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Auctionchex.com can now offer an IBAN/BIC bank transfer service for users outside of the Eurozone banking system.
A non Eurozone bank account holder (in England or America for example) cannot initiate an IBAN/BIC transfer via on-line banking, as a Eurozone bank account holder in mainland Europe can. They have to complete and submit to their bank a form requesting an IBAN/BIC payment, and will be charged a fee, a minimum of GBP10.00 (Euro15.00) or more in many cases, making a non Eurozone IBAN/BIC payment impracticle and expensive.
Auctionchex, acting as a trusted third party can now make IBAN/BIC payments to Eurozone sellers utilising the services of a Eurozone bank (Keytrade in Belgium) thus avoiding the bank fees for the payment sender which would be charged by a non Eurozone bank.
The non Eurozone payment sender (buyer) will enter the transaction details via an online interface in our Payments section, selecting IBAN/BIC and the currency Euro as the payment method and currency type for the payment recipient (seller).
An Auctionchex account will automatically be created for the payment recipient on submission of the data by the payment sender, and a system generated email will be sent to the payment recipient informing them of their Auctionchex login details. We will also require the payment recipient to enter their IBAN/BIC details in the 'other bank details' part of their My Auctionchex section to enable us to create the transfer on behalf of the payment sender.
Auctionchex will then be able to action the transfer correctly on receipt of funds from the payment sender.
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