Receiving money using IBAN
 

I've sold an item through SN to a guy in The Netherlands and trying to sort out the money transfer.
He doesn't use paypal but has requested my International Bank Account Number to transfer the money to.
I've had a search on here but i'm really none the wiser.

Is it a case of contacting my local branch and getting a number?

Also, I expect there to be charges involved, so who'll pay these, me or him?

Cheers,

Matt

Hi there. Yes you need to get in touch with your bank for the IBAN and BIC numbers. The sender will pay a fee on his end and you will be effectively charged a (small) amount via the exchange rate used. Hope this helps

Much obliged.

Any idea how long it takes for the funds to clear?

Quicker than UK to UK banks. About three days

Thanks alot mate :thumb:

For those who bank with barclays they go to the trouble of printing your IBAN & SWIFTBIC numbers on your statements so you can do deals with your european friends super easy!

I made the dud decision of Banking with the Halifax i'm afraid.
If Barclays can do it, why can't the rest of them?

Lloyds TSB do .......

Dave

I'm going to check my statement.....

It's on there (quickly retracts the above statement - Halifax are brill!)

que tune "who gives you extra..."

Cheers fellas.

Do I just need the IBAN and BIC number, or my bank account number and sort code aswell?

All of them

You shouldn't need a/c and sort code, that's what your IBAN and BIC are.

You can try the belt and braces approach, but the Dutch guy's bank might not know where to enter them on the form :)

I believe it's part of EU standardisation that the IBAN and BIC should be printed on every statement, from last year.

Would imagine he's using his Internet banking account to do it, so the IBAN, BIC and account name would be all he needs to make the payment online. :)

I occasionally make payments from Holland to the UK to help repair the economy that NL has made such a mess of :o and funds usually hit my UK account within 2 days of leaving here.

HTH

Suresh