I mentioned recently that I had to pay a fortune in fees to transfer money to Switzerland.
Today, I sent a message to the bank (I was going to say “sent an email” but I used the web form on the online banking site instead) asking for the details of the charges.
And just now, I received an answer. Not only did they explain how the charges are split up but also how two of them were calculated (“x ‰ of the amount, minimum of y euros”).
So, the charges are still annoyingly high for small transfers, but at least now I know more.
However, that’s not all: the lady answering my request also said she’d refund me the charges (€39.05) this time but that I should be aware of those charges in the future. (She even volunteered the fact that, since Switzerland is not part of the EU, there is no cheaper alternative I could have used.)
So, that’s decent service, I think!
For the curious, the costs split up like this:
|€ 8.89||amount sent, at an exchange rate of 1.4629|
|€ 10.00||charge for “voucherless” (? beleglos; maybe “paperless”?) orders (1.5 ‰, at least 10 euros)|
|€ 1.55||SWIFT charges|
|€ 2.50||commission for currency sales/purchases (0.25 ‰, at least 2.50 euros)|
|€ 25.00||flat-rate charge for foreign bank fees|
So the biggie was the charge for foreign bank fees—I had chosen “sender pays all fees” but had assumed that I’d only pay actual costs incurred rather than a lump sum.