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Bank Charged Sender Admin fee

  • 15-02-2018 12:46pm
    #1
    Sully
    Moderators, Education Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 24,056 Mod ✭✭✭✭


    A strange one. I had someone in the UK Transfer money into my KBC Deposit Account. I've done it twice before without an issue. On this occasion, KBC rejected the money and debited 20 from the amount being sent from the third party, sending back the rest.

    Surely that's not appropriate and if there was to be some reason why a charge is due it should hit the account the transaction was going into and not be taken from a third party, whose not at fault?

    KBC have yet to call and clarify what's gong on, there currently looking into it.


Comments

  • #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,223 Mod ✭✭✭✭godtabh


    Why dont you ask KBC

    https://www.boards.ie/ttforum/1628


  • #3
    Sully
    Moderators, Education Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 24,056 Mod ✭✭✭✭Sully


    godtabh wrote: »
    Why dont you ask KBC

    https://www.boards.ie/ttforum/1628

    I have. As above.
    Sully wrote: »
    KBC have yet to call and clarify what's gong on, there currently looking into it.

    I'm posting here for a general opinion.


  • #4
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,223 Mod ✭✭✭✭godtabh


    Sully wrote: »
    I have. As above.



    I'm posting here for a general opinion.

    I read that wrong.

    I'm with KBC. It appears they make a lot of money through their fees/penalties. I was sent sterling into an account before and they wouldn't accept it but dont remember them taking a fee for it.


  • #5
    Sully
    Moderators, Education Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 24,056 Mod ✭✭✭✭Sully


    Just to update. The transaction failed because this type of account only takes SWIFT payments and not SEPA. KBC advised that the funds sent were exactly what was sent back- nothing less.


  • #6
    daheff
    Registered Users, Registered Users 2 Posts: 5,871 ✭✭✭daheff


    what kind of account is it?


    AFAIK all EUR accounts should accept SEPA payments.


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  • #7
    Sully
    Moderators, Education Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 24,056 Mod ✭✭✭✭Sully


    daheff wrote: »
    what kind of account is it?


    AFAIK all EUR accounts should accept SEPA payments.

    A Deposit Account. Apparently this particular account won't take SEPA payments


  • #8
    Sully
    Moderators, Education Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 24,056 Mod ✭✭✭✭Sully


    So the third parties bank, TSB UK, have now backtracked and advised that the €20 was not taken by KBC as they originally insisted not was it taken by them. They advise a third party bank, a middleman in the transfer, took it.

    Seems like a load of codswallop to me


  • #9
    daheff
    Registered Users, Registered Users 2 Posts: 5,871 ✭✭✭daheff


    Sully wrote: »
    A Deposit Account. Apparently this particular account won't take SEPA payments

    I'd be very interested to hear how this is the case. I suspect that the account is not really a 'true' bank account on the books of the bank.....and once funds are transferred by swift the bank applies it to its own ledgers.

    But it really should be able to accept SEPA transfers....like if you move money from your personal account to it
    Sully wrote: »
    So the third parties bank, TSB UK, have now backtracked and advised that the €20 was not taken by KBC as they originally insisted not was it taken by them. They advise a third party bank, a middleman in the transfer, took it.

    Seems like a load of codswallop to me

    that would be a regular thing for correspondent banking.

    Basically it sounds like TSB UK do not have a direct Swift relationship with your bank, so they need a middleman (correspondent bank) that has a relationship with both banks to process the transfer.

    Correspondent bank does not work for free and can charge a lot more than 20 EUR for their work.


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