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European Transfers
Hello,
I have just struck up a new business deal with a European company which requires me to transfer funds to their account in Europe to pay invoices. I didn't think that this would be a problem as I thought I would be able to log into internet banking and transfer the money just like I normally do.
Unfortunately when I tried this I couldn't find the option to transfer funds to foreign bank accounts. I bank with Natwest in the UK and the online banking system can only be used to transfer domestically.
I then tried phoning Natwest telephone banking to do the transfer. I was then told that I wasn't able to do this unless I visited the bank in person.
This is very inconvenient and not something that I want to do every time. Is this something that every business bank account requires? I may consider switching accounts if it's easier with other banks.
Thanks
Andrew
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There are very few countries that allow bank transfers. I have always just used bank wires, they are more costly, but get the job done. One caveat, you must go to the bank.
Gordon
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Yes that's what I discovered. I have to go to the bank every time I want to send a transfer. This is difficult when I have to pay multiple invoices every month from European countries. I was wondering whether Santandar would allow this online. I will have to check and keep you posted.
I can do transfers within the UK with my natwest busingss account. This is great actually because it supports faster payments which means I can get the money in a couple of hours. However transfers to Europe aren't as much fun
Andrew
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