Edward Trunk Posted October 28, 2009 Share Posted October 28, 2009 I want to send a cheque drawn on my Credit Ag account here to a relative in Dublin. It is a euro-to-euro transaction. I assume there will ne no problems about this. Does anyone know if it will attract enormous charges, either to my account of the payees? Link to comment Share on other sites More sharing options...
cooperlola Posted October 28, 2009 Share Posted October 28, 2009 I googled the Bank of Ireland just out of interest and found their brochure on international transaction charges: http://www.bankofireland.ie/html/gws/includes/business/pdfs/int_txn_chrg_220909.pdfIt's hard to read but seems to me to say this is free. Don't know about other Irish banks of course. Maybe google the bank to whom your sending the cheque. Link to comment Share on other sites More sharing options...
Pierre ZFP Posted October 28, 2009 Share Posted October 28, 2009 If you have online banking, why don't you just get the relative's IBAN and do a direct payment. No charges involed either way then. Link to comment Share on other sites More sharing options...
Cat Posted October 28, 2009 Share Posted October 28, 2009 Even though the cheque is in euros, it looks like Credit Agricole will charge it as an international operation, 15 € for paying out a cheque abroad.http://www.ca-nmp.fr/Vitrine/ObjCommun/Fic/NMP/Pdf/UK/TarifsUK.pdf second page Link to comment Share on other sites More sharing options...
Anton Redman Posted October 28, 2009 Share Posted October 28, 2009 My reading was € 15.24 collections of foreign cheques. I could not believe they would do it for nothing. Link to comment Share on other sites More sharing options...
Mr Coeur de Lion Posted October 28, 2009 Share Posted October 28, 2009 I know CA charged me €15 when I received a cheque in euros from the UK. Greedy barstewards.(In contrast, my UK bank only charges £5 to exchange foreign cheques, and they can even change cheques in US dollar. CA cannot. Well they can but they charge over $70 to do it.) Link to comment Share on other sites More sharing options...
Pickles Posted October 28, 2009 Share Posted October 28, 2009 [quote user="Edward Trunk"]I want to send a cheque drawn on my Credit Ag account here to a relative in Dublin. It is a euro-to-euro transaction. I assume there will ne no problems about this. Does anyone know if it will attract enormous charges, either to my account of the payees?[/quote]The Irish and French cheque clearing systems are not really connected, so your relative will probably be clobbered with charges when they present the cheque. Best way is to do some form of electronic transfer.RegardsPickles Link to comment Share on other sites More sharing options...
allanb Posted October 29, 2009 Share Posted October 29, 2009 [quote user="Pickles"]Best way is to do some form of electronic transfer.[/quote]I agree, but I think you can be more specific. This will be a euro transfer within the SEPA (Single Euro Payments Area), which means that Cr Ag are not supposed to charge you any more than they would for a transfer within France. I wrote "not supposed to" because I don't know for sure that all French banks have signed up to the SEPA agreement. FWIW my bank (Banque Postale) has. Link to comment Share on other sites More sharing options...
amos Posted October 29, 2009 Share Posted October 29, 2009 Your relative will almost certainly be charged to cash your euro cheque here in Ireland, incredibly (as I have learnt to my cost) a euro cheque drawn on a 'foreign' bank attracts the same charges as a cheque in another currancy. So much for the eurozone! As previous posters have said the way to go is an interbank transfer, simple and FREE! Link to comment Share on other sites More sharing options...
allanb Posted October 29, 2009 Share Posted October 29, 2009 [quote user="amos"]As previous posters have said the way to go is an interbank transfer, simple and FREE![/quote]Are you sure about this? Please tell us: which bank does interbank transfers free of charge? Link to comment Share on other sites More sharing options...
Pickles Posted October 29, 2009 Share Posted October 29, 2009 [quote user="allanb"][quote user="amos"]As previous posters have said the way to go is an interbank transfer, simple and FREE![/quote]Are you sure about this? Please tell us: which bank does interbank transfers free of charge? [/quote]SocGen now does SEPA payments free (to Euro accounts in France AND abroad) if they are initiated via theironline banking system (3.20€ if arranged in-branch). This is a recentdevelopment (ie this year), as previously they charged 3.20€ fortransfers to accounts in either a different French bank or Euro-areabank, whichever way they were initiated. Other banks may be following suit. Check your bank's latest scale of charges.RegardsPickles Link to comment Share on other sites More sharing options...
allanb Posted October 29, 2009 Share Posted October 29, 2009 Good news. I admit I'm always sceptical when I hear that a bank is doing something free: after all, they must be making profits somewhere to cover their operating costs. However, if you're sure you're getting something for nothing, go for it! Link to comment Share on other sites More sharing options...
andyh4 Posted October 30, 2009 Share Posted October 30, 2009 [quote user="allanb"][quote user="Pickles"]Best way is to do some form of electronic transfer.[/quote]I agree, but I think you can be more specific. This will be a euro transfer within the SEPA (Single Euro Payments Area), which means that Cr Ag are not supposed to charge you any more than they would for a transfer within France. I wrote "not supposed to" because I don't know for sure that all French banks have signed up to the SEPA agreement. FWIW my bank (Banque Postale) has.[/quote]CA have signed up - indeed I did not think European banks had any choice in the matter. Every bank is bound by the same rules - it's just that in some countries - the UK for example - electronic tranfer is not a normal way to conduct banking business so they can charge what they like - and do. CA charge me around 2€50 for an electronic transfer - much less than cashing a foreign cheque (21€ with my German bank). Link to comment Share on other sites More sharing options...
Pickles Posted October 30, 2009 Share Posted October 30, 2009 [quote user="allanb"]Good news. I admit I'm always sceptical when I hear that a bank is doing something free: after all, they must be making profits somewhere to cover their operating costs. However, if you're sure you're getting something for nothing, go for it! [/quote]I can assure you that I was VERY surprised (pleasantly, for a change) to see that SocGen were doing free online-originated SEPA payments: last year I paid 3.20€ to do one originated online: I think it only came in with the new tarifs in March this year. Getting anything for nothing from a French Bank is novel, to say the least. However, the interest rate on savings is best examined using a microscope...RegardsPickles Link to comment Share on other sites More sharing options...
amos Posted October 30, 2009 Share Posted October 30, 2009 I regularly transfer money between my a/c here in Ireland to my CA a/c in France at no cost at either end. I think there is a currency limit of about €5,000 on this and if you need the funds sent urgently there is a charge of €12.50. The non urgent transfer only takes a max of 3-4 days so I have never had occasion to pay this. An added bonus is that I can do the transaction from the comfort of my own laptop. Link to comment Share on other sites More sharing options...
allanb Posted October 30, 2009 Share Posted October 30, 2009 My bank (Banque Postale) charges €3.20 for a euro-to-euro transfer whether in France or anywhere else in the SEPA, which is in accordance with the SEPA principle. However, they have a crafty rule that the maximum amount of any such transfer is €3,000. So when I recently transferred about €7,000 to a euro account in the UK, I had to break it up into 3 amounts and got charged €3.20 for each one. Link to comment Share on other sites More sharing options...
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