Banks - in particuular HSBC

I've started doing a bit of business in Europe - first commission
cheque duly arrives in Euros and paid into my sterling business account
three weeks ago. They couldn't give me a spot exchange rate or how much
the fee was going to be. I didn't think to ask how long it would take
to clear as other stuff I have paid in before has taken no longer than
a week.

Matey boy from HSBC Delhi call centre calls me up at 8.00am full of
the joys this morning saying my account has gone overdrawn and goes to
great trouble to list all the possible charges and is on complete
transmit. Which is shame as I don't really do mornings or fuckwits. He
managed to completely wind me up in short order and was given the usual
advice regarding sex, travel and necesssary speed.

Tried to phone the bank. Because I can't remember my bank (let alone
ever getting one) 'security' number they can't put the call through or
get anyone to call back. Very helpful.

Go to the bank to try and see an 'advisor' only to be told "It would be
easier if you telephoned for an appontment . . . . ."

I eventually glean the fact it may take 8 weeks to clear a Euro check.

Wonderful service.

Anyone here deal regularly with smallish payments from Europe?

 

Not anymore but up until last June, I was EKS through an agency in Rep
of Ireland so got paid in Euros.

Both my personal & business accounts were with HSBC and I set up a Euro
current account which was simple enough to do and manage although there
was no online access.

I did have a few issues with HSBC Customer Service while closing the
Euro the account and have since moved my personal current account to
another bank as a point of order.

I've had enough of dealing with fuckwits and/or getting generally crap
customer service so as well as my current account I am changing gas &
electricity suppliers and have recently moved both my house insurance
and car insurance. I expect I'll move the bike insurance as it's due
next month.

 

Buzby wrote:

I've been sent payment in Euros before, both cash and cheque, but not on a
regular basis. They took about two weeks to show in my account. I can't
recall any charges being applied and they were exchanged at the banks
exchange rate on roughly the day they hit the clearing thingy.

So, with the Co-Operative bank, things just happen, albeit a bit slowly.

Sorry I don't have a tale of woe to tell, merely one of satisfaction, and
they have their call centre in the UK.

All in all, I'd either set up a Euro account, or switch banks in your
situation.

From personal experience, I'd recommend Smile ( part of the Co-Op banking )

 

<snip of business accounts with hsbc>


In my experience, not a good combination. On the personal banking front,
never had a problem. Business banking on the other hand is inconsistent
(the different departments seem to have different instructions regarding
what kind of transaction may be made by phone) and time-consuimg (still
can easily take 20 minutes to make a foreign currency payment by phone
even when the previous transaction to the same payee is held as a
"template".

I also used to business bank with NatWest who couldn't have been easier
to deal with.

 

Aye, from Cloggy Amro bank to the UK. Takes two or three days, with the
necessary Euro to GBP conversion.
No problems here.

 

Buzby wrote:

Paypal works fine for me. International Postal Orders are great too -
cashable in any PO. But I think they're quite expensive to send.

 

Any Cloggy bank will be better than a British one for Euros.

With a well trained assistant manager I had good service with Barclays
commercial Euro/foreign accounts.

 

TOG@toil, , wibbled:

Absolutely agree, however when I say small payments, it's more than the
amounts those services were intended for, but piddly in international
banking terms.

 

I don't know what the upper limit for Paypal payments is. Why don't you
find out? If it's higher than the sums you're talking about, it would be
the ideal solution.

 

I don't believe there *is* one. I think all that happens is that they ask
for proof of ID if you have reviewed over a certain amount cumulatively.

Ali

 

Word of warning - paypal has *atrocious* exchange rates so the OP needs to
work out if this is going to be a problem. Plus, it takes at least a week
to get the money from the Paypal account to your bank account.

 

Ver' ver' bad idea, but I guess you figured this out by now. *Do* get a Euro
business account and get the people at the other end to transfer the money
in instead of sending a cheque. Yes, that'll cost as well but at least when
the dosh is there, it's there.

You can even have them do this into your regular business account if they
convince their bank that the money should arrive in pounds and not Euros.

 

Timo Geusch wibbled:

Fully aware of that - also it's not really an option as it's a large
French company who I suspect aren't really into PP and POs - I'll talk
to them next week to see what my options are.

I suppose it may be worth opening an account over there - I suppose
there's the usual crap over there too.

 

Timo Geusch wibbled:

Is, I suspect, the correct answer.

 

French bank charges are appalling - worse than British ones.

I remember sending as hotel an International Money Order (in francs, as
then was) for a deposit.

When I got there, they'd not cashed it, but returned it to me,
explaining that the charge for paying it in was the equivalent of £25.

I paid them via CC, and got my money back from Barclays.

 

The Older Gentleman wibbled:

No hope then.

I could be wrong, but it's possibly going to be interesting to see the
'delay' in the time money left the account in France to when it hits
mine.

 

Grrr. We've done this thread before. I took a bath on the above when
they converted Euros to sterling without asking me. They just assumed
(wrongly) that my UK bank account was sterling, not euro's.

P.