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Question: BIC and IBAN or account and clearing?

J

jellyfish

Dominant
Joined
Feb 18, 2010
Posts
412
This is a question concerning people in Sweden, wishing to withdraw to a Swedish bank account.

I have written to support asking this, but I just want to see what others say too.

(not because I don't trust support, but I'm just too curious :) )

I have always used neteller for withdrawals, but since they changed the rules and you can only withdraw as much from neteller as you have deposited through neteller, I now have to use bank transfer for my withdrawals. This is new to me ^^

So... a person living in Sweden with a Swedish bank account that has SEK as only currency, should he use bic and iban, or clearing and account number?

these kinds of things confuse the hell out of me :D

From what I understood from supports initial response I should use clearing and account number, but my friend who also lives in Sweden says he is using bic and iban...

could both work, or do I need to use the correct one of those two?

I got 18k + 16k ped on withdrawal now, I don't want to have to pay 700 ped minimum in "failed transfer fee" each for those withdrawal attempts...
 
BIC and IBAN should work in all cases
 
bettlejus said:
BIC and IBAN should work in all cases
Click to expand...

Thanks for your reply :)

But one thing that confuses me is that I have sparbanken öresund, but when I put in the BIC the bank name is filled in automatically, and it says "nordea"....

that's why I started wondering if I did it right or not ^^
 
So BIC and IBAN can be used even if you live in sweden.. Will it still take the same time to get the money like if you used only swedish bank clearing & account number?

Damn for small withdraws it doesn't seem worth it. Waiting 75 days or so (50 business days) to get the money is simply not worth for only 300 usd withdraw (that's what I was thinking of withdrawing).
 
Sub-Zero said:
So BIC and IBAN can be used even if you live in sweden.. Will it still take the same time to get the money like if you used only swedish bank clearing & account number?

Damn for small withdraws it doesn't seem worth it. Waiting 75 days or so (50 business days) to get the money is simply not worth for only 300 usd withdraw (that's what I was thinking of withdrawing).
Click to expand...

Support's second reply was that i should leave the IBAN as it is, and use my clearings number in the BIC field.

I miss neteller withdrawals.... :/

with neteller withdrawing 40k took a week, withdrawing ~10k was done in TWO days!

lets see how long these 18k and 16k withdrawals will take... ^^
 
jellyfish said:
Support's second reply was that i should leave the IBAN as it is, and use my clearings number in the BIC field.

I miss neteller withdrawals.... :/

with neteller withdrawing 40k took a week, withdrawing ~10k was done in TWO days!

lets see how long these 18k and 16k withdrawals will take... ^^
Click to expand...

Wow neteller is fast as hell. They really should add paypal for withdraw or something similar.
 
Sub-Zero said:
So BIC and IBAN can be used even if you live in sweden.. Will it still take the same time to get the money like if you used only swedish bank clearing & account number?

Damn for small withdraws it doesn't seem worth it. Waiting 75 days or so (50 business days) to get the money is simply not worth for only 300 usd withdraw (that's what I was thinking of withdrawing).
Click to expand...

50 business days is there from MA, it doesn't matter what you use. Same goes for neteller - the withdraw clause is there from MA. If they at some point introduce paypal withdrawals, there will be the same clause or the 50 days.

Method of withdrawing money has nothing to do with the time it takes to get your money from EU.
 
Sub-Zero said:
So BIC and IBAN can be used even if you live in sweden.. Will it still take the same time to get the money like if you used only swedish bank clearing & account number?
Click to expand...

Normally for bank transfers within sweden you use clearingnumber (tells which bank) and account number (in that bank). Some things make it tricky of course, some of Nordeas accounts you have to look up/ask for clearingnumber and accountnumber, and Swedbank/sparbanken have 5 digits clearingnumbers (where the last digit is a check digit, I guess).

IBAN/BIC is intended for international transfers. Nowdays you can transfer Money to some countries (~EU countries) for a low fee (around 15 PED), it's a special kind of transfer and not (manual) "wire transfer".

Maybe MA keeps the fee for Swedish accounts just to be fair so that people in America doesn't complain they have to pay the 700 ped fee while some countries only pay say 100 ped, dunno.
 
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aia said:
Normally for bank transfers within sweden you use clearingnumber (tells which bank) and account number (in that bank). Some things make it tricky of course, some of Nordeas accounts you have to look up/ask for clearingnumber and accountnumber, and Swedbank/sparbanken have 5 digits clearingnumbers (where the last digit is a check digit, I guess).

IBAN/BIC is intended for international transfers. Nowdays you can transfer Money to some countries (~EU countries) for a low fee (around 15 PED), it's a special kind of transfer and not (manual) "wire transfer".

Maybe MA keeps the fee for Swedish accounts just to be fair so that people in America doesn't complain they have to pay the 700 ped fee while some countries only pay say 100 ped, dunno.
Click to expand...

