BRED international transfer from France: fees and commissions

This comprehensive guide focuses on international transfers with BRED for customers in France: how do I transfer funds abroad through this provider? What fees does BRED charge for these transactions? What exchange rate does it use to convert currencies? Finally, is there a less expensive alternative for making an international transfer? Let's take a look at these questions!

A Wise account could be a good option for your international transfers, as it uses the mid-market exchange rate and keeps costs lower.

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BRED International Bank Transfer Fees

How much does a SEPA transfer cost at BRED?

Traditional SEPA transfers are free at BRED, unless you make them at a counter.¹ At a BRED branch, the bank charges a fee of €4.20 (with IBAN) and €1.66 for a standing order.

BRED also offers instant transfers. These can only be made online and are free.¹

BRED International Foreign Currency Transfer Fees

Fees for international transfers are divided into two categories: transaction fees and foreign exchange fees. The total cost is the sum of both.

For outgoing non-SEPA transfers, you will pay a 0.12% fee¹:

• From €32.30 to a maximum of €390.00 for a paper transfer
• From €22.20 to a maximum of €252.00 for a wire transfer

Depending on the funds' route, BRED may charge you a correspondent fee of €28.20 per transaction.

You will then be charged a foreign exchange fee¹:

• 0.05% on each transfer < €80,000 (min. €21.50)
• 0.025% on each transfer ≥ €80,000 (min. €21.50)

BRED also charges €6.96¹ for "transferred currency" if you send money in a currency other than that of the destination country. This applies, for example, if you make a transfer to a US dollar account held at a British bank.

BRED international transfer: incoming fees

BRED does not charge any fees for incoming SEPA transfers¹.

Non-SEPA transfers are subject to a repatriation fee of €24¹.

Want to pay less for your local and international transfers? Consider using a Wise account and send funds to 140+ countries worldwide at the mid-market exchange rate, without hidden markups.

How to make a BRED international transfer?

Online transfer via the BRED app or website

To send money, go to bred.fr or the BRED mobile app.

Then²:

• Access your personal account using your login details.
• Click on "Access my transfers" then "New transfer".
• Choose the type of transfer you wish to make (one-off/permanent).
• Select the account to be debited and the one to be credited.
• If the beneficiary is not in the list, enter their bank details (see next point).
• Enter the other information requested: reason for the transaction, transfer frequency, sending date, etc.
• Confirm your request.

You can then track the status of the transfer in your transaction history.

How do I add a beneficiary to the BRED app?

If the person you want to transfer to is not listed in the recipient list, you need to add them manually.

To do this³:

• Go to the "Access my transfers" menu and click on "List of beneficiaries".
• Enter the information found on the recipient's bank details: name, IBAN, BIC/SWIFT code, etc.
• Confirm the addition.

Please note: BRED may need to confirm the recipient itself if their account is outside the SEPA zone.

If this is the case, you won't be able to make the transfer immediately after adding it. This isn't clearly indicated on the website, but most traditional banks follow a similar procedure.

International transfer at a branch

International transfers can also be made at a branch. However, the fees are higher than online.

To send your funds:

• Go to your BRED branch
• Ask your advisor for a BRED international transfer order form.
• Fill in the requested information: beneficiary's name and address (+ their bank's address), IBAN, BIC/SWIFT code, reason for the transfer, amount to send, currency.
• Hand the document to the advisor so they can enter the transfer details.

BRED international transfer FAQ

How long does it take for the beneficiary to receive my BRED transfer?

Transfer times vary depending on the type of transfer, but also on the calendar.

SEPA transfers are processed within 24 hours, in accordance with European legislation. For non-SEPA transfers, it generally takes between 5 and 10 days.

BRED transfers in branch: is it really a bad idea?

Transactions carried out in branch come at a cost. SEPA transfers are subject to a fee, whereas they are free if you make them online.

For international transfers, you will incur an additional €23.40 fee¹ if you make a mistake in the beneficiary's details. There’s therefore a good chance that the transaction will cost you more than if you made it over the counter (minimum €32.30 per transaction).

Transfers in branch are recommended only if you are not familiar with online banking.

What is the rate used by BRED for currency conversions?

BRED's fee schedule does not indicate the exact rate used by the bank for transfers. However, it uses the VISA rate (which is higher) for card transactions.

You can therefore expect a similar markup on international transfers. This is common practice among most traditional banks, unlike Wise, which uses the mid-market exchange rate.

Is it possible to cancel a transfer at BRED?

You are not allowed to cancel a transfer once it has been received by the bank.

In the case of a deferred transfer, you can cancel it up to the business day before it is due to be executed.

The same goes for standing orders: they can be canceled up to the end of the business day preceding the execution date.

Save on your international transfers with a Wise account

By using a Wise account, you can save money on your international transfers. This provider allows you to transfer funds to 140+ countries worldwide and converts currencies at the mid-market exchange rate.

Moreover, it offers users many additional benefits, including:

• The ability to manage 40+ currencies, including EUR, GBP, and USD.
• No monthly or annual maintenance fees.
• Obtaining 8+ foreign currency account numbers to receive money like a local.
• No hidden fees: Wise transparently discloses all fees payable by the user before confirming the transaction.
• An easy-to-use account via a dedicated mobile app.

Open your Wise account

Sources:

This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.