24 Nov
2004
24 Nov
'04
5:43 a.m.
I've also had several people from other parts of
Europe (I'm in the UK) asking if they can pay
directly, all I need to do is provide an IBAN for
my account. I've declined up to know (because I
have no idea how it works, what scams might lie
behind it and - most importantly - what the charges
are and who pays them!) and they've all gone on to
pay via PayPal.
IBAN is a very good way of transferring money inside Europe.
EU regulations make it illegal for banks to charge more for IBAN
transfers than for transfers inside a country.
This makes it in fact the cheapest way of transferring money inside
Europe.
I do not know how UK not being in the Euro zones affects this though.
Jos