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Nairaland Forum / Nairaland / General / Business / Bank Commission On Foreign Transfer (1151 Views)
Worry Less About Gtbank Restriction On Foreign Transactions / Does It Mean Naira Debit Cards No Longer Work On Foreign Sites? (2) (3) (4)
Bank Commission On Foreign Transfer by felifeli: 9:53am On May 25, 2016 |
Please if I want to transfer $120 abroad, how much can I hope to pay bank for doing the transfer ? |
Re: Bank Commission On Foreign Transfer by shocker007(m): 10:08am On May 25, 2016 |
felifeli: Aside 0.5% rate, you also get charged $25 flat swift fee. That's UBA, and I think many other banks do same. Why not use other means for your transfer? Paypal e.t.c |
Re: Bank Commission On Foreign Transfer by felifeli: 10:13am On May 25, 2016 |
shocker007: Which means I will have to move money into my Paypal account . How? Same as transfer isn't it ? |
Re: Bank Commission On Foreign Transfer by shocker007(m): 10:17am On May 25, 2016 |
felifeli: No, you don't incur any other charges other than the amount sent. However, for the receivers end, he/she incur charges depending on the paypal country. But for UK, no charges. Let me know the country you sending to so as to advice you better. |
Re: Bank Commission On Foreign Transfer by felifeli: 10:26am On May 25, 2016 |
shocker007:I get what you mean. But if I don't have money in my Paypal account and need to move money into it from Nigeria, the process demands that I also pay bank charges and transfer fees isn't it ? OK if I am using my visa card how much will be deducted from my account for a $200 payment ? I want to know before I get nasty surprises. |
Re: Bank Commission On Foreign Transfer by shocker007(m): 10:38am On May 25, 2016 |
felifeli: Depends on the Bank and the type of account you've got. You only get to pay $200 equivalent in Naira and nothing more. But for dorm account, Bank like UBA will charge you 2% but not for other banks I know of |
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