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Best way to wire money to Ireