Another bank rant. I have been trying today to find out how much it would cost me to receive some money in US dollars wired to my bank account. HSBC’s web site does not detail these charges, but two (yes TWO - because the person I thought could answer my question was unable to but she gave a number of who might) phone calls yielded some nebulous information.

It will cost between £8 and £15. I told them how much I thought would be transferred (actually a minimum figure -this is a spot of research for some people I work for), and they could not narrow it down. I’d have to actually get the payment to see what it will cost.

I have also found out that HSBC in the UK is a separate business entity to HSBC in the USA, so shunting money around, even between accounts held with them in each territory will yield fees at both ends of the transaction.

What is annoying is the lack of information on their web site (Natwest and Barclays actually tell you what their fees are up front). The only information on HSBC’s site about receiving payments is in their international bank account section, where it says that they would only tell you once you have signed up for that particular account. That account appears to be a fees magnet.

My next port of call is to drop a complaint their way. Yes, I ranted here first, you lucky, lucky people!

Hidden fees; they're in a banks DNA.

Natwest and Barclays detail their charges on their web sites. Lloyds TSB are clearly secretive too. I guess that HSBC employ a sliding scale based, no doubt on the kind of account you have, and they don’t want to publicise their odd charging scheme.

I work for an export company so often receive funds from overseas. The whole thing is a scam.

The worst are the state bank of india, they charge the transmitting customer and they use a uk corresponding bank who charge before money hits your account.

It is quite common for us to receive small transfers of £150 where £25 has been deducted from the transfer before it hits, despite them ticking all charges to their account.

I hate banks.

you would probably be better off getting them to send you dollar bills.

Didge

Abbey charge me a flat fee of about 45 quid, when I want to send money to my account in Germany (although I only get charged on one end).

I cashed a cheque at Deutsche Bank the other week, I think they charged me a percentage, which worked out at just over a hundred quid!

£45 .. for what? typing something into a keyboard for 5 seconds .. It's robbery.

No wonder they make the profits they do... made me laugh that Goldman capped their bonuses at £1million each.

This is a company that took a $12 billion USD bail out. I just don't get it. None of them should be paying a penny in bonuses until every penny is paid back to governments.

Didge.

(p.s. I understand GS are not a high street bank but i'm ranting .. about the banks .. still)

what cost the less (as i found out) is to remove money at an ATM and put it in your account. It's only 2% amount + 3.50£

I'm gonna lose £25 on a £1k electronic transfer between two UK banks, though that could have been £15 if my father wasn't an absolute moron

Oh, and the extra tenner was to ensure the money went in today (which is obviously a fcuking scam ), and it still hasn't

I def. would have just withdrawn it and put the money back in the other bank

By your method that would have only saved £1.50, presuming you can do the whole lot at once.

between two UK bank, withdrawal should be free

OK I need to learn to read.

Yip, normally that's the way it would have happened, but it's a lot more complicated than that unfortunately (boringly so, and I suspect the aforementioned moron has made it even more so)

Standing Order? That would be free.

See above, and I'd sooner lose the money than try to get answers from my dad, believe me - you've never met anyone quite like my dad who has a minor electrical impulse in their brain and thinks they're on a roll