Halifax Bank in the UK - Money Transfers

In the UK, the Halifax Bank are now are offering international money transfers "online". You have to have a "current type" bank account with them. The charge is ┬г9.50 per transaction.

So what, one may ask. Well, I don't know any banks in the UK that offer international online money transfers from a UK bank account to a foreign bank account "online". Generally, it is very cumbersome sending money overseas, i.e. via phone, visiting a branch, and also expensive. I think some of the banks charge as much as ┬г25.00 per transaction and even more, and can take a long time to get to your destination.

I noticed Halifax takes between 1-2 days.

I don't know the ins and outs of it, I don't know even if the currency rates they offer are competitive or not, nor do I know the minimum and maximum, but Halifax are a fairly reputable bank in the UK and doing it online from your bank account is a major for me. As far as I am aware, its one of the only reputable banks that offer this service literally at the click of a button online, but you do need a Halifax bank account.

Thought I would share this info with you.

Thanks for the info.

However I am surprised to hear that there any "reputable" banks remaining in the UK!

Yeah, I know what you mean lol, mind you, it could be worse, it could be RBS!

Halifax is only a badge on the door. Following the near failure of Halifax Bank of Scotland, it was bailed out by the government & Lloyds TSB & is part of the LloydsTSBCheltenham&GloucesterHalifaxBirminghamMid shiresMidlands&WestCountryBankofScotland. No doubt I have missed a few. Over 50% of this is owned by the government & they have something like 33% of the UK retail banking market. Hopefully the next government will break this into 2 or 3 pieces so we have some competition before eventually privatising it.

No doubt all our UK readers know this & the overseas ones don't give a monkeys.

Quote:

---

Originally Posted by z909

No doubt all our UK readers know this & the overseas ones don't give a monkeys.

---

Too right, z909. I think maybe by "reputable", WhiteDesire means already owned by the Government.

How can there be disreputable Banks in a country with a banking ombudsman and where deposits in any bank group are guaranteed by the tax payer up to ┬г50,000, unless you subscribe to the thesis that all banks are disreputable; which is not an unreasonable stance. Whitedesire should really put ┬г50,000 in each of the banking groups and each year select the one with the lowest transfer charges for an annual transfer.

Of course if he wants to earn interest on his deposits, that'll be a harder decision.

Quote:

---

Originally Posted by WhiteDesire

the only reputable banks that offer this service literally at the click of a button online.

---

You mean the Brits are finally catching up with the rest of the world. Citibank and Chase here in the US have offered this service for years now. I'd bet Citibank in the UK probably has the same service.