BNP Paribas International Transfers & Exchange Rates

BNP Paribas is officially Europe’s largest bank, with total assets in the region of $3.2 billion, as of 2021. Headquartered in Paris, the French financial institution now operates in over 70 countries around the globe. In this review we will focus on the bank’s international offerings, as we evaluate whether this is a reliable service provider for customers who plan to send and receive money overseas.

About BNP Paribas

Formed through the merger of Banque Nationale de Paris (BNP) and Paribas, this French multinational banking group has become hugely popular across five different continents since its incorporation in 2000. Known as “the bank of the changing world” BNP Paribas provides versatile financial products and services to a global customer base. Depending on the circumstances, sometimes the bank may be referred to by its full name, BNP Paribas S.A.; this suffix stands for Société Anonyme which translates to Anonymous Society, the French equivalent of a Public Limited Company (PLC.)

Aside from everyday personal banking solutions, account holders can also receive support with matters related to investment banking, financial planning, asset management and corporate leasing.

BNP Paribas Exchange Rates and Fees

Let us get into the finer details of BNP Paribas foreign currency transfer services, by discussing the exchange rate applied to the bank’s international transfers, as well as the type of fees that are charged.

Exchange Rate

Our research indicates that the most popular BNP Paribas foreign currency transfers incur an average mark-up of 1.2% above the mid-market rate. The more exotic foreign currencies sent and received between remote parts of the world tend to incur an exchange rate spread of 2 - 4% which is about average for international transfers arranged through a bank. For a full list of live rates visit the BNP Paribas website of your country.*

We always encourage customers to compare any quote received for a currency pairing, before locking in an international transfer, as the mark-up could detrimentally impact the value of foreign exchange.

*Readers should bear in mind that the currency rates listed on the BNP Paribas website are illustrative and subject to change, based on day to day market fluctuations. Overseas payments made through a BNP Paribas account will be exchanged using the current foreign currency exchange rates (live or other rate mechanisms as agreed) at the time of payment, which may be different to the original quoted rate of exchange.

Transfer Fees

As one of Europe's biggest banking authorities, BNP Paribas is able to offer Instant SEPA payments, making it very easy for customers to send and receive Euro transfers. The fees for each international transfer - SEPA or non-SEPA - will vary country to country, and is largely dependent on the chosen currency pairing, origin and destination countries and transfer amount. Customers banking with BNP Paribas can log into their online account to review the applicable transfer fees.

How Do BNP Paribas Transfer Fees Compare to Other Money Transfer Providers?

Fees charged by BNP Paribas will differ from country to country and largely depend on the currencies being transferred. However, the fee structures employed by leading money transfer companies like Wise, Currencies Direct, Instarem and OFX are undoubtedly more straightforward and competitively priced: find out for yourself by using our comparison tool.

BNP Paribas Pros and Cons

As with any service provider, it is important to consider the difference in price, speed, security and location coverage when arranging an international money transfer. We have collated the biggest advantages and disadvantages to make it easier for our customers to weigh up the pros and cons.

BNP Paribas Swift Codes

How to Open an Account and Transfer Money With BNP Paribas?

Due to the different types of financial services available worldwide it is sometimes easier to register for an account online with certain banks, so we want to know how simple the BNP Paribas sign up and money transfer process is.

Opening an Account

According to BNP Paribas, opening an account with the bank can only be done in person, by visiting your nearest bank branch and completing an Account Opening Form (AOF). Once you have entered the required customer data (full name, address, contact information, chosen account type) you will be asked to attach copies of your supporting documents: this documentation will be indicated on the form.

Once your account is authorised and opened by the bank, customers are required to maintain a minimum balance as outlined in the account agreement, depending on the chosen type of account. You will be presented with a debit card, chequebook and all corresponding paperwork after the account has been successfully opened. Your account will then be ready to use for your first international transfer.

Transferring Money

Customers can send money from your bank account to any bank account within the SEPA jurisdiction, or outside of it, using a BNP Paribas bank account. To make an international transfer, all you need is the beneficiary's IBAN (International Bank Account Number), as well as the Swift Code; also known as the Bank Identifier Code or BIC. The beneficiary's bank will be credited the same day if you move funds between two accounts created with the same bank.

Additional Information

European and international transfers have different fees. As a result, you should review the list of overseas transfer fees before submitting your unique remittance.

What Customer Support Options Are Available?

There are local customer service phone numbers for each country that the bank operates in. Further to this, support can be found on the website and via the GOMobile app.

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