Actually, I find it strange that Sweden is using 2 systems... In Latvia for example we only use the IBAN system for close to 10 years now (I think the first banks started using it ~2004)?
 
Futurama said:
50 business days is there from MA, it doesn't matter what you use. Same goes for neteller - the withdraw clause is there from MA. If they at some point introduce paypal withdrawals, there will be the same clause or the 50 days.

Method of withdrawing money has nothing to do with the time it takes to get your money from EU.
Click to expand...


you obviously have never withdrawn anything via neteller ;)

when i withdrew from neteller the longest i had to wait was when i withdrew 40k, i had to wait a week then.
every single time i withdrew from neteller i got my money a couple of days later. my fastest withdrawal by neteller was completed in just TWO days! :)

so yeah method of withdrawing has everything to do with the time it takes to get your money ^^

and aia, im glad i dont have swedbank, their clearing number always confuses me... :D
support told me to "mix"... put clearing in the BIC field, and put IBAN in the IBAN field. i hope this is accurate, i would not be happy if i had to pay a minimum of 1400 ped for my two withdrawals because of faulty information from support.... then again i got my reply from chris at support. i have never had a complaint about a reply from chris before :)
 
jellyfish said:
and aia, im glad i dont have swedbank, their clearing number always confuses me... :D
support told me to "mix"... put clearing in the BIC field, and put IBAN in the IBAN field. i hope this is accurate, i would not be happy if i had to pay a minimum of 1400 ped for my two withdrawals because of faulty information from support.... then again i got my reply from chris at support. i have never had a complaint about a reply from chris before :)
Click to expand...
I got swedbank.. and it's indeed confusing.. I don't know if the first 5 or 4 digits is the clearing number, then there's a "-" without quotes before last digit for some reason..

1234-5 123 456 789-1 something like that..

ps: that ain't my bank account number.
 
jellyfish said:
you obviously have never withdrawn anything via neteller ;)

when i withdrew from neteller the longest i had to wait was when i withdrew 40k, i had to wait a week then.
every single time i withdrew from neteller i got my money a couple of days later. my fastest withdrawal by neteller was completed in just TWO days! :)

so yeah method of withdrawing has everything to do with the time it takes to get your money ^^

and aia, im glad i dont have swedbank, their clearing number always confuses me... :D
support told me to "mix"... put clearing in the BIC field, and put IBAN in the IBAN field. i hope this is accurate, i would not be happy if i had to pay a minimum of 1400 ped for my two withdrawals because of faulty information from support.... then again i got my reply from chris at support. i have never had a complaint about a reply from chris before :)
Click to expand...

Yes, ofc, but as I understand now it has a clause that you can withdraw no more than you have deposited with it? So for most its not even usable.


Regular withdraws used to be very quick too years ago, especially for top, well known players.

So imho this just again proves that it doesn't matter what method it is, because in the end it all comes down to the fact that the withdraw time and possibilities will be the exact length or form as MA wants it to be.
 
Futurama said:
Yes, ofc, but as I understand now it has a clause that you can withdraw no more than you have deposited with it? So for most its not even usable.


Regular withdraws used to be very quick too years ago, especially for top, well known players.

So imho this just again proves that it doesn't matter what method it is, because in the end it all comes down to the fact that the withdraw time and possibilities will be the exact length or form as MA wants it to be.
Click to expand...

Yeah they changed the rules, so now you can only withdraw as much through neteller as you have deposited using neteller... luckily my last withdrawal of 40k ped went through just before the change :)
But now i have to do it the same way as all others do.. and it kinda sucks :)

Neteller ruled ^^
 
jellyfish said:
Yeah they changed the rules, so now you can only withdraw as much through neteller as you have deposited using neteller... luckily my last withdrawal of 40k ped went through just before the change :)
But now i have to do it the same way as all others do.. and it kinda sucks :)

Neteller ruled ^^
Click to expand...

Yes, so basically they didn't think it through and what impact it's going to be on them, so they changed it in their favor. So yeah, the method does not matter (it did for you, for a while because of "error or miscalculation"), because it all comes down to MA control.
 
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well, to a person who wants to withdraw 10k peds and has deposited more than that through neteller the method of withdrawal still matters when it comes to the time he has to wait.

and besides, withdrawals through neteller that are less than 1k peds is instant. (if you do it less frequent than once a month)


I get what you mean, but saying that withdrawal method doesn't matter is not true. the fact that I only got one option left is another matter :)

I have done a lot of withdrawals through neteller and it has always been fast, from the day neteller was introduced till the day they nerfed it it was always super fast. even during holiday seasons. :D

I am tired out of my brains and got a really hard time focusing, so I hope you don't get me wrong or interpret anything I said as mean or anything.... :)

.... or that I misunderstood what you said lol, there is a possibility of that right now.. seeing as I can barely keep my eyes open.. >< but anyways... nap time! xD
 
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