Sending Money Abroad

A question about : Sending Money Abroad

Hello,

I'm not sure this is the right forum for this question, but it does kind of concern family so I thought that I would post it in here.

I agreed that I would pay for my sister in law to come over from Canada to visit with my wife and me. My sister in law has already purchased the flights and I am wanting to send her the money. I got a lot of information from her and her bank details to help me do this.

I went into my online bank (NATIONWIDE) and got started on arranging the payment. While doing so it asked for a BIC/SWIFT code which I received from my sister in law's bank webpage. The webpage actually lists a Correspondent Bank, a Beneficiary Bank and a bank which is listed under Paymen Details. Both the Correspondent and Beneficiary Bank have a SWIFT code although I have found out that only the code from the Beneficiary bank is relevent. Under the BIC/SWIFT Code request is a field for an account number. An employee of my sister in law's bank in Canada told me that I would need to put the Beneficiary Bank's Account Number in that particular field and that there should be another field where I can input my sister in law's bank account. I have entered everything in there but there is nowhere to enter the bank account. Now I have already entered her name and address earlier in the process but not her bank account details.

Is this SWIFT Code and Beneficiary Bank account number all I need to complete this transfer or do I need to input her bank account number?

I really don't want to do the transfer unless I'm certain that it will be correct. Does anyone have any advice about this or done this before and can confirm that the details I have entered are in fact correct and nothing else is required?

Any help would be greatly appreciated. Also if this is in the wrong forum could an administrator be so kind as to move it for me. Many thanks. I hope I haven't bored you to death with this.

Best answers:

• Don't really understand the transfer but when I send money to my friend in America I use paypal if two people have email addresses it's easy to do.
• No, no, NO!
  You will pay a fortune in various banks' charges this way.
  Use an FX broker like
  www.currencyfair.com
• When I've helped my Gordon to transfer money from his Nationwide account to his account in South Africa we haven't had to enter the beneficiary banks number. It has needed the following information: Swift number, godsons account number and the banks address. If you are unsure then just go into a branch of the Nationwide and they can do it for you - the fees the bank levy are the same whether you do it online or in branch. The money will need to be sent in Canadian dollars or the person receiving it will have additional fees by their bank to pay to convert it.
• My sister and I also use Paypal. Way cheaper than bank fees.
• have you looked at transferwise - cheaper and much better rates
• If she is coming over here why not just give her money when she is here? She can use it as her spending money as necessary and exchange any left over when she goes back.
  There are third party firms as mentioned above that are likely to be much cheaper than your own bank. Either way you will only need details of her account. Namely this is the SWIFT or BIC which is the code that identifies the bank itself and the IBAN which is the international version of her bank account number. In the UK IBAN is normally different to the UK bank account number because of the use of sortcodes here but elsewhere the IBAN and normal bank account number can be the same.
  Some will also ask you to type in things like the branch address and payee name etc but they are belts and braces rather than being strictly necessary in many cases.