Bank (IBAN?) transfers as a paypal alternative...?

[enrico chiesa]

Due to some issues with my paypal account (had an account for a year or so a few years back, closed it... have since opened up a new one but they will not let me re-connect my bank account to it, thus I have hit the £1,500 yearly money sending limit just recently), I was wondering how easy/costly using IBAN bank transfers is? A few record sellers/dealers in europe have suggested its easy to use and suits them as doesn't cost for paypal fees (although I gather it would cost the sender a fee regardless??)... and since Paypal customer services cannot remedy my problem for whatever reason, I'm considering using a bank transfer for ebay and non ebay transactions... (unless of course you tell me its not worth it!!)...

My q's are:

Are they safe to use?
What kind of cost should I expect for, say, a £20 transaction as an example?

Thanks in advance...

[reza]

Safe and no chargebacks ever (that does mean that some buyers dont feel protected)
Expensive for purchases to outside the UK, as I remember £10 ish on any transaction of any cost , someone correct me if I'm wrong
Great as a seller apart from non UK payments take 3-5 days to appear in your A/C

[ladyboygrimsby]

They're way more expensive than PayPal for lower value transactions and that's saying something with all the bloody PayPal charges. I've used it quite a lot to make royalty payments and suchlike and, from memory, it's around £20.

[Carlitos]

If I remember right, last time someone send me money using it, my bank charged me £9 to receive it... and the seller's bank also charged them for sending. It takes some time to receive it (3 to 5 days) but the money will be straight into your account after that time. Paypal is the perfect payment method for a buyer, IBAN will be the perfect payment method for a seller. If the payment is between British banks there won't be any fees.

[reza]

Yes its fine for record sellers/dealers in europe but we have a different currency so you get a currency exchange transaction as well
Sending money using IBAN/BIC within the UK incurs no charge the same for the Europeans, we're foreigners
Not a viable alternative

[enrico chiesa]

Bah!

Thanks for the advice anyway... paypal will reset my spending limit in November, what a pain... I have 300+ positive feedbacks on ebay, no problems but they just cannot get their head around the fact I have a new paypal account and want to link my bank account to it?!?!

I'm beginning to think my wife has called them and asked them to stop me buying records... could be a blessing in disguise for a few months I suppose...

[reza]

Try opening another ebay a/c , link your paypal a/c to that one and try adding bank again, you'll soon build some feedback again, keep the original one with the 300+ for selling only
Alt open a completely new paypal a/c to go with your new ebay a/c , use another bank a/c , your wife's ?
Its all quite legal and ok , ebay allows you to have two IDs with same paypal so that people can diversify their selling/buying practises

[mp3000]

I got a 2 euro charge for a 55 euro payment the other day which is a bit better than paypal. Not sure how refunds are handled.

[emperor tomato ketchup]

I got a 2 euro charge for a 55 euro payment the other day which is a bit better than paypal. Not sure how refunds are handled.

Basically they're not. You send the moeny, its sent. If you want it backl it depends on the seller sending it to you. This may be why some sellers like it. As someone said ideal for sellers in the way paypal is ideal for buyers.

I use it a fair bit as I can do it for free with da eurozone banks. Never had a problem.

[manzo]

I think that it's down to your bank as to how much it charges. I've just been sent some cash via an IBAN transfer from Germany and he didn't get charged for it.

[Teessider]

I think that it's down to your bank as to how much it charges. I've just been sent some cash via an IBAN transfer from Germany and he didn't get charged for it.

I send money twice a year from my UK Barclays account to my Norwegian account, using an IBAN transfer.

Barclays charge a flat fee of £25 for doing it.

[nosoul]

i used to send cash by iban i thought it was always a flat fee of £27 aint used it for a couple of years tho??