Hi all, just a post about one of my financial boo boos.
I went to the bank (UK-based bank ) to pay my conference fees amounting to 100 euros today. The conference is going to be held next month, so I'm quite pressed for time. I had checked earlier if I could pay by Paypal, but the conference people said no.
Ok then, so I was at the bank and had to queue up to get some forms to fill in. It did occur to me that I would have to pay some bank fees for the transaction, especially since the organiser's bank is not based in the UK. I had the shock of my life when I was told that the bank fees would be some 39 pounds...but then decided to go ahead with the transaction because I'm going to be busy wrapping up the thesis soon.
So, end of bank transaction and I went home. My spouse came home a bit later and I told him about the 39 pounds fees. He almost went up the roof when he heard about the fees. He asked me why on earth did I not pay via online banking ?
I would have done so but my internet banking does not allow for international transactions (yes I checked that).That facility is still not available with my bank, unlike banks like Lloyds, HSBC and such. If I had banked with LLoyds, maybe I could have saved myself the 39 pounds !
Still seething with anger about the foolish mistake some 8 hours later...

Latest update ;

I checked my bank balance today and saw that the bank had deducted 24 pounds for the transaction fees...
So along with the 100 euros for the conference fees, altogether it cost me some 90 +24 = 114 pounds.
The next time I make a payment to an overseas conference, I'm going to make sure I read all the small print !

Hi Peppa, I sympathize with you. Unfortunately these extortionate fees apply when you pay for other kind of research activities as well - e.g. digital copies from archives and libraries abroad. Now I use Moneycorp, which charges only £4 for these kind of transactions. The on-line system is not very straightforward- it takes a while to understand how to use it, but it saved me lots of pennies.

I usually pay for overseas things by credit card. There is usually a small fee added on, but nothing as extortionate as some banks do. Might that be an option? Even to have a card with a small credit limit on it for occasions like this. I was able to apply for a credit card early on in my science PhD in the mid 1990s.

Thanks Dr Corinne & Bilbobaggins,
I will certainly look into other methods of paying the next time around. I am not fond of the credit card, but it might prove to be useful in a situation like this. At least I did not lose my money to a syndicate located halfway across the world...argh !