I sent money from a GBP account to my GBP Iban in Revolut and I was charged £15 without any warning. Support on the chat says it’s my bank, my bank says in their official confirmation that it is the correspondent fee
If I understood correctly, your bank told you this is a normal fee from them that applies to the transfer you made?
If that’s the case, there’s nothing can do
No my bank said it’s the correspondent fee. That means you or an intermediary like Lloyds. I don’t know how to avoid this charge.
Try sending EUR from Luxembourg to your Revolut EUR account (both within the SEPA) then convert to GBP within the app. This shouldn’t involve a fee from your bank.
Wish I was any kind of bank
But I would have to convert gbp to eur with my bank. I want to send GBP not eur
My advice still stands on the information you’ve given. Transfer to Revolut in EUR via IBAN and do the conversion there ending up with GBP in your wallet. You end up transferring (effectively) GBP. Try with 5 EUR to see how simple it is?
I think you don’t understand that at the starting point I have gbp on my account
This sounds like a SWIFT transfer! This means that your bank (and/or an intermediary bank) could charge you an international transfer fee.
Where was the GBP 15 charged? Was it debited from your Luxembourg GBP account or from the amount received in your Revolut account? If your Luxembourg bank charged it in addition to the transaction, and you chose that each party pays their own fees, then you have a legitimate complaint against your Luxembourg bank.
I generally find it’s best to choose “OUR” as the payment type when making a SWIFT payment. This seems to prevent the majority of intermediate bank skimming fees. The recipient will get the amount you request with no deduction, but you pay any charges at your end. In my experience of making SWIFT payments in GBP, whenever I sent the payment with “SHA” fee type, some intermediate bank would skim some of the money off (just because they could), and when I queried it with my sending bank, they would blame the receiving end, and when I queried it at the receiving end they would blame the sending end. On the other hand, when I use “OUR”, I’ve only ever been charged the advertised fee by my sending bank (Citibank). Your results may vary, but this is my experience.
yes they are blaming each other or mentioning an “intermediary” but I have no way to know where the fee is gone.
Yes, it’s useless trying to get anyone to own up. SWIFT is a bit of a scam – intermediate banks are allowed to deduct any fee they see fit for the “effort” of being the correspondent bank, and you can’t do anything about it. It’s completely non-transparent, and needs to be cleaned up or disrupted out of existence… As I said, in my experience, setting “OUR” type reduces or eliminates intermediate skimming, though you might (or might not) pay a higher fee at your end.
was there an alternative to Swift to make a crossborder GBP payment ? there was OUR set so I received the amount I asked but I was debited 15GBP more than what I asked.