What does Debit only UK charges from the account mean?
This is when the UK charges for transferring money are taken from your account.
Any international charges will be taken from the money you’re transferring.
So your recipient will receive the payment amount minus any international charges.
As part of the second Payment Services Directive (PSD2), the payment service regulators have introduced the following regulation on payments for all banks across the EEA:
Where the senders Bank and the beneficiary’s Bank are located within the EEA, irrespective of the currency of the transaction, shared charging (SHA) is mandatory, which means:
- the sender must pay any charges levied by their Bank
- the beneficiary must pay any charges levied by their Bank
Therefore the only charge option available is Shared (SHA).
This is the case for both sterling accounts and currency accounts
EEA countries where shared charging would be mandatory
How helpful did you find this article?
Thank you for leaving some feedback
Thank you for taking the time to leave some feedback. We will use this information to improve our service.
Sorry this didn't answer your question
Please take a moment to leave some feedback, using the form below. PLEASE NOTE: Do not include any personal or account details: we cannot answer specific questions about your account.
Thank you for your rating
Please tell us why you found it useful using the form below. PLEASE NOTE: Do not include any personal or account details: we cannot answer specific questions about your account.