I've bought twice from Germany by IBAN transfer. My bank in Australia
makes a minimal charge (it's a credit union and they are kind) but
others will charge around $20. Both times my institution warned me
that there may be fees deducted and the amount arriving could be
reduced and that the deduction was "unpredictable" in amount. In one
case the seller demanded an extra amount to cover it, about $20 as I
remember. In the more recent, the seller made no mention. In both
cases, the procedure took around a week!
Andrew Fildes
afildes@xxxxxxxxxxxxx
On 25/08/2007, at 3:16 PM, jem@xxxxxxxxxx wrote:
> If I may put in my 2 cents: the sender's bank is not legally
> obliged to
> make it free of charge. Some banks charge a fee, some don't, but in no
> case should the bank charge more than for a domestic transfer. What
> you
> do need to make it a low-cost, automated IBAN transfer is:
>
> - the currency must be Euros or Swedish Kroner (no UKP as yet, I'm
> afraid);
> - the sum involved is no higher than 50,000 Euros (that would be a lot
> of money to spend in one go on Oly gear, at the hobbyist level!);
> - the destination country belongs to the EU + Norway, Iceland &
> Liechtenstein;
> - the BIC (bank ID) & IBAN (account ID) codes are provided by the
> sender;
> - he/she requests that bank charges are on a SHARE basis.
>
> The last point is subtle, but makes a big difference in cost to the
> sender, regardless of the recipient's bank actual charges. These, BTW,
> should be no higher than for an incoming domestic payment if,
> again, all
> of the above conditions are met.
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