Cheapest way to get money to UK

jetsonx

Don't have a credit card at the moment have to get about €400 over to
an online shop in the UK...but what would be the cheapest way to do this?

shepthedog

Bank draft is quite cheap, you just pay the charges and postage

Or Paypal but there are fees etc associated with that but possibly the most likely that online shop will take

Or get loan of credit card which would be easiest all around.

James_M

You can do a cross currency transfer. If its not urgent the price isn't too bad but if it is urgent pe prepared to be ridden.

combs

iBan, international bank transfer? I don't know about the UK but for a Euro contry you just go into the bank, ask for it and fill out the yellow form. It's free. You need iBan and BIC numbers and stuff from the intended recipient. I think the UK is one of the participating countries. Enquire at your bank.

l3rian

Yes the UK is one of the 15 EU member states doing cross-border euro payments, so the recipient needs a euro bank account.

shoegirl

Sterling draft is your best bet, these are not too expensive in a bank.

Alternately get a friend with a credit card ww)

vector

If sending a bank draft then use registered post, with the stated value being the value of the draft, and keep the draft receipts.

Because if the intended adressee fails to take receive the draft you will otherwise have lost your money.

(In January I sent a GBP 250 draft to the UK by normal post. The receipant claimed to have not received the draft, so I went into the AIB where I had purchased the draft, with all my receipts, this was about 2 weeks after posting, they said the draft has not been cashed, but couldn't refund me the 250 for 2 years or more)

jetsonx

vector, you've really frightened me now! draft has been sent in unregistered post!

time 4 me to contact seller and confirm their receipt of same! thanx anyway.

RicardoSmith

It would be a lot safer to get someone with a credit card to get it for you. In that way you're covered by the insurance on the credit card. Personally I think you'd be nuts doing it any other way. I'd only send small amounts via sterling draft. When I've done it I've sent it via registered post.

nlgbbbblth

Originally posted by vector
If sending a bank draft then use registered post, with the stated value being the value of the draft, and keep the draft receipts.

Because if the intended adressee fails to take receive the draft you will otherwise have lost your money.

(In January I sent a GBP 250 draft to the UK by normal post. The receipant claimed to have not received the draft, so I went into the AIB where I had purchased the draft, with all my receipts, this was about 2 weeks after posting, they said the draft has not been cashed, but couldn't refund me the 250 for 2 years or more)

that sounds like rubbish

if a draft is mislaid in the post this happens

- you tell the Bank
- Bank checks to see if it was cashed
- if not they place a stop on the draft by contacting their UK agent [where draft is drawn on]
- once stop is confirmed they are in a position to issue a new draft - providing you sign an indemnity stating you will re-imburse Bank if lost draft is ever cashed

from my experience the above usually takes one week

J-537

Yeah I'd go with th Sterling Draft option with registed post.....

About €2.90c for the sterling draft & not sure but about 3/4 € to register it !

I use them all the time without any hassle and I've sent up to €500 at one time !

RicardoSmith

What do people think about giving out their bank details to people so they can do money transfers. I'm not keen on that Myself.

Victor

There is relatively little risk in giving people your bank details - they can't just take money out of your account just like that.

vector

Originally posted by nlgbbbblth
that sounds like rubbish

if a draft is mislaid in the post this happens

- you tell the Bank
- Bank checks to see if it was cashed
- if not they place a stop on the draft by contacting their UK agent [where draft is drawn on]
- once stop is confirmed they are in a position to issue a new draft - providing you sign an indemnity stating you will re-imburse Bank if lost draft is ever cashed

from my experience the above usually takes one week

Have you actually done that? when? what bank?
I hope you are correct

Victor

Originally posted by vector
Have you actually done that? when? what bank? I hope you are correct

There have been some high profile cases where drafts were mislaid - some for house sale contracts and the bank have said "Draft is as good as cash, come back in 7 years".

Apparently in some high value businesses drafts are literally used as cash

nlgbbbblth

Originally posted by vector
Have you actually done that? when? what bank?
I hope you are correct

yes; last year; Ulster Bank

eth0_

Originally posted by jetsonx
vector, you've really frightened me now! draft has been sent in unregistered post!

time 4 me to contact seller and confirm their receipt of same! thanx anyway.

What??? would you send cash unregistered and uninsured in the post? A draft is as good as cash you nutter!

jetsonx

So, If I go to a Bank with a draft made out to XYZ Ltd. Surely the bank would require that the draft be paid into the account of XYZ Ltd.

Surely any old Joe Bloggs cannot walk into a bank and cash a draft made out to a company??

RicardoSmith

Originally posted by jetsonx
So, If I go to a Bank with a draft made out to XYZ Ltd. Surely the bank would require that the draft be paid into the account of XYZ Ltd.

Surely any old Joe Bloggs cannot walk into a bank and cash a draft made out to a company??

In my experience it depends on the bank. They seem to make rules and discard them at the drop of a hat.

nlgbbbblth

Originally posted by jetsonx
So, If I go to a Bank with a draft made out to XYZ Ltd. Surely the bank would require that the draft be paid into the account of XYZ Ltd.

Surely any old Joe Bloggs cannot walk into a bank and cash a draft made out to a company??

no they can't

any Bank that cashed such a draft would be deemed negligent

eth0_

How long does it take to send money via IBAN? I'm sending 300 euro to Germany today and i'm hoping it's only going to cost a few euro and that the receiver will get the money in the next day or two, am I right in thinking this?

nlgbbbblth

Originally posted by eth0_
How long does it take to send money via IBAN? I'm sending 300 euro to Germany today and i'm hoping it's only going to cost a few euro and that the receiver will get the money in the next day or two, am I right in thinking this?

cost for payments under €12500 once you have IBAN is something like 51c

normally payments are sent "spot" - i.e. receiver gets the money in 2 working days - but payment should be processed before lunchtime to achieve this

sending the payment for "same day value" will incur a charge - possibly around €20 and is not worth it

eth0_

Originally posted by nlgbbbblth
cost for payments under €12500 once you have IBAN is something like 51c

It's 75c. I went to the AIB in the IFSC yesterday, filled in all the forms etc etc they said the forms will be sent to my bank the next morning and they'd process it immediately. Well it's now nearly closing time for the banks and they haven't processed it because they haven't taken money out of my account!

F*cking USELESS. I explained I needed to have that money received by Friday and there's no chance of that happening now. GOD I hate banks.

nlgbbbblth

Originally posted by eth0_
It's 75c. I went to the AIB in the IFSC yesterday, filled in all the forms etc etc they said the forms will be sent to my bank the next morning and they'd process it immediately. Well it's now nearly closing time for the banks and they haven't processed it because they haven't taken money out of my account!

F*cking USELESS. I explained I needed to have that money received by Friday and there's no chance of that happening now. GOD I hate banks.

hmmm, I can't speak for AIB
usually for a 2 day payment - say done Wednesday - you are usually not debited until Friday - so maybe not to worry