Transfer of Funds (SEPA or NON-SEPA)

Crash Override

Hi there,

I wish to transfer funds but not sure how to add the Payee in 365 Online properly.

The Beneficiary's bank is in Russia but the Correspondent bank of Beneficiary's bank is in Germany (to faciliate payements by Euro).

For the corresspondent account I have the SWIFT/BIC code and the Account .With corresp. Bank No.

I have a lot more information about the Russian account

My question is, To pay in Euros I have to transfer the funds to Corresspondent account, so do I need to set up a Payee under a SEPA Transfer or do I set it up via Non-SEPA.

Second questions is what information from either banks will I need for this?

Regards.

Bank of Ireland: Elaine

Hi Cash Override, 

Thanks you for getting in contact with us here on Boards.ie. 

To make a transfer to Russia you will need to add the Russian bank details as an International payee. You will require the Russian BIC (Bank Identifier Code), National Sort Code and account number. 

While the Russian bank may use a German intermediary bank to process this, it is not necessary to include German bank details in your transfer as this will be managed by the them directly. 

Just to mention, it is only possible to complete this transfer on 365Online in Euro currency. 

For more information to assist you with this transfer, please see here. 

We hope this helps and if we can assist you with anything else, please don't hesitate to contact us again. 

Thanks, 
Elaine 

Crash Override

Bank of Ireland: Elaine wrote: »

Hi Cash Override, 

Thanks you for getting in contact with us here on Boards.ie. 

To make a transfer to Russia you will need to add the Russian bank details as an International payee. You will require the Russian BIC (Bank Identifier Code), National Sort Code and account number. 

While the Russian bank may use a German intermediary bank to process this, it is not necessary to include German bank details in your transfer as this will be managed by the them directly. 

Just to mention, it is only possible to complete this transfer on 365Online in Euro currency. 

For more information to assist you with this transfer, please see here. 

We hope this helps and if we can assist you with anything else, please don't hesitate to contact us again. 

Thanks, 
Elaine 

Hi Elaine,

Thanks for getting back to me on this.

I think the other side are getting confused because they say if I want to pay by dollars then send it to the Russian account but for Euros they gave me the BIC for the German one.

So if I transfer the amount I need in Euro to the Russian account do you think the Bank will sort out conversion itself?

For example if the Price is 1500 Dollars, if I send the Equivilent amount in Euro roughly 1336 or whatever, then they should be able to sort the rest out on the other side?

Regards,

Bank of Ireland: Elaine

Hi Cash Override, 

As it is only possible to transfer to a Russian bank on 365Online in Euro, it may be best to contact the Russian bank just to clarify their transfer protocol again.

If they confirm that you can send the Euro transfer directly to the Russian account, please note that the intermediary bank and the Russian bank may apply their own fees and conversion rates. 

Just to mention, you can also call into your local Bank of Ireland branch to request a transfer to go through an intermediary bank. 

We hope this helps, 

Elaine