Bank fees

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zorbas2
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Bank fees

Post by zorbas2 » Wed Apr 16, 2014 4:52 pm

I am having an account with Piraeus Bank in Kalamata. Last year their charges for incoming transfers within EU countries went from 2.-- to 3.-- EUR (for smaller amounts)
We then went to other banks (Emporiki, Alpha, Eurobank and even Postbank and asked for their charges. Everywhere they told us that they have about the same charges.

Since beginning of April my bank charges now even 4.-- EUR per transfer!!

I was told that this is general practice in Greece although it is against European laws...

Now my question: Does anyone know a bank where these transfer charges for money send from outside of Greece to a Greek bank account is significantly lower??
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The Grocer
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Re: Bank fees

Post by The Grocer » Thu Apr 17, 2014 4:41 pm

I tend to use "Transferwise" (see link below), and despite being charged 3 euro by Eurobank the rates given by Transferwise more than cover it against normal bank currency rates

Link:- https://transferwise.com/u/5c09

libran
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Re: Bank fees

Post by libran » Fri Apr 18, 2014 12:40 am

I normally use xe trade. I just did a quick check and the difference is 1.19 XE and 1.21 Transferwise plus free transfer. I need to send a chunk over shortly to Alpha Bank. Are you completely happy with this organisation Grocer. If so I will use them.

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The Grocer
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Re: Bank fees

Post by The Grocer » Fri Apr 18, 2014 2:19 pm

I have used Transferwise on many, many occasions. They are unbelievably fast at transferring the money, whilst they give a more extended transfer time each time my money has been actioned within 24-48 hours.
The system was set up by two of the co-inventors of PayPal and the Strategy director of Skype.
Whilst registered by the UK Financial Services Authority it is not covered by the Financial Services Compensation Scheme.
I have kept my exchanges to a few thousand pounds at a time, I would probably not use it if I wanted to transfer 20,30,40,000 pounds etc. (as if I have the money to do that :))

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Re: Bank fees

Post by zorbas2 » Fri Apr 18, 2014 4:59 pm

Actually most of my clients will transfer money in EUR anyway. So it's not about the currency exchange - it's just about the incoming transfer fees by the Greek banks...
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folknblues
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Re: Bank fees

Post by folknblues » Fri Apr 18, 2014 7:09 pm

Eurobank is still 3€ and has been for a long time!

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Re: Bank fees

Post by zorbas2 » Fri Apr 18, 2014 9:18 pm

3.-- EUR by 200 still makes 600.-- a year!! But thanks anyway! However - still looking and hoping...
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Re: Bank fees

Post by libran » Fri Apr 18, 2014 11:45 pm

Thanks for that

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aloni
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Re: Bank fees

Post by aloni » Thu Apr 24, 2014 12:11 am

I use TorFX for transfers of GBP to euros (£1000 and over) as they give good exchange rates and transfer the funds fast.

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