Thanks Sparky

Sorry about that, it's in Turkey and the other bank is also an HSBC. But they don't recognize each other. They say that both are different companies working under different legistation.

I am transferring GBP to a foreign exchange account. I do the exchange by internetbanking whenever the conversion rate is good.

Regarding the transfer fee; when HSBC UK charges me 17 for the transfer that's OK. They're sending money but 1 week after each transfer another 17.52 is withdrawn from my account here. I called HSBC UK first they said 'it has definitely nothing to do with us, it's ordered by the beneficery bank(ie HSBC TR)'. Then I called the other one and they said for transfers from overseas we charge you 30TL(which is around 17£). I told the situation but they don't have anything to do.

You don't say where your loan is (or what currency), nor what you are paying HSBC and the other bank for?

Is it a transfer fee and then a conversion fee for the money?

Does HSBC operate in the other country or could they offer you a foreign exchange account to pay into? Have you spoken to HSBC here about your situation?

Sparky.

huckster and milan_1981,

Thanks for your replies. Actually I contacted the bank from which I got the loan but they refused to change the payment plan. That £35 is the transfer fee and I find it rediculous because 17 of it is charger by HSBC UK and the other 18 is charged by the other bank I owe the money. At the moment I can make all my payments, it's not a problem but paying for nothing is really annoying as you may guess.

I checked the other ways of transferring but what I saw was, the exchange rate is costing almost the same and when I do it through the bank I can transfer without a conversion and wait till the exchange rate is better.

I think I ll have to wait for the end of 12th month and apply for a loan at HSBC UK where I ve my salary account :S

PS: if you ever find out a company/bank with more flexible loan conditions regarding 'residency' please let me know.

I suspect the £35 charge is for international transfer?

Maybe you can look into using one of the non-bank money transfer companies to send the money home. They charge much less than a bank, give better exchange rates and are fairly reliable (google will help u find them).

Or, you can even just mail the cash to your bank, or alternatively mail it to a friend/relative and ask them to pay it in.

timarli:

You would need to find a loan in the country, where the debt exists.

Would suggest that the alternative is NOT to obtain a loan. Write to the companies concerned and explain your circumstances. Offer them a repayment schedule which you can keep to. This best way to pay this, would be quarterley, where you can arrange to transfer the relevant sum to the companies accounts.

Huckster

Hi,

I want to loan money to consolidate my credit in my homecountry(around £4K-£5K to be paid back in 1 year). I ve 11 installments to pay to my old debt and each transaction costs me £35. Annualy around 400£.

I checked a few banks but they said that I needed to have been living in UK 1 or 3 years to be eligible for a loan. I've been here for 9 months under full employement as an engineer. Does anyone know a company who can help me?

Thanks in advance