Receive a bank transfer from abroad, in brief
Whether your birthday is coming up or someone owes you money, understanding how to receive a bank transfer from abroad makes collecting money far easier.
With this straightforward guide to receive a bank transfer from abroad to France, you’ll be able to prepare for any payments properly.
We’ll examine how to receive money
from abroad, how long a transfer takes and what potential fees and delays to expect.
In this guide
The different ways to receive money from abroad
How long does it take to receive money from abroad?
What can impact the amount you receive?
Fees associated with an international transfer
What is the maximum amount you can receive from abroad?
What information do you need to give to the sender?
FAQs and guides
The different ways to receive money
from abroad
Money transfer
You can receive money from abroad 2024 Lebanon Telegram Users Library via a bank transfer directly from the sender’s bank account into yours.
To receive a bank transfer from abroad, you’ll need to provide the sender with your:
Bank details
Full name
Bank account number
Sort code
IBAN/SWIFT codes
These will be on your online banking account
Receive the money in cash
In some cases, you can receive money as cash. All you’ll need to do is visit your local branch or pickup point. You’ll need to take the transaction number and a valid ID to be able to collect the cash. Some providers may also offer home cash delivery for an additional charge if you’d rather have it delivered to your door.
eWallet
Some money transfer services have digital or mobile wallet options. It’s still quite a new service and isn’t as common as other options, but it can be a hugely convenient and straightforward way of receiving a bank transfer from abroad.
Money orders and cheques
One of the most traditional ways of receiving money is by cheque, and some people still prefer this method. Your sender can request a bank draft from their bank or financial institution and then send the cheque to you. You can then deposit it in your bank account.
How long does it take to receive money from abroad?
It can take between one and five days for a bank transfer from abroad to France to clear, but it can depend on which method of transfer your sender uses. In some cases, it can be instantaneous (this is typically the case with cash transfers). Other methods may take longer.
The overall transfer time depends on various
factors, such as the:
Transfer provider
Country of origin
Destination
Currencies involved
Type of transfer
Date and time the sender initiated the transfer (weekday, public holiday, etc).
On more common transfer routes, bank transfers from abroad to France are more likely to be instant. However, for rarer routes, you may have to wait longer.
What can impact the amount you receive
Suppose you receive a payment of €300 from abroad. However, when you check your bank statement, you only see an incoming amount of €250. This may be due to many factors. Before you call your sender or bank, make sure your money transfer hasn’t been impacted by any of the following.
Exchange rate
The foreign exchange rate can significantly impact how much you receive. If you know how much money you’re being sent, you may be able to estimate the amount you’ll receive using the exchange rate. But be aware that some banks apply a markup on the rate you’ll see online and offer a slightly different rate of exchange.
Costs
Some banks charge a fee to receive a bank transfer from abroad to a French account. This is more common when receiving money from abroad because the bank may have to change the currency of the payment.
You may also find some money missing from your payment if your sender has opted to deduct their own costs from the amount they send, rather than paying transfer fees upfront.
The total cost of these charges will depend on the bank you use.
Fees associated with an international transfer
The sender pays most of the fees associated with an international transfer so that the recipient does not have to pay additional costs when receiving the money.
However, you may have to pay some Poland Phone Number Material of the costs associated with receiving funds from abroad. These can include:
Intermediation fees – Most international
money transfers are sent via the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global network of banks for processing international payments. Money transfers move through one or more intermediary banks before reaching your account. These intermediary banks may charge a fee, which the sender can choose to pay upfront or have deducted from the amount sent.
Receiving charges – Money transfer fees and most other charges are normally the sender’s responsibility. However, your bank B To B Database may charge a fee for processing and depositing payments in a foreign currency. They’ll generally deduct the cost from the total amount you receive.
What is the maximum amount you can receive from abroad?
While there’s no real limit on how mu
