bloglike:2020-11
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bloglike:2020-11 [2020/11/18 06:06] – created stybla | bloglike:2020-11 [2020/11/18 09:22] (current) – update story about banking stybla | ||
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Fist option is to transfer money in the same way as you'd transfer domestic currency and that's totally fine. The only problem here is that foreign currency will be converted to domestic currency and you're given an estimate of that conversion. But the other account is in the same foreign currency and I want either precise or close enough amount on receiving side. In other words, you don't know(I don't) how much money you will end up with at the other account due to conversion from foreign currency to domestic and then another conversion from domestic currency to foreign. | Fist option is to transfer money in the same way as you'd transfer domestic currency and that's totally fine. The only problem here is that foreign currency will be converted to domestic currency and you're given an estimate of that conversion. But the other account is in the same foreign currency and I want either precise or close enough amount on receiving side. In other words, you don't know(I don't) how much money you will end up with at the other account due to conversion from foreign currency to domestic and then another conversion from domestic currency to foreign. | ||
- | Second option is to transfer money like you'd to another country. This actually is suggested option by the bank itself for this, my, specific case. And rightly so. What seemed like a good idea turned out as not one of those. Why? Because despite this isn't international transfer(after all, bank accounts are in the same country), it's still international transfer and as a such standard fees for international transfers apply. Fee for international transfer is(in this particular case and bank institution) either 250 CZK(roughly 11 USD at the time of writing) or 1% from the transferred amount. This is ok-ish for larger sums of money, but not for pennies. Sadly, SEPA doesn' | + | Second option is to transfer money like you'd to another country. This actually is suggested option by the bank itself for this, my, specific case. And rightly so. What seemed like a good idea turned out as not one of those. Why? Because despite this isn't international transfer(after all, bank accounts are in the same country), it's still international transfer and as a such standard fees for international transfers apply. Fee for international transfer is(in this particular case and bank institution) either 250 CZK(roughly 11 USD at the time of writing) or 1% from the transferred amount. |
To sum this up at least a bit. SEPA is only for transfers in EUR, not a flat-rate " | To sum this up at least a bit. SEPA is only for transfers in EUR, not a flat-rate " |
bloglike/2020-11.1605701187.txt.gz · Last modified: 2020/11/18 06:06 by stybla