GBP to Bitstamp

[miztaziggy]

I read that a SEPA transfer should be free of charge within the EU.

Just checked on my online banking with Halifax and it says the charge is £9.50.

Also, it gives me the option of transferring it in either GBP or Euro. Anyone have any experience of this and know which to use?

[baddogshuck]

Banks are allowed to charge for Euro transfers within the SEPA area as long as the charge is the same for domestic and SEPA transactions.  As the UK doesn't use the Euro, our banks can have a zero fee for domestic transactions and another for Euro transactions.  However, you should find it cheaper than the alternative SWIFT transfer (my banks fee for SEPA transfer is half the cost of SWIFT)

If the Halifax sends in it euros, they will do the conversion before sending the money.  If they send it in GBP, the receiving party will convert it.  The choice depends on which gives the best exchange rate.  If it was me, I'd send in euros unless the receiving party is happy to get GBP and won't charge for converting them.

[miztaziggy]

Banks are allowed to charge for Euro transfers within the SEPA area as long as the charge is the same for domestic and SEPA transactions.  As the UK doesn't use the Euro, our banks can have a zero fee for domestic transactions and another for Euro transactions.  However, you should find it cheaper than the alternative SWIFT transfer (my banks fee for SEPA transfer is half the cost of SWIFT)

If the Halifax sends in it euros, they will do the conversion before sending the money.  If they send it in GBP, the receiving party will convert it.  The choice depends on which gives the best exchange rate.  If it was me, I'd send in euros unless the receiving party is happy to get GBP and won't charge for converting them.

Thanks for that, clears it up somewhat