Re: facilitating donations
Oliver Elphick <olly@lfix.co.uk> wrote:
[...]
> You need separate organisations in different countries because of
> foreign exchange costs. These make it uneconomic to send small
> donations across frontiers.
> Germany may be able to serve the whole Euro zone, but even there there
> may still be problems. There was an article in the paper recently about
> an Irish firm which received a cheque for EUR 40 and had it returned
> because the bank charges would have been more than the value of the
> cheque.
That might be correct, even transfering money from Austria to Germany
(direct neighbours, both in the Euro-zone) is _iirc_ going to cost you
at least EUR 7,-. The EU commission is going to force the banks to
lower these costs to the level of domestic money transfers. (The banks
will probably raise the costs for domestic ones and decrease the cost
of foreign money transfers.)
cu andreas
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