Looking to send money across borders? Knowing how Barclays handles international transfers is key. This guide will walk you through using Barclays for sending money, from online to in-person. You’ll learn about fees, rates, and the process to make smart choices.
Barclays has several ways to send money abroad. Whether it’s for family or business, understanding fees and rates is essential. This includes Barclays international wire transfers.
For instance, Barclays doesn’t charge for SEPA payments in euros. But, in-branch payments cost £25. This shows online is cheaper but branches have their own benefits.
Barclays lets you send up to £50,000 daily online from personal accounts. Premier customers can send £100,000. A £1,000 transfer to Germany shows Barclays’ rates compared to Wise, affecting the final amount.
Need help? Barclays offers support on social media, Apple Business Chat, and more. Comparing Barclays with Wise helps you choose the best for your needs.
Understanding Barclays International Transfer Fees
When looking at Barclays transfer fees, it’s key to know the different costs for international money moves. Barclays charges fees based on the transfer type and method. For example, SEPA payments in the eurozone are free. But, online transfers to non-SEPA countries might cost up to GBP 25 if done in-branch.
Another thing to think about is Barclays’ currency exchange rates. These rates often include markups that increase the total cost of transfers. Even if Barclays doesn’t charge a direct fee, other costs can add up. This includes exchange rate markups and fees from intermediary banks.
Barclays also has different fee plans for different accounts and services. For example:
- Quarterly maintenance fee for International Business Tariff Account: £40.00
- Per debit charges for International Business Tariff Account (automated entry): £0.45
- Quarterly maintenance fee for International Corporate Tariff Account: £40.00
- Per credit charges for International Corporate Tariff Account (paid in manually): £0.87
- Quarterly maintenance fee for Currency accounts: Free
- Inward international payments received charge: £6
| Payment Type | Fee |
|---|---|
| UK Faster Payments (up to £100,000) | Free for Community Account |
| Urgent Same Day CHAPS Payment | £20 |
| Debit Card Payments (Barclays ATM withdrawal) | £0.45 |
| Non-Sterling Transaction Fee (debit card abroad) | 2.75% |
| Notices & Acknowledgements (Security Interest Agreements) | £2,500 per agreement |
| Cheque Negotiation/Deferred Credit | £4 to 0.25% of value or £9 minimum to £60 maximum |
| Audit Letter | £30 plus VAT |
The table shows that international wire fees can change a lot. It depends on the specific situation and the banks involved. So, to avoid extra costs, it’s important to look at all fees. This includes exchange rate markups and fees from other banks.
Guide to Sending Money Abroad with Barclays
Sending money abroad with Barclays is easy and fast. It meets many needs. You can send money online, through the app, or at a branch. Knowing how to do this is key.
First, log into your online banking. Go to the International Payment section. You’ll need to enter the recipient’s details, like their bank info (IBAN and SWIFT/BIC codes).
- Transfer Limits: Barclays lets you send up to £50,000 daily online for personal customers. Premier customers can send up to £100,000.
- Delivery Times: Most payments in Europe arrive the next business day if you send before 3 pm.
Be aware of fees and extra charges from other banks. For example, SEPA payments online are free. But, non-SEPA payments cost £25. Also, payments over £100 have a £6 receiving fee. Knowing this helps save money.
Comparing costs of international money transfers shows:
| Provider | Cost (£) | Delivery Time |
|---|---|---|
| Barclays | £125.59 | Next day if arranged by 3 pm |
| Wise | £14.88 | 80% of payments arrive in 24 hours |
| Western Union | £35.52 | Up to 2 days |
| OFX | £46.27 | 1-2 business days |
The guide on international transfers says Barclays supports sending money to over 200 countries. It’s safe and secure, making it a great choice.
Barclays also has great customer support. For more info, see our comprehensive guide. It helps find cheaper ways to send money.
Maximizing Value: Alternatives to Barclays for International Transfers
While Barclays is good for international transfers, looking at alternatives to Barclays can find cheaper options. Services like Wise, TransferGo, and OFX offer better fees and rates. Wise, for example, gives you the mid-market exchange rate, saving you money compared to banks.
TransferGo and OFX are also great for saving money. TransferGo gives fast delivery and clear prices. OFX has lower fees for big transfers, from 0.4% to 1%. Wise Business has low fees of 0.43% for currency changes and no ongoing fees, making it a good choice for saving money on transfers.
Monito, a top money transfer comparison service, shows over 7 million comparisons each year. The average fee is about 0.59%. This highlights the need to look for better deals. By exploring different options, you can get the best value for your international transfers.
