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Inconsistent bank Fees when transferring funds

Posted by Sydneysider-189602 - Created: 16 years ago
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9 replies (Showing replies: 1 to 9)

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Posted by apu - 16 years ago


i was with the socgen after various bout of being robbed by the bank I moved to banque directe (now axa banque)...the service from axa banque is the best i have seen...

the only problem is that they are weak on home loans...as they are a small

for home purchase loans, Credit Agricole will beat any offer you have buy far...

I got the following:

1) 3.80% on a 10 year loan.

2) No IRA - all banks make you pay a 3 % fee is you payback your mortage earlier then you had planned

3) Flexible repayment plan without a change of interest rate

4) I could get the life insurance for the mortage with whomever I wanted..I went with Zurich...

If you want British level of service move to AXA Banque....






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Posted by Rouretan - 16 years ago


Of course I am European, it comes with being English..

But seriously old chap: the euro is a wonderful thing, but even I, an avowed YES man when the vote comes, would be the first to admit that it isn't working for the consumer at the moment, but, and this is the big but.. it will in time. :-)

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Posted by MikeP-180526 - 16 years ago


As you are the avowed expert on, and lover of, all things related to the integration of Europe so that it becomes a bland and borderless superstate,  I would have expected you to know about the directive I mentioned in my posting above which means that banks should NOT be charging for Euro transfers.

As you probably know more about this than I do,  perhaps you could dig out details and post it here so that people can prevent their banks from ripping them off.


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Posted by Rouretan - 16 years ago

Yep, Banque Directe (now AXA Banque) is efficient and among the cheapest, and even cheaper with a similar approach is egg.

But they all have this policy of charging inbound and outbound for transfers even within the euro-zone: ie if someone sends you €10 from an Irish bank you will get about nothing!

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Posted by MikeP-180526 - 16 years ago

The following is not directly relevant to the issue of transfers to Australia, the original topic, but it may be useful regarding transfers within the Eurozone.

In theory, transfers Euro -> Euro are free, even across borders. However, a concealed clause allows the banks at both ends to charge fees unless the customer provides the IBAN number and the Bank Identification Code for both the origin and the destination accounts. The IBAN number is printed on most RIBs and takes the format


The FR is the country code. I am note sure what the 76 is. The BBBBB is the 'Banque', the GGGGG is the 'guichet' (branch code), and the 13 A's are the account number.

The Bank Identification code is 7 letters and a numeric.

My banking history in this country started off with the BNP who were inefficient, expensive, rude and arrogant. However their technology at the time was the best.

I then changed to Societe Generale after a particularly unpleasant incident with the manager of my BNP branch, who lied to me about the charges for a particular transaction, telling me it would cost 'about 40 Francs' which turned out to be Fr 220. That was to negotiate a cheque on my French account, which was drawn in Pesetas. The final straw was when they later paid a debit order which I'd cancelled three months before, and then when I went into the branch to pick up a document, he clicked his fingers at me, in the manner that one might do to a dog, and 'summonsed' me to his cubicle and told me that I owed the bank money - the money they'd inadvertently paid out. He then asked me when I refused to pay, how I proposed that the bank should get the money back, and was quite shocked when I told him it was their problem not mine (he he, I'd closed my account by that time).

Societe Generale turned out to have much friendlier staff, and be more customer orientated, but had even higher charges. Also, because the staff were friendly, the branch was always busy and the telephone service was 'nul' as the local yokels say. I closed my account with them after they lied to me about leaving a message on my voicemail regarding an important transaction they'd screwed up but didn't advise me about.

I then changed to Banque Directe on the basis that, as a friend of mine from Holland says, if you're going to get rubbish, you may as well get the cheapest rubbish going. As it turns out, they are the cheapest but they are far from rubbish - they are very good, and head and shoulders above other banks in France.

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Posted by Ghene - 16 years ago

Other options in sending money is through paypal (paypal.com) they charge 1.50$ i think and western union (for a 100€ send they charge 11€ :-(.snowtiger

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Posted by bkboss-189534 - 16 years ago

I also bank with Societe Generale but have found them to be very helpful. My branch is willing to negotiate their charges (unheard of in the UK) and I get a personal service whenever I go in. Try telling them that their charges are unacceptable and if they cannot lower them you will go elsewhere (they don't like losing business).

Good luck

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Posted by carrington-181725 - 16 years ago

French banks really take the mickey as far as fee's go..Not only do they charge you to send the dosh off but your also hit when you recieve it.I believe Soc Gen charge a percentage as well as the fee,ie the more you send the more you get lumbered with.Personally i just let it all pile up and deposit the lot in person next time i hit Switz,as the trip and all expenses pays for itself with still more than enough leftover.

If that ain't an option for you,perhaps you can send a cheque to Oz? May take a while to clear but at least your not getting screwed by the natives? Another option may be to open account in San Remo or Ventigmillia as i hear the banks there are more customer friendly and you don't need a dna sample from your grandmother or a letter from your dad to open an account either..If anyone knows of any other economical ways of sending cash electronically,please post as i for one would be most interested to compare experiences.

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Posted by szozu - 16 years ago

The only thing I have to say on this is that for large amounts of money, I have been happy with XE Trade, who give better FOREX rates than the banks and charge lower fees. http://www.xe.com

They were also very helpful when the notaire "couldn't find" the funds and quickly faxed documentation directly to the notaire.