Anyone have experience with bank wire ?

[Olly 0]

Hi guys,

 

 

I'm in the process of ordering a TC Sub but Thomas would like me to use bank wire to pay for the order. Anyone have experience with doing a bank wire with Lloyds TSB to the US ?

 

 

Thanks,

 

 

 

Olly

[replicastuff 0]

Yes, used lloyds tsb before for international wire, think they charge you £10 and may also charge the recipient, dont think there is an option for you to eat the charges and you dont know what they are at the other end.

Happened to me where the td got less so had to paypal the rest.

[richardm1142 0]

Did an HSBC to China transfer that cost me £40 on top of a deal for £150

 

Never again

[Olly 0]

Ok cheers guys !!! I'll see what i can do.

[Olly 0]

Any one else ?

[Olly 0]

anoyoune ?///??????

[Himont 0]

Yeah the fees both ends are fairly high

[Olly 0]

colll

 

ttttthnas

 

moreessss

[ShadyManc 0]

I've transferred money to a TD through Lloyds TSB in the UK, they charge you £10 in the UK, and what looks like $25 at the other end. I'm talking with the TD and my bank about this today and will post more info shortly.

 

Quick question. Having never used Western Union in the past is it a better method for ensuring if you send $x that the TD receives $x?

[cragster 0]

i know tsb to tsb is free if you go in a branch,but it costs online

[black263 228]

If you can do online banking, you can send funds to another UK account free of charge at both ends, and often within two hours. It's how I pay all my household bills, and there is the option to send money to another individual's account. I've bought several watches that way, including from Narikaa, and M2M.

[ShadyManc 0]

Ok, so useful information that I've just found out from Lloyds TSB, suspect it will be the same at other UK banks but do your own research.

 

An Int'l transfer in US Dollars through Lloyds TSB has to go through 3 banks, Lloyds TSB, an American intermediary bank because its US Dollars, and finally the receiptients bank. If you complete online you'll be charged £10 for the Lloyds TSB fee, any further fees that the intermediary bank charges are deducted from the transferred amount, these can range from $25-$40, depending on the US intermediary. The receiptients bank may also charge a fee, but that would not be taken from the monies you have sent, it would be taken from their account. This would be the receiptients responsibility in all cases and the TD's, I'd assume, build this into their pricing, if indeed their bank levies a transaction charge at all, some do, some don't.

 

I'm told that if you visit a branch then you have the option to pay all fees, other than the receiptients bank fees. You would pay £10 up front, then the fees would be deducted from your account when known, so between $25-$40.

 

If you bank with Lloyds TSB then you should factor in the above.

 

I would imagine that agreeing a sale price with the TD in GBP in advance would avoid the need for a US intermediary, as this only applies to transactions in US dollars. I will check this and let you know.

 

Hope this helps someone. I now have the challenge of getting $25 to the TD for shipping, without it costing me $25-$40 dollars in intermediary fees.

 

Quick question. Having never used Western Union in the past is it a better method for ensuring if you send $x that the TD receives $x?

Edited June 4, 2013 by Chubby

[watchguysydney 0]

Ok, so useful information that I've just found out from Lloyds TSB, suspect it will be the same at other UK banks but do your own research.

 

An Int'l transfer in US Dollars through Lloyds TSB has to go through 3 banks, Lloyds TSB, an American intermediary bank because its US Dollars, and finally the receiptients bank. If you complete online you'll be charged £10 for the Lloyds TSB fee, any further fees that the intermediary bank charges are deducted from the transferred amount, these can range from $25-$40, depending on the US intermediary. The receiptients bank may also charge a fee, but that would not be taken from the monies you have sent, it would be taken from their account. This would be the receiptients responsibility in all cases and the TD's, I'd assume, build this into their pricing, if indeed their bank levies a transaction charge at all, some do, some don't.

 

I'm told that if you visit a branch then you have the option to pay all fees, other than the receiptients bank fees. You would pay £10 up front, then the fees would be deducted from your account when known, so between $25-$40.

 

If you bank with Lloyds TSB then you should factor in the above.

 

I would imagine that agreeing a sale price with the TD in GBP in advance would avoid the need for a US intermediary, as this only applies to transactions in US dollars. I will check this and let you know.

 

Hope this helps someone. I now have the challenge of getting $25 to the TD for shipping, without it costing me $25-$40 dollars in intermediary fees.

 

Quick question. Having never used Western Union in the past is it a better method for ensuring if you send $x that the TD receives $x?

 

All that stuff about Telegrahic transfers and intermediaries is bang on.

 

I've used WU and the exchange rates are OK but there are no intermediary or other fees so you can come out in front depending on where youre senidng funds. I was actually quite impressed and did the whole transaction online and I've been in Fin Services for 20 years.

 

You can also choose the amount that the recipient receives so there's no inbound fees or intermediary fees. Frankly as bad as PayPal are they are the best in this space. Pity about their brutal policies around merchant chargebacks and freezing accounts.