What Are The Restrictions On The Amount Of Money Remittances In EU Countries?

Remittances to foreign relatives or remittances to foreign countries can be made by booking hotel rooms in a variety of ways. These methods are convenient and fast, and some of them are more expensive. We will introduce readers to various remittances to help you choose when needed.

When remitting money abroad, the traditional way can not be used in some cases. For example, if a cheque is made, a pfer (the other party does not have a bank account), other ways must be used.

Credit card payment online

In principle, euro cheque can be sent in the euro area, but other euro countries are not used to paying cheque, so the procedure is complicated and requires a certain fee.

Usually, credit card is paid online. Of course, it is through online security payment system. Just fill in the 16 digit number on the credit card and the last 3 digits of the card's back code.

Bank pfer

If the payee has a bank account abroad, the simplest way is through bank pfer (from your account to the payee's account).

Bank pfer requires INTERNATIONAL BANK ACCOUNT NUMBER (IBAN) to confirm the account of the payee and LE BANK IDENTIFIER CODE (BIC) to confirm the account bank.

If you know these two key messages, remittance is easy and the cost is low.

Since May 1, 2004, the pfer of remittance to 10 EU countries has not been more than 12500 euros, and the cost is the same as domestic pfer.

From January 1, 2006, the bottom line rose to 50000 euros, but it must be the euro, not the other currencies.

If it is other currencies, the bank itself determines the fees charged and adds the remittance fee.

Transfer can not immediately get the money, waiting for 3-5 effective working days.

However, if it is pferred to the countries outside the EU, the cost is determined by the banks themselves. The bank confirmation code BIC and the BASIC BANK ACOUNT NUMBER (BBAN) are required. If there is no such information, the bank may refuse to pfer the funds or help find the information, but it will pay for the information, the credit of Lyon will be 12.9 euros, and the savings bank will be 25 euros.

In addition, the payee often has to pay the local bank charges, which are very different in specific countries. You can ask to pay all the expenses in France, so that the payee will no longer have to pay.

MANDAT POSTAL INTERNATIONAL

The post office international mail exchange is universal, but relatively slow.

This method is a good way to remit cash when bank pfer fails. The post office is the largest network in the world in more than 150 countries.

You only need to go to any post office in France to fill out the international mail pfer order. The mail pfer order will be sent to the local post office you choose. You will be responsible for notifying the payee and telling the payee to confirm the number so as to receive the remittance.

The cost of international mail remittance is different from the countries sent to it, and the time is relatively long. Generally, Europe needs 4 days, and other regions need 10-15 days.

Professional remittance company

The remittance service provided by professional remittance companies such as WESTERN UNION (Western Union), TRAVELEX or MONEYGRAM is fast and convenient, faster than bank pfer and international mail pfer, and it only takes a few minutes to remit to the designated location.

All you have to do is fill in a special form with the remittance business department of the above company, and send the remittance to it and pay the remittance fee.

At the same time, you notify the payee to confirm the number, and the payee takes the number and ID card to withdraw the money without paying any cost.

Of course, the remittance fee is so fast. Generally speaking, the amount of remittance is large and the cost is relatively low, otherwise the amount is small and the relative cost is high.

The cost is the same regardless of which country it is remitted to.

The advantage of Western Union is that it uses the post office of France and its remittance business department to handle remittance business, so the scope is larger than that of TRAVELEX or MONEYGRAM. The latter two only rely on 35 remittance business departments to handle remittance business.

Details can be found on the websites of these three companies: WESTERN UNION's website is www.westernunion.com, TRAVELEX's website is www.travelex.fr, and MONEYGRAM's website is www.moneygram.com.