I don’t have the habit of talking vaguely.
You know, thisisshree, I’m following your little chat here. Not to be nasty or owt, but do you have a FULL grasp of English? It certainly seems as if you have, so why then are you refusing to understand what EVERYONE, honest Tony of T212 & YOUR OWN BANK is telling you: The intermediary bank stiffed you. No-one else. Case closed.
@DavePlumbBBD Thanks for closing the case. Not trying to be nasty or derogatory. I expected a reply from Tony, but I am receiving replies from everyone except Tony. My last question to Tony was still open.
Your last question to Tony doesn’t make sense. Which is why people may be asking if you have a grasp of English.
What were you trying to ask?
Tony has stated T212 take no fees.
Tony has no way of knowing how your Bank will route the money to T212.
Your bank in this case used an intermediary who took some charges.
It is very likely if you send money this same way again it will will be routed through an intermediary who charge.
@NetRod Thanks for your concern regarding my grammar. I am not very sure if you are concerned about my grammar or my query. I hope I am not talking to a financial / Swift technology expert. T212 understood my query, so raised Reference # 471575. If you don’t know about something, its not your fault. But please check before commenting. Comments are free, but facts are sacred.
Bank transfers in foreign currency do not go directly from one account to the other , even in the same country. For example, if I trasfer USD from my HSBC UK account to my Barclays UK account, it goes through an intermediary bank, HSBC charges me £6 and the intermediary charges £25, Barclays does not charge me for incoming money. The intermediary bank charges are usually deducted from the transferred amount.
The exception is if you are transferring USD to a US bank account.
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@Alien Thanks for sharing.
The exception is if you are transferring USD to a US bank account.
Could you please elaborate.
If you transfer USD to a person or a company’s account in the USA, there will be no intermediary.
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Try TransferWise instead of Money2World it might help as the fees are transparent in TransferWise.
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@Alien In this case, if intermediary charges are must for transfer to Barclays as you mentioned, Vested.co will be more affordable to me than T212, as Vested.co operates directly in US. Again, as I am more interested in US, and dollar is my only supported currency on T212, this is what I felt.
Many brokers are based in the US, funding charges are one of the factors when choosing a broker.
As the charges are fixed, the other thing to consider is how often and how big are your transfers. Less frequent transfers of larger amounts will be relatively less expensive.
@Alien Thanks for your inputs. So I took it as you confirmed that intermediary bank is must for transfer to Barclays. The underlying broker is Drive Wealth who is well reputed broker and there are 0 charges in my case for fund transfer. Considering I do a minimum of 5-6 transfers per year, I need to spend around 150-200 $ extra on an average for trading on T212.
I used to transfer money to USA from the UK. The company which had the best reputation charged me with no explanation.Another one with worst reputation didn’t charge at all.what I learnt is that if intermediary bank is same then you are least likely to get charged.The receiving bank in America for personal account was using the same intermediary for their international transfers and no charge was made.Even if you transfer from SBI India to SBI UK then you will be charged by SBI UK without any explanation in my experience. The Indian banks are worst in fees and rarely transparent on the fees.
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I think you didn’t read my reply 
Sorry if I missed 
wow …
The reply sent by your bank is absolutely correct, namely “charge code as BEN”, i.e. beneficiary.
Upon initiating the transfer om your side, I presume that you had to choose between the following 3 options:
-you to cover the bank transfer fee
-the sum to be split between the banks
-the beneficiary to cover the transfer fee
You have selected the 3rd option as it seems. The fee is deducted by the beneficiary bank, not by us. All this is something standard and expected. Trading 212 doesn’t apply any charges.
You have a contract with your bank, which presumably states the fees for such transactions and how the relevant bank covers them, but this has nothing to do with us.
In a nutshell: the processing bank (regardless if it’s your bank, the intermediary or the beneficiary) is taking the fee. This article might be useful too.
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@Tony.V Thanks for accepting the charges by Barclays, which I was saying from the beginning and you had denied. If you had accepted this earlier, there is no point of this long discussion.
It’s literally what I said in my first reply: we don’t take charges to process your bank transfer, i.e. to allocated and add the funds in your trading account. The corresponding banks may apply such, however this is something standard & expected, and it doesn’t have a workaround, nor it’s actually related to us.