(edit title) How to pay in Germany from Sweden?! Bank transfer issue Options

[yume]

Hello there!

So, I just purchased a computer from hardwareversand.de and I am supposed to pay through bank transfer. What I thought when I selected this payment option is that I would go to a bank, give them the amount of swedish SEK and they will take it further to the German bank (yes, I do have the IBAN and swift code and all the other details).

Apparently I was wrong since I can not do this unless I have a bank account opened at the given bank in Sweden... Why is this a problem? Because my account is at Nordea and the best currency exchange rate is at SEB... and since I have the money in cash, I would like to go and pay through SEB... Does it make any relevant difference? Well... yes: about 700 SEK.

In my country, and Italy and UK, you can go to a bank, get a form, fill in the details of the bank where you want to send the money and than, with the money in hand, you go and send the given amount to whatever bank you want. Can one of confirm or infirm that this is not possible in Sweden? Also, can you maybe make me a suggestion about what you think that would be the best solution for my problem... I am really confused since the order is allready placed and I am quite tight with the budget... Speaking of which; the value of the package is 1288 euro. This means about 11700 if you use SEB exchange rate ( 9.0 sek for 1 euro) and about 12.400 SEK if you use Nordea exchange rate ( 9.4 sek for 1 euro).

If you ever been in the situation of buying something from the euro zone with SEK by bank transfer, please advice me and tell me how is best to do! Thank you very much for your time! If you have any questions feel free to post them bellow and I will answer as soon as possible! I will follow this topic very close since I want to fix this on Monday morning!

Thank you!

[Willy]

No way that the exchange rate is that different between to major banks. Are you sure that you are comparing like-for-like? You're probably looking at the rate for physical bills for Nordea and the one for bank transfers for SEB.

In general, anything involving an actual person handling actual money is either impossible or has high fees at Swedish banks. Do it yourself on the net if you can.

[yume]

Unfortunately I don't have an option to pay by card because hardwareversand.de don't offer me such a method when I go to checkout... I can either make a bank transfer or I can pay by PayPal which is not really an option since the commission is huge (5%)...
So I really need to find a solution to this...

Maybe some one can tell me which is the most straight foreword procedure to pay from SEK to Euro through bank transfer. As I said, I do have a freshly opened bank account at Nordea...

On a different note, does any body know if Forex would be a good idea? I know they are exchanging money everywhere so maybe they can help me with this issue and offer me a decent exchange rate...

[johnjohn]

Is the computer that much cheaper in Germany? Will you be paying the 20 percent VAT Sweden charges upon arrival?

[Willy]

Maybe some one can tell me which is the most straight foreword procedure to pay from SEK to Euro through bank transfer. As I said, I do have a freshly opened bank account at Nordea...

Exactly, if you have the internet login for Nordea, you should be able to do a SEPA/"EU" transfer yourself from there. This is by far the most cost-efficient option.

Is the computer that much cheaper in Germany? Will you be paying the 20 percent VAT Sweden charges upon arrival?

Swedish VAT is never added on delivery when you order from within the EU. Sometimes sellers are required to add it, but then you will know and pay it already when ordering.

[Yorkshireman]

Swedish VAT is never added on delivery when you order from within the EU. Sometimes sellers are required to add it, but then you will know and pay it already when ordering.

When ordering within the EU, VAT is to be added to the selling price, or it is already included. Which % they use depends upon the selling companies trade with Sweden, if the annual trade is of a value over a certain threshold they are supposed to start charging Swedish VAT rates, if it is under then they should charge seller country rates (German). Can't remember of-top-of-head, but I think the threshold for sales is somewhere between 50.000 -> 100.000 Euro in a 12 month period.

Going into a bank with cash and even paying a single bill in Sweden is becoming more and more expensive, once you start to factor in currency, international transfer etc... then it adds up!.

Always cheapest to pay with card, or via your own bank (although they will also most likely add a fee)

[yume]

@Willy: I have some issues loging in on my internet account so wouldn't be the same thing to go in person at a Nordea branch? Here are the exchange rates from Friday since some one couldn't believe the huge difference between SEB and Nordea
http://www.seb.se/pow/borsfinans/default.a...1256D7F0042287A
http://www.nordea.se/Privat/Valutakurser/2...rser_19-03-2012
Yes, the computer is that much cheaper... With 1282 euro I managed to get an i7 intel with gtx 560 ti as GPU and a good all around computer. Add Windows, Monitor, assembley service plus instalation of all the software. In Sweden I could buy a slightly weaker computer with about 11.700 SEK... So you can see the difference...
And yes, even though it might sound odd, I do have those money in cash because after I came from UK I was not able to open a bank account until recently when I managed to get my personal number... So I still have them with me.. that's why I would rather just go and send them...
Thanks a lot for your replys and please do tell me what is SEPA/"EU" transfer... as in do they use the same exhange rate like I linked above? And even if they do, do they charge any commission? Also please tell me if I can make it at the desk on Monday morning! Thanks!

[yume]

I can't edit my last post for some reason... what I wanted to say when I was telling you the price of the computer if I would have bought it from Sweden was that 11.700 was only the case.. no windows, monitor, assemble service etc etc

[edd1]

The links you put up,

SEB was for making payments and Nordea was for actually buying Euro notes in cash, which of course is at a different rate.. Check with Nordea as your not looking at the right page for the rates...

[Willy]

@Willy: I have some issues loging in on my internet account so wouldn't be the same thing to go in person at a Nordea branch?

No. If you go there in person, you are taking up the time of an expensive employee and the bank will pass that cost on to you. If you do it online you are taking up the time of an inexpensive computer.

Here are the exchange rates from Friday since some one couldn't believe the huge difference between SEB and Nordea

"Sedel" means bill/banknote. Just as I suspected, you were looking at the exchange rate for physical bills in the Nordea case.

Thanks a lot for your replys and please do tell me what is SEPA/"EU" transfer... as in do they use the same exhange rate like I linked above? And even if they do, do ... (show full quote)

Thanks a lot for your replys and please do tell me what is SEPA/"EU" transfer... as in do they use the same exhange rate like I linked above? And even if they do, do they charge any commission? Also please tell me if I can make it at the desk on Monday morning! Thanks! ... (hide full quote)

Again, you choices are:

1) Go to the bank in person. Expect to pay expensive fees, probably several hundred crowns at least.
2) Sort out your Internet banking and do it yourself. SEPA-betalning/EU-betalning/europabetalning are just different names for automated standard payments in euros within the EU. Usually they are either free or cost 10 kr or so.

[Somebody]

Wouldn't be the easiest way to speak to somebody you know here, who has a Swedish bank account and ask that person to transfer the money online on your behalf with minimum charge. Then give him the money back in cash.
Problem solved!

[yume]

Allright... I will still go tomorrow morning to the bank in order to
1) Ask about my issues with the internet banking and maybe get some details about how to do such payment
2) Ask about the fees and see if they are reasonable enough to make me get over, pay, and be done with it

I will also consider the last option suggested... I might have a Swedish friend who might be able to help me with this issue... Indeed, it would save me a lot of trouble...

Ok folks... thanks a lot for your input and hopefully I'll sort it out... I will post back here no mater how it goes since this might help some one else at some point who might have the same problem...

One last thing... @Willy... So the rates I was looking were wrong... Can you maybe tell me which was the right one for my problem? Was it the one at SEB that was related with the bank transfers or was it the one on Nordea?
Thanks a lot man!

Dan