Business Account Overseas Money Transfer Options – Halifax Bank
Halifax Bank overseas business payments may have associated charges and fees which you can avoid when making corporate money transfers. If your business has overseas payments to manage, a regular foreign payroll to make, or overseas earnings to repatriate, Halifax business clients should consider using a currency transfer specialist to help save money and automate these processes.
| HALIFAX BANK | MIN. TRANSFER | SPEED | *GUIDE RATES | INFORMATION |
|---|---|---|---|---|
| GBP £ - to EUR | NO MINIMUM | 5/7 DAYS | €1.126 | MORE DETAILS |
| GBP/EUR (BROKER RATES) | FROM £100 | 1 DAY | €1.16 | MORE DETAILS |
| EUR € - to GBP | NO MINIMUM | 5/7 DAYS | £0.826 | MORE DETAILS |
| EUR/GBP (BROKER RATES) | FROM £100 | 1 DAY | £0.85 | MORE DETAILS |
| GBP £ - to CHF | NO MINIMUM | 5/7 DAYS | Fr 1.101 | MORE DETAILS |
| GBP £ - to CZK | NO MINIMUM | 5/7 DAYS | Kc 28.303 | MORE DETAILS |
| GBP £ - to DKK | NO MINIMUM | 5/7 DAYS | kr 8.4 | MORE DETAILS |
| GBP £ - to HUF | NO MINIMUM | 5/7 DAYS | Ft 441.459 | MORE DETAILS |
| GBP £ - to NOK | NO MINIMUM | 5/7 DAYS | kr 13.289 | MORE DETAILS |
| GBP £ - to PLN | NO MINIMUM | 5/7 DAYS | zl 4.86 | MORE DETAILS |
| GBP £ - to SEK | NO MINIMUM | 5/7 DAYS | kr 13.179 | MORE DETAILS |
Transfer exchange rates are calculated and updated hourly (Monday to Friday) from 8 am to 4 pm UK – GMT
Halifax Business Account – General Fees
A Halifax Business Account offers a range of services for businesses, including online banking, mobile banking, and telephone banking. However, as with most bank accounts, there are general fees that businesses should be aware of. The monthly account fee is £6.50 per month, and there are additional charges for cash deposits, cheque processing, and other transactions. It is essential to understand these fees when opening a Halifax Business Account, as they can impact the overall cost of banking for your business.
Halifax Business Account – International Charges
For businesses that operate on a global scale, having an international business account with the right features is essential. Halifax Business Account offers businesses a comprehensive international account that allows them to transact across borders. However, it’s important to note that international transactions come with additional charges. These charges vary depending on the currency, location, and type of transaction.
Halifax Business Account’s international charges are transparent and clearly outlined on their website. They offer competitive exchange rates, but it’s important to keep in mind that there may be additional fees for receiving or sending money internationally. Halifax Business Account’s international charges are fair and reasonable for businesses that need to conduct international transactions regularly.
Business owners may want to explore alternative options if they frequently conduct international business and want to minimise these charges, whilst attaining the very best foreign exchange rates when making or receiving payments in other currencies.
Halifax Bank – International Business Exchange Rates
Attaining the very best exchange rates are essential for businesses that handle international currency transactions since they determine the value of goods and services being exchanged. Halifax Bank offers quite competitive exchange rates for business customers, their rates are frequently updated to reflect the current market conditions. Halifax Bank provides its business customers with access to a range of foreign currency accounts and hedging products that can help businesses manage their currency risks effectively. All in all, Halifax Bank’s international business exchange rates and related services are designed to meet the needs of businesses that operate in the global marketplace.
Halifax Bank and SEPA (Single Euro Payments Area)
SEPA (Single Euro Payments Area) rules are written around the euro currency, general EU banking laws and do not take into account the actual currency conversion or money transfer exchange rates, which is what happens when money is transferred into or out of the euro zone. European banks including Halifax Bank can still charge anything they like for that service, irrespective of SEPA.
The aim of SEPA is to make payments in euro and across Europe as fast, safe and efficient as UK payments are today. On the downside, all banks (Halifax Bank included) will still charge their own foreign exchange margin rate to the transaction.
Example: Halifax Bank SEPA Business Transfer
A Halifax Bank SEPA business currency transfer (Halifax Bank to an external bank brand) from UK pounds to the euro has a commission fee capped at £2.00 on the actual transaction, however the transfer amount sent has a 3.6 percent exchange rate margin applied, which is deducted on the total amount received. This is far from the best business money transfer deal on the market. Moreover, SEPA payments can take longer to complete than transactions via a currency transfer specialist.
For businesses who transfer regular amounts overseas to make payments in the euro or other popular European currencies, using a currency broker is a money saving decision if your monthly transfers exceed £250. For smaller amounts you’ll have to continue using Halifax Bank service.
For further information regarding Halifax Bank overseas business exchange rates, business account international payment fees, charges and SEPA, you could ask a currency transfer specialist which options you have available for your business payment requirements, or contact your local branch’s Halifax Bank Business Manager directly.
