HSBC to Trading 212 transfer fees

I did 2 transfers from my UK HSBC currency account to Trading 212, both are received, which is great.

Issue is, 1st one went in without any additional fees. 2nd one was $25 short, which is odd as I paid the fees at source in both cases.

I am aware Trading 212 does not charge for transfers and trust that statement. When I took it up with HSBC, they are telling me they have not taken anything apart from what I pay at source.

Has anyone else experienced this, and could it be that Trading 212’s bank charges a fee, which does not mean Trading 212 does ?

I just checked the transaction in question - it’s a fee applied by your bank. When transferring funds in-between bank accounts with different currencies, then in most of the cases a “shared fee” is applied between the sender and the recipient. I can see that we have covered what your bank requested from us, and I suppose that the rest of the “shared fee” was directly deducted by your bank.

Thanks a million for looking into this @Tony.V !!

I actually asked HSBC and looked up there fees and charges for currency account, and no mention of hidden fees.

2 days before, I tested with $10 transfer and exact amount was received as funds. But I totally trust your explanation and will get back to HSBC.

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@samir please post an update regarding hsbc reply, kinda noticing the same

I definitely will as soon as I get to the bottom of it.
Waiting on HSBC to verify and trace the transaction, then get back to me.

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@b3699 Hit a dead end with HSBC, they claim full amount was sent to T212. This leaves me with one conclusion, Barclays Bank are deducting a fee before forwarding deposit to T212.

This however still does not explain why a previous $10 transfer went in fine. I guess they may have a threshold for charges on currency accounts.

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When sending wires, especially for large amounts and cross-border, some banks use an intermediary, who may also deduct their own fee. Perhaps this is what may have happened to you. HSBC had their own wire fee, but some intermediary bank used by HSBC also added its fee.

Thanks Richard,

I would have expected no additional fees between UK banks.
Barclays actually does have a £25 ( not $25 as in my case) fee for receiving currency funds.

@samir thanks mate! I hope u get the clarity!