Thursday, August 28, 2003

IBAN, if it works it is fast, if not it costs.....

Last weeks I've made some money transfers. One was to the UK which was debited on my account at July 15 and was credited at the beneficiary at July 16. For the cost of 7 euro.

Then one week later I tried to make a payment to Germany. But incidently I was provided with the wrong IBAN. So the payment, including address details of the beneficiary, arrived at the proper bank but was sent back with the information: Name/Number are incorrect. Minus 25 euro for processing cost.