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Done my first transfer of the above, sorry if this is a silly question.

Santander gave me two options, urgent and non urgent. 

I choose non urgent at £15 opposed to £25 for the other. Non urgent, I think, said next day. 

There has been no money taken from my account yet even though I did the transfer last night. Is this normal procedure for an IBAN 

Thanks 

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@zeusss4 hi

Firstly...that is a lot to pay for an IBAN..HSBC charge me £4.

Secondly, I suspect you missed the daily cut off time for international transfers, so this may not go through until Monday now.

Thirdly, depending on the amount transferred, Ppal may have be cheaper in future..(for small amounts)

Finally, I dont use It myself but I think @ChrisSIlver recommends another payment transfer method, which if used, the forum benefits..sure he can advise us on this one.

Hope that helps...

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Thanks hopefully it will go through Monday. I just thought they would still take the payment. 

It seems Santander are pretty steep then! 

I would have preferred PayPal as it’s more simple but unfortunately that wasn’t an option. Bank transfer or something I had never heard of before. 

Thanks 

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46 minutes ago, Kookaburracollector said:

Finally, I dont use It myself but I think @ChrisSIlver recommends another payment transfer method, which if used, the forum benefits..sure he can advise us on this one.

Yes, I wouldn’t recommend sending direct from your bank account at £15 a go, rather expensive. There are different options, some of the challenger banks (apps like Monzo and Revolut) charge very little if anything to do international transfers. There are also some traditional banks that charge smaller fees (although their exchange rates may not be as good)

Our preferred currency-broker for international transfers is CurrencyFair. (This is an affiliate link) I have used CurrencyFair myself multiple times in the past when purchasing precious metals from outside of the U.K. There is also Transferwise (which is what the Monzo bank app uses for international payments) 

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1 hour ago, zeusss4 said:

Thank you, if i ever need to do an international transfer I will look into the above 

You really should.

I was like you in the beginning, I even had a worse experience.

Now I only use transferwise, for every money transfer in another currency.

For e.g. a £200 transfer is the fee only £0,67, and you get good rates.

 

 

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Using a high street bank for foreign payments is usually a double whammy.  First is their fee and second is usually a poor exchange rate.

Paypal is also not a great option for sending foreign payments as their exchange rates are worse than most banks.

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