DarrenW
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| posted on 3/6/13 at 02:37 PM |
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How long do bank transfers take from EU?
Just a quickie to the fountain of all knowledge!
Do any fellow locosters have clients in EU and get paid via bank transfer into their UK account - probably ideally into a business account? Just
wondering how long the transfers normally take to clear?
My client in eastern Europe set up a transfer last Thursday but its not showing in my account yet. Should i be worried or am i still within normal
lead-time? Its being transferred from a Euros account into my GBP account. I dont think it has been set up as a SEPA payment. Its the first time ive
done this so not sure what is normal.
I guess they could have missed the Thursday deadline, so Friday would have been the first day and today (Monday) would technically only be the next
working day so far.
I have a mate who regularly makes transfers from a UK bank account to an account he has in Europe and says they always clear next working day, not
sure if personal/domestic transfers work differently to business payments though.
Cheers,
Darren.
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Jasper
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| posted on 3/6/13 at 02:42 PM |
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There is no set time, I use one service from Santander that takes a week to get payments made to the US, yet the same service with the post office
took 5 minutes!
As far as I know there is no difference between the types of accounts, only what service you use to send the money.
If you're not living life on the edge you're taking up too much room.
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TimEllershaw
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| posted on 3/6/13 at 03:16 PM |
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I've transfered money the other way, to make payment to people in Europe. In those cases it took 3 working days : I send via Lloyds TSB online
banking at the end of play Thursday, and they can see it arrive in their bank (business account) on Tuesday morning.
Hope that helps.
http://www.teenagecancertrust.org/
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DarrenW
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| posted on 3/6/13 at 03:22 PM |
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That does help, thanks.
After doing some research it appears i could ask my client what "Value Date" was put onto the transaction. Im guessing if i set up such a
payment then the bank would generate some sort of electronic conformation.
If i dont see the money tomorrow morning i might ask them if they have the electronic notification o i can also check they have used the correct IBAN.
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russbost
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| posted on 3/6/13 at 04:42 PM |
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I've had several payments from Germany into the bank, longest took 4 or 5 working days, quickest was same day!
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slingshot2000
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| posted on 3/6/13 at 04:51 PM |
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I "know" that one from Singapore took 7 days last month !
Regards
Jon
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DarrenW
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| posted on 3/6/13 at 04:56 PM |
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Sounds like i'm well within normal leadtime then at the moment. I was told it would clear by end of following working day so expected it last
Friday. Never mind, fingers crossed for tomorrow.
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MikeCapon
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| posted on 3/6/13 at 07:19 PM |
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I do this all the time. It's four 'banking' days. Which are not to be confused with working days. Just as bankers are not to be
confused with workers... 
www.shock-factory.co.uk
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slingshot2000
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| posted on 3/6/13 at 08:02 PM |
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quote:
Originally posted by MikeCapon
I do this all the time. It's four 'banking' days. Which are not to be confused with working days. Just as bankers are not to be
confused with workers...
I had to read that twice, I thought you said; "don't confuse bankers with w@nkers" !
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DarrenW
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| posted on 3/6/13 at 08:17 PM |
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quote:
Originally posted by slingshot2000
quote:
Originally posted by MikeCapon
I do this all the time. It's four 'banking' days. Which are not to be confused with working days. Just as bankers are not to be
confused with workers...
I had to read that twice, I thought you said; "don't confuse bankers with w@nkers" !
I had to read the 4 banking days bit twice!!!!!
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Jasper
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| posted on 4/6/13 at 09:00 AM |
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It's not 4 days, it's whatever service you pay for, I regularly get payments from the Eu and Switzerland same day.
If you're not living life on the edge you're taking up too much room.
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DarrenW
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| posted on 4/6/13 at 03:37 PM |
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Oh well, day 3 has come and gone. Company have confirmed the cash has left their account last Friday. Ive seen the bank confirmation and my details
are all correct.
Not sure what service they have paid for, but they did say it is the same one they always use for Euro zone payments and payments to other European
suppliers clear next day. i wonder if the Euro to GBP conversion process takes a lot longer. I cant believe in this day and age that banks still keep
to their old archaic calendars despite computers doing the work!
Rant Over!
[Edited on 4/6/13 by DarrenW]
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gremlin1234
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| posted on 4/6/13 at 06:14 PM |
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quote:
Originally posted by DarrenW
I cant believe in this day and age that banks still keep to their old archaic calendars despite computers doing the work!
they keep it slow, they have your money for longer.
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