Thanks Jochen,
This is what I have done - I got my IBAN number from my bank, and the
customer is lodging the funds to it.
I still cannot belive the Eurocheques though, a perfectly good system than
the banks have ruined.
Thanks,
Darren Branagh,
Bank of Ireland - Cards And Loans Business,
Nassau House, 33/35 Nassau Street, Dublin 2. Ireland.
Tel: 01-6798230 Fax: 01-6706813.
BOI Group Data Classification -
SMSQ - Jochen
Merz To: [EMAIL PROTECTED]
<[EMAIL PROTECTED]> cc:
Sent by: Subject: Re: [ql-users] Eurocheques
[EMAIL PROTECTED]
g.uk
23/10/2003 11:22
Please respond
to ql-users
Hi Darren,
Eurocheques DID work in the past - the receiver paid nothing,
the "sender" 1.75% of the cheque's value. This is how the rule
was and this is how it worked in Germany.
Then a few countries decided to drop out (like the UK) and this
is when Roy and I started to have problems with these cheques.
Step by step, all banks dropped out because they did not make
enough money from this and it was a method too cheap and easy
to pay private individuals in different currencies, especially
during holidays.
With the introduction of the EUR, the banks DOUBLED the charge
for getting cash out of the wall (of course, we all benefit, huhuuu)...
and got rid of the Eurocheques everywhere, so there is no choice.
Eurocheques do not exist anymore, so they are treated like
"ordinary" cheques ... and the fee for ordinary cheques are
extraordinary. I would call them "Go-away" charge.
Postbank has raised the prices for cashing foreign cheques
by a factor of 10!!!!
Just like Roy says, banks make sure they get their share.
Whoever believed that they would not find ways to compensate
the loss of the money they made with currency-exchange must
have been extremely naive.
BUT - money transfers between EURO countries is fairly
cheap now. Customers need to specifiy IBAN and BIC and
then it should not cost more than a national transfer.
HOWEVER: If they miss one of the numbers, both you and the
customers pay :-(((
Cheers Jochen
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