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Bank Transfer

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  • 04-09-2012 6:08pm
    #1
    Bane
    Registered Users Posts: 133 ✭✭


    Hi all! I've got a query that involves a bank transfer being made from a UK account to my BOI account. The sender sent x amount of money in £ to my account. And after the transfer the currency conversion doesn't add up ie. I'm short. So I was wondering who and when is the currency conversion is made. Cuz the amount that came through, there's no conversion in the past few weeks would amount to that short.

    So the sum he sent was £1325 and he said there was a £10 fee for the transfer, so that leaves £1315 which converts to abt €1670. But I received €1619. That was seen today. So where did the missing €50 go to? And again who's responsible for the conversion? Many thx in advance!


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    #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    Are you using your banks conversion rate or the xc.com one?


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    #3
    Bane
    Registered Users Posts: 133 ✭✭Bane


    I'm just typing '1315gbp to euros' in google and checking the rates from the websites that come up. XC.com etc.
    Stheno wrote: »
    Are you using your banks conversion rate or the xc.com one?


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    #4
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    Bane wrote: »
    I'm just typing '1315gbp to euros' in google and checking the rates from the websites that come up. XC.com etc.

    xe.com is the wholesale rate so to speak, your bank will have a different rate which usually gives less than xe.com


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    #5
    Bane
    Registered Users Posts: 133 ✭✭Bane


    Stheno wrote: »
    Bane wrote: »
    I'm just typing '1315gbp to euros' in google and checking the rates from the websites that come up. XC.com etc.

    xe.com is the wholesale rate so to speak, your bank will have a different rate which usually gives less than xe.com

    Ok that's fair enough. Hopefully their conversion rates work the other way round as well. If I send €1619 I get £1315 as well!

    Thx for the replies m8.


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