Hi all,

When I try to transfer from my UBS to my royal bank of Scotland account back home the SWIFT number comes up as invalid so I get charged extra for the transfer.

Anybody had this happen to them or know what to do I copied the SWIFT number directly from my bank statement so it can't be wrong

Hi, I have a one account with RBS, I use the IBAN not the swift.

I also have a UBS account

Do you not need to use the IBAN and the SWIFT?

Do both not have a * beside them? I don't have the logging in thing at the moment so I can't go and double check this just now.

IIRC, you should be able to discern the BIC( == SWIFT) code within
the IBAN.

Therefore, watch out for confusion/transposition between letter "Oh"
and digit "Zero", possibly also letter "Ell" and digit "One".

As someone else said, IBAN should be sufficient in UBS ebanking, try
entering IBAN only, and have BIC extracted automatically from IBAN.

Hope this helps.
.

Yes, they are mandatory, however, the swift number is created from the information that you enter re:

iban
sort code
etc

I goto Payment > Payment Abroad > enter IBAN > Lookup Bank > Then when I return the Swift code is there.

Unless I'm going mad. I will log in tomorrow and let you know. I've lost that stupid calculator thingy.........

Ah right thanks guys. I will check when I get home. What kind of exchange rates do you get like this though. I think it's the UBS sell rate?

Is this better or is it better to change the money over the counter and deposit the money myself when I'm back in Scotland?

Considering it's small amounts it's probably 6 and half a dozen to be honest.

Im also a customer of both UBS and the "Royal Bankdits of Scotland", and send money each month.

If you have internet banking with UBS, you can search for te BIC number, simply by typing the name of the town, where your branch is located.

Doc.

What kind of rates do you get? How long does it typically take?

Last month when I sent money, the rate was 1.697240

- make sure you tick "Alle kosten zu lasten der Auftraggeber", as UBS is significantly cheaper than RBOS. RBoS charged me 35 pounds, when my Parents sent money to me in Scotland a few years ago.

Its instant.

The real rate at the time was 1.69 and I got 1.65, so naff all difference, much better than you would get at the cashiers.

UBS charges me 5CHF and RBS charge me a tenner I think.

Spiffing. It seems to have worked this time. Not sure why the SWIFT kept coming up as an error on Sunday. Got 1.68 rate and did the payment abroad extra whcih is just a 10CHF charge. Come out of my account here but not into the RBS account yet though

Are you sure it wasn't the other way round? If you were transferring CHF to sterling, it wouldn't make sense for them to give you a better than advertised rate.

Eg You transfer CHF100 at 1.69 = £59.17 at 1.65 it would be £60.61.

The first rule of banking is the customer never wins

Obviously if you were buying CHF they would offer you the lower rate, so it would cost you more £ to buy CHF100.

I think he means the over the counter sell rate was 1.69 and he got 1.65 which is a good bit of saving IMO.

That was my understanding of it anyway.

You can try with BIC RBOSGB2L

If that does not work, you can look the BIC up here: http://www.swift.com/bsl/freequery.do

It's sorted it worked today. It came up as invalid on Sunday. Don't know why.