someone is asking if i accept international bank transfers on ebay (theyre in europe and want to pay in euros,)

what the negatives of this for me ? will i have to pay any charges or anything ?

The_Judge · 30 May 2007 at 19:17

The vast majority of my income arrives via an international bank transfer, as im paid in dollars which is then changed into pounds. I pay a $5 charge for the privilege, which is nothing compared to the amount of money im transfering, there will be charges for you recieving the monies, which id pass onto the buyer.

"andy" · 30 May 2007 at 19:39

ah cheers

i did search before i posted and didn't have much luck , kept searching and found out that it will be a 2 pound charge ill have to pay

semi-pro waster · 30 May 2007 at 19:59

£2 seems remarkably cheap, make sure the buyer is aware they have to pay any fees at their end. Everytime I've done a normal IBAN transfer it has cost me at least £15 because of fees at both ends.

"andy" · 30 May 2007 at 20:05

not sure. on the lloyds site it just said for recieving an international bank transfer its 2 quid for under 100 and 7 quid for over

said thats only if they're not paying the fees .

:confused:

hmm might ring the bank tommoro and make sure

semi-pro waster · 30 May 2007 at 20:12

Sorry, just to clarify I am talking about paying into another account, not receiving the money and sending the money does cost about £15. I'm unsure of the fees for receiving because although I've sent money to myself before I didn't really pay attention to the fees since I had no way round them so it probably is just £2.

Alasdair · 30 May 2007 at 20:36

Try to get payment in sterling where possible. This will ensure that you get a fixed amount and are not exposed to any variance in exchange rates.
It may also be cheaper to receive GBP rather than EUR.

In all honesty though, for low value cross border payments you may actually be cheaper with Paypal.

EDIT: I forgot to mention that you can specify to pay the beneficiary bank charges when making a cross-border SWIFT payment. Just have the buyer do that and it'll be totally free for you, they'll pick up the charges you pay to receive the funds.

"andy" · 30 May 2007 at 20:42

hmm ive told them ill accept it , tbh a small charge wont bother me and thats only if they win the auction anyway ,plus its already gone much higher than what i expected it to go for and has a day left

oh and id love to of used paypal but im banned from it after going a bit crazy when some tool did a charge back on me , stole my item , and got the money back even when i clearly had proof of delivery.

few small claims court forms 6 months later and they(the scaming buyer) begged to repay me the money they claimed back :rolleyes: