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Transferring money to a foreign account - IBAN/BIC numbers??

7 replies

PiedWagtail · 11/01/2012 15:56

I need to transfer euros to a French bank account and the owner has given me his IBAN/BIC numbers - are these enough?? Don't I need his bank account details? And can my bank transfer the money in euros???? Help!

OP posts:
lostboysfallin · 11/01/2012 16:00

Do you have internet banking? What bank are you with?

CosmicMouse · 11/01/2012 16:07

IBAN = International bank account number. So that, along with the BIC (which I think identifies the bank) should be sufficient. You will need the account holders name too.

Not sure if you'll be able to do it online. You'll probably be able to do it on the phone if you use telephone banking. Or go into a branch.

Normally around a fiver for a bog standard euro payment I think.

PiedWagtail · 11/01/2012 17:40

Thanks! will try :) Am with Santander who are completely shite though so don't hold out much hope Hmm

OP posts:
Almanzo · 12/01/2012 09:09

I used to do this fairly regularly. The details you have are enough.
The first time I did it took a little longer as my bank (smile/co-op who are v v good btw) wanted details of what the transaction was for anti money laundering regs.
The money comes out in £ and turns into whatever country's currency in the recipient's account. Your debit will show the exchange rate used.
HTH

IShallWearMidnight · 12/01/2012 09:15

Santander charged me £30 or £35 to make a Euro payment last year (business account, don't know if it's the same with an ordinary account). Had to go into a branch and it took the best past of half an hour becasue they had to fill out endless forms.

PiedWagtail · 12/01/2012 20:48

Rang Santander and they told me another number to ring to make international payments - took 5 mins!!! yay for them (was v surprised as, as I said, they are a bit pants).

OP posts:
zest01 · 13/01/2012 20:35

You will be stung on the exch rate if you use your bank and would be better using a payment provider - there are lots around if you google

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