Say Person 1 has a French bank account, and Person 2 has a U.S. bank account. Person 1 wants to send funds to Person 2. Person 1 can add a new person to their list of beneficiaries, but the French bank's website requires IBAN and BIC numbers, which are not numbers that the U.S. account has.

enter image description here

How can this transfer happen?


Person 1 may walk into his bank and fill out a form for SWIFT payment.

  • Thanks @base64 but how about through the internet? Aug 30 '15 at 5:41
  • Person 1 may switch to a bank that has international exposure. e.g. HSBC
    – base64
    Aug 30 '15 at 6:17
  • And what if that can't happen either? We're talking about trying to do this online with the current settings... How about putting a swift code into the fields required by the french bank? Aug 30 '15 at 17:44
  • Person 1 risks being charged 25-35 EUR for entering incorrect information. Plus I don't think the website would allow incorrect format for SEPA payment.
    – base64
    Aug 31 '15 at 1:08
  • 25-35 EUR fine or buying plane tickets to go to france... one of them is cheaper ;) Aug 31 '15 at 4:21

If you send money from a typical French bank to a US bank, they're likely to take some fees and/or give an exchange rate worse than the interbank exchange rate.

Revolut uses the interbank exchange rate for EUR <-> USD on weekdays (Mon-Fri UTC) and don't have any fee, so that's the cheapest option I am aware of. They do have a limit of 6,000 EUR / month (reset on the 12th midnight CET of each month), above which they'll take a 0.5% conversion fee (unless you purchase the premium/metal accounts, in which case there is no limit).

Other options: N26 (I haven't tried it) and TransferWise (more expensive than Revolut: they charge a 0.5% fee on the conversion).

Fee comparison from https://www.starlingbank.com/send-money-abroad (Revolut is the best in the benchmark even though it was done by a competitor, starlingbank):

enter image description here

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.