Doing a Sublet---Need Info About Banking System in Netherlands
Jun 16th, 2006, 05:21 PM
#1
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Doing a Sublet---Need Info About Banking System in Netherlands
Need info about the banking system in Netherlands....trying to do a sublet with a person in the Netherlands who says that due to banking systems wiring the money or sending me a check or money order is not possible.
Is this true? What other way would you suggest of handling receiving a deposit other than waiting to meet in person, or wiring it directly to a bank account?
Thanks for all of your help.
Is this true? What other way would you suggest of handling receiving a deposit other than waiting to meet in person, or wiring it directly to a bank account?
Thanks for all of your help.
Jun 17th, 2006, 02:36 PM
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just a word of warning.
a friend's daughter "rented" a flat from someone in Paris she THOUGHT was the owner.
turns out it was the renter, who was SUBletting( which some places is illegal).
also, the renter was charging the girls Double what he was supposed to pay the owner.
Anyway, make sure you know who you are dealing with and if it is legal there.
hopefully the local poster can advise you better with dutch law.
i find it strange this person won't accept a transfer with you paying all transfer reception expenses. foreign checks and money orders are expensive ( for receptor to cash ) and take a long time to cash.
even transfers take a few days, carry expenses, but the sender can upfront all costs for that so the money actually put into the account is the amount agreed on.
a friend's daughter "rented" a flat from someone in Paris she THOUGHT was the owner.
turns out it was the renter, who was SUBletting( which some places is illegal).
also, the renter was charging the girls Double what he was supposed to pay the owner.
Anyway, make sure you know who you are dealing with and if it is legal there.
hopefully the local poster can advise you better with dutch law.
i find it strange this person won't accept a transfer with you paying all transfer reception expenses. foreign checks and money orders are expensive ( for receptor to cash ) and take a long time to cash.
even transfers take a few days, carry expenses, but the sender can upfront all costs for that so the money actually put into the account is the amount agreed on.
Jun 17th, 2006, 04:32 PM
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Unless you get some specific official directive from a financial institution, I would drop this one. We rented an apartment in Lisbon for a week and the agent drove me crazy with her demands for full payment by wire to a bank account, ahead of time. ("That is the only way it can be done, due to the banking system") It took me weeks to get her to be reasonable, and if she had not I would not have rented the aparment.
Jun 18th, 2006, 08:58 PM
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ilovetotravel29,
It appears that you are expecting someone in NL to send you a deposit. It is possible.
Tell your client to have their bank transfer the funds to your bank. You send the person the name and address of your bank, your bank's routing number, and your bank account number. This is a no brainer and the way it is done all the time. No deal until their money is in your account. Maybe they must pay $30 or so for the transfer service. That is their cost of doing business, not yours.
I presently have an account in NL, have had bank accounts in 4 other foreign countries, and have transferred money this way many times.
Jun 18th, 2006, 10:28 PM
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be sure to get/give them the bank's SWIFT number, otherwise this will not go through.
the reciever might ALSO have expenses to receive a transfer, depending on the policy of the receiver's bank.
it can be a very expesnive way to deal with a small amount of funds.
the reciever might ALSO have expenses to receive a transfer, depending on the policy of the receiver's bank.
it can be a very expesnive way to deal with a small amount of funds.
Jun 18th, 2006, 11:24 PM
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There is absolutely no problem in doing a bank transfer. Just tell this person to go to his bank, and arrange it with them. It is true that cheques are hardly ever used in The Netherlands; payments are always made through bank transfers. Just make sure he has all the relevant details, Swift codes etc.
The only problem here might be the cost; you would have to agree who pays the cost of the transfer, which could be fairly high if this is a transfer to the US.
The only problem here might be the cost; you would have to agree who pays the cost of the transfer, which could be fairly high if this is a transfer to the US.
Jun 19th, 2006, 03:20 AM
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Are you absolutely sure that a SWIFT code is necessary for all international transfers? We do a lot of international invoicing and don't use a Swift code-the main numbers involved (aside from our bank account number) are the Sorting Code, IBAN and BIC. It was our understanding that many European banks now use IBAN instead of SWIFT.
Jun 19th, 2006, 03:34 AM
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Found the answer, I was confused because the SWIFT *code* is not just a number--it's a combo of letters and numbers:
"A BIC, which is also known as a SWIFT code, is an 8 or 11-digit combination of letters (or letters and numbers), which allows for identification of the beneficiary's bank upon processing international payments. Hansabank's BIC, i.e. SWIFT code, is HABAEE2X."
"A BIC, which is also known as a SWIFT code, is an 8 or 11-digit combination of letters (or letters and numbers), which allows for identification of the beneficiary's bank upon processing international payments. Hansabank's BIC, i.e. SWIFT code, is HABAEE2X."
