SANTANDER BANK FOREIGN EXCHANGE REVIEW
More information about sending payment overseas with Santander
Santander offer two options for sending a payment overseas. You can choose either an international payment or send a sterling payment outside UK. All payments need to be done at a Santander branch where you will need your Santander Debit card and proof of ID such as a valid Passport or Driving License. The Santander website does not offer live currency exchange rates and any rate displayed will be an indication only on what you may be expected to get. You need to be an existing customer to do a payment overseas.
Santander can offer a choice of 13 different currencies when you choose to send an International Payment, You can choose from Australian Dollar, Canadian Dollar, Danish Krone, Euro, Hong Kong Dollar, Japanese Yen, New Zealand Dollar, Norwegian Krone, Singapore Dollar, South African Rand, Swedish Krona, Swiss Franc and United States Dollar.
A Sterling Payment option can only be used where the overseas bank accepts Sterling payments. If a Sterling payment is being sent outside the European Economic Area a charge might be deducted by the correspondent bank or the beneficiary bank. Santander has no control over the amount these banks may charge. Sterling Payments being sent outside of the European Economic Area will normally take up to 5 days to reach the beneficiary.
Although Santander does do currency exchange transactions, compared to other banks they are limited to a fraction of the currencies they deal with. Also Santander exchange rates are hard to find online so you will need to go to a local branch to get further information.
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