Bank and credit card charges for inter-EU money transfers Thread poster: Alison Schwitzgebel
|
Just got this message from a friend of mine and thought it might be useful for you guys too. It specifically relates to events organized by our international running club network, but should also apply to translation payments. "Since the 1st of July, a new EU-wide bank regulation has come into effect. All transfers that supply a correct IBAN and BIC for the destination account less than 12,500 Euros should be at the same price as a domestic transfer. T... See more Just got this message from a friend of mine and thought it might be useful for you guys too. It specifically relates to events organized by our international running club network, but should also apply to translation payments. "Since the 1st of July, a new EU-wide bank regulation has come into effect. All transfers that supply a correct IBAN and BIC for the destination account less than 12,500 Euros should be at the same price as a domestic transfer. The BIC is the Bank Identifier Code and the IBAN is the International Bank Account Number. An account holder can request this information from their bank at no charge. However, they should then inform people making payments to them. Note that as an IBAN contains validation information, there is little possiblity of a payment getting to the wrong account. If you do not quote a correct IBAN/BIC combo, then expect a service charge. Note, this regulation is EU-wide, not just for the Euro-zone however it only applies to payments made in Euros (strangely enough, also Swedish Kronor). The countries mentioned include ISO Codes: AT,BE,DE,DK,ES,FI,FR,GB,GF,GI,GP,GR,IE,IT,LU,MQ,NL,PT,RE,SE (taken from table 4 in ECBS Standard TR201V2.2.25). The regulation (in case you have to quote it) is 2560/2001 and it came into effect on the 1st of July. This is an EU regulation not just from the ECB. For some strange reason, many banks are trying to keep this one quiet. International credit-card surcharges *should* also vanish within this area, but remember that clearing credit cards is expensive and costs the recipient up to 6% of the charge in processing fees. When you see an away event organised in any of the above countries, contact the organisers and get them to send you the IBAN and BIC of their event account. Explain why and you are welcome to forward this Email as an explanation. If you are organising an event, please make sure that you advise people of the IBAN and BIC of the bank account that you are using." Best, Alison ▲ Collapse | | | Ralf Lemster Germany Local time: 17:55 English to German + ... Check various other threads | Sep 2, 2003 |
Thanks, Alison - for more details regarding IBAN & BIC, check out the "Business Issues" forum as well as some earlier threads in this forum. Best regards, Ralf | | | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » Bank and credit card charges for inter-EU money transfers Trados Studio 2022 Freelance | The leading translation software used by over 270,000 translators.
Designed with your feedback in mind, Trados Studio 2022 delivers an unrivalled, powerful desktop
and cloud solution, empowering you to work in the most efficient and cost-effective way.
More info » |
| Wordfast Pro | Translation Memory Software for Any Platform
Exclusive discount for ProZ.com users!
Save over 13% when purchasing Wordfast Pro through ProZ.com. Wordfast is the world's #1 provider of platform-independent Translation Memory software. Consistently ranked the most user-friendly and highest value
Buy now! » |
|
| | | | X Sign in to your ProZ.com account... | | | | | |