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 Post subject: money transfer
PostPosted: December 2nd, 2015, 4:42 pm 
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Joined: December 2nd, 2015, 3:32 pm
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could anybody offer any advice? i want to transfer some money from my Italian bank account to my UK account, but the bank are telling me that the legislation has changed from the previous times I have done it. The bank no longer answer my emails so any advice would be welcome


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 Post subject: Re: money transfer
PostPosted: December 3rd, 2015, 5:12 pm 
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Joined: June 25th, 2008, 6:39 pm
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi baldilox,
What bank are you with? Reading your request it would appear that you are with Barclays as they have a habit for not replying to emails!! Were you trying to transfer by telephone or by email which could prove problematic?
I have always transferred money into my Italian account and transfers within Italy without any problems using their Pagmenti / Payments then Bonfico Estero / Bank Transfers-Foreign links on thier website. The last time I used this feature was about 3 months ago. I have had no communication from Barclays of any changes so I don't think that transferring money from Italy via their website should be any different.
You should take into account what FX rate the bank will use and how much they may charge you for receiving your money.
Good luck.


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 Post subject: Re: money transfer
PostPosted: February 4th, 2016, 4:12 pm 
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Joined: December 2nd, 2015, 3:32 pm
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davidnam wrote:
Hi baldilox,
What bank are you with? Reading your request it would appear that you are with Barclays as they have a habit for not replying to emails!! Were you trying to transfer by telephone or by email which could prove problematic?
I have always transferred money into my Italian account and transfers within Italy without any problems using their Pagmenti / Payments then Bonfico Estero / Bank Transfers-Foreign links on thier website. The last time I used this feature was about 3 months ago. I have had no communication from Barclays of any changes so I don't think that transferring money from Italy via their website should be any different.
You should take into account what FX rate the bank will use and how much they may charge you for receiving your money.
Good luck.


Hello David, since i cant transfer money out of Italy electronically because of the change in money laundering rules, i requested that they send me a cheque book. This wa requested in mid Nov, i just chased it up again and they tell me they cant do that either!!! the only way I can get money out is to go to a Monte dei paschi branch in person. :evil: :evil: :evil:


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 Post subject: Re: money transfer
PostPosted: February 5th, 2016, 12:55 pm 
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Joined: June 25th, 2008, 6:39 pm
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hello again baldilox,
You didn't confirm the bank that you are using in Italy.
If it is Barclays, some time ago we all had when we initially signed up with them and if I recollect some time later, signed papers for their anti-laundering rules so there should in theory be no issues.
I presume that you telephoned them to transfer your money when they told you to visit your branch.
When trying to transfer funds electronically, presumably using their Payments (Pagmenti) - Bank Transfers - Foreign (Bonifico Estero) facility on their Barclays Home Banking website, what actually happened to prevent you sending the funds?
I haven't had to send money from my account to UK, all the transactions I have made electronically have been within Italy. The Home banking website facility does say "Payments" and "Bank Transfers-Foreign"!!
Telling you to visit their branch in Monte dei paschi branch (in Siena?) in person is a nonsense! They have told me this sometime ago to visit my Milan branch when I had issues with them. It's a means of trying to fob you off!!
Barclays are being taken over by another Italian Bank, hopefully with a better customer services.
Good luck.


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 Post subject: Re: money transfer
PostPosted: February 5th, 2016, 2:06 pm 
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Joined: March 10th, 2009, 3:25 pm
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Hello davidnam
What is the name of the bank that is taking over from Barclay's?and do you know if it will change the mortgage in any way?Thank you.


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 Post subject: Re: money transfer
PostPosted: February 5th, 2016, 4:32 pm 
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Joined: June 25th, 2008, 6:39 pm
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Doodles,
The Barclays Italia operation is being sold to the Mediobanca Group.
Look at the Forum's Board Index - Finance & Currency, third item down.
As regards mortgages I am not sure what the situation will be whether they stay with Barclays or more likely if they are buying the whole 'Book' from Barclays the mortgages will go to them as well.
I am assuming that as mortgages are contracted for a certain period the Terms and Conditions re interest, capital payment etc will stay the same.


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 Post subject: Re: money transfer
PostPosted: February 5th, 2016, 4:38 pm 
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi again Baldilox,
I have just for the first time transferred money electronically outside Italy to a German Bank. Barclays confirmed by immediate email that the money had been sent. You of course have to confirm your transfer with the key generating device that we have been given.
Germany is within the Eurozone so hopefully you can send funds to UK despite it being outside the Eurozone.


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 Post subject: Re: money transfer
PostPosted: February 8th, 2016, 11:51 pm 
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Joined: December 2nd, 2009, 3:16 pm
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Location: N Ireland
I have transferred money from my Italian Barclay's account to Bulgaria successfully (although the fees were high).


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 Post subject: Re: money transfer
PostPosted: February 10th, 2016, 9:48 pm 
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Evie,
Were the fees you paid charged by Barclays because it was going outside the Eurozone or from the bank receiving Euros and the foreign exchange rate charged in Bulgaria?
I have heard that banks in UK charge for receiving Euros and then use a Fx rate favourable to them that is lower than the actual rate quoted by Fx Companies.


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 Post subject: Re: money transfer
PostPosted: February 17th, 2016, 5:33 pm 
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Joined: December 2nd, 2009, 3:16 pm
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Location: N Ireland
David, just checked and in fact it was my Spanish bank account I did the transfer to Bulgaria, not Italian Barclays after all. Payment was 400 euros with fee an additonal 40 euros (cheaper to use Moneycorp!) - it was a 'non resident' fee so presumably because it was outside Spain as opposed to Eurozone.


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 Post subject: Re: money transfer
PostPosted: February 18th, 2016, 9:57 pm 
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Hi Evie,
Fees equivalent to 10% of what you transferred, that really is expensive!
You are right, a Fx Company would have been cheaper.


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 Post subject: Re: money transfer
PostPosted: April 5th, 2016, 2:05 pm 
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Joined: February 19th, 2014, 4:00 pm
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Hi All

I am still currently trying to complete on an apartment in Vista Montagna, I work for a foreign Exchange Company, www.ostcfx.com, fully regulated by the FCA and a far cheaper way of transferring money to and from abroad, if anybody has any questions please do not hesitate to ask, Gareth Baxter 07769855622 gareth.baxter@ostcfx.com


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 Post subject: money transfer
PostPosted: November 24th, 2016, 2:05 pm 
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Joined: September 21st, 2016, 7:23 pm
Posts: 19
We had guests from US stay last year. I paid bank charges of around ?25 when their money was lodged to my account and they had to pay something similar to their bank to transfer it. We've just had another request for this year from US guests and I'm not sure what would be best to save both parties money.


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 Post subject: Re: money transfer
PostPosted: November 24th, 2016, 4:14 pm 
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Joined: June 25th, 2008, 6:39 pm
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Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
It depends on how much is required to be transferred. If it's a large amount a Fx Company would give you a better exchange rate than any bank and their transfer charges will be cheaper. If it is not so large go to a money changer and exchange for cash. Coming from the USA, the exchange rate has in the last few months have been good to them to the tune of over 15%.


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 Post subject: Re: money transfer
PostPosted: November 27th, 2016, 6:52 pm 
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Joined: January 20th, 2008, 1:32 pm
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Paypal can be useful for international monies.


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