Hello everyone. I live in UK and there was a money transfer from my sister to me through Credit Suisse(my sister's bank) to Llloyds bank(my bank).

The problem is that the payment was made on Thursday and I still havent received anything.

Does anyone know how long it usually takes? I was told it usually takes only 1 working day so I'm starting to worry.

Maybe this (http://prntscr.com/ch9n92)has something to do with the problem? It says fees paid by division of charges so maybe the fact that the balance on my account is zero doesn't let the transaction to be completed?

I tried asking Lloyds but they told me they can't tell me anything about an incoming international payment. If anyone knows anything about the matter, please let me know. Thanks in advance

Sharing cost is normal. They will deduct the cost from the amount credited on your account.

Why it takes so long? No idea. Did you send CHF to a GBP account? Currency conversion can take 2 days

Hi there

I regularly send money from my private account here to my Lloyds account in UK.

It usually takes 3 or 4 days. If the transaction is done on, say a Thursday, it probably won't be in until Tuesday. I think the quickest ever was 2 days.

The "faster payment system" we are now used to in the UK does not work for cross border transactions, unfortunately.

As mentioned by the other poster, all sharing fees means is you get less cash than sent. For example, if 1,000 is sent, your sender pays say 10chf and you pay 10chf - so 1010chf leaves their account and the sterling eqivalent of 990chf arrives in yours.

(Might not be that much. I think postfinance charge me 2chf for a 1k transaction. Plus exhange rate spread, of course).

Regards


Ian

With First Direct, I've always found that CH->UK takes 3 working days, and UK->CH takes one working day (I recently initiated a transfer on Friday at 18:00 UK time, and it arrived in my CH account on Monday).

3-4 days sounds about right to me.
Given that it was sent on Thursday I would expect it to be in your UK account today.

Τhanks to everyone who replied. Still waiting for the transfer to be completed

At least now I know that the fee will be deducted from the transferred amount so it's not a problem if my account's balance is nil.

Still nothing and I'm starting to get angry with Lloyds because I really need that money. It's been one week now since Thursday when my sister made the payment.

When she asks Credit Suisse they say they have completed their part and it's up to Lloyds. When I ask Lloyds they say they can't give me any information about incoming international payments. Anyone has any idea what else I could do to check on it?

Go down to your local branch, with ID and whatever proof of the transfer date you have, and politely and firmly request that someone there makes an enquiry on your behalf.

Credit Suisse should send out a tracer to your payment. She should tell them that the beneficiary claims non receipt of funds and that they should send out the according Swift messages to see where the funds are.

Check these guys out https://transferwise.com/ch/

Life is too short to reward already wealthy bankers for crap service.

Your guys aren't exactly the cheapest either

Wow! Are you a troll?

I'm just stating a fact. They aren't the only and aren't the cheapest provider of fx services. Your initial post sounded like "bankers are ripping you off, these guys don't", with which I disagree.

And you, judging by your reaction, must be on their payroll or something?

Instead of bank transfer, I started using transferwise and really happy with their services. Try it out with a small amount and you will love it. They are totally transparent.

Ivank,
My comment was because you came in off topic, the discussion was not about rates but about the time it takes to complete a transfer.

My experience with the company I mentioned is that in every case the money was delivered not later than the next business day. My experience with the high street banks, in both countries, is that I never received the money in less than two business days, often more.

I agree that they don't always have the best rates but this is due to their business model. But they often do have very good rates and one would be a fool to not look around for the best service and rates for your needs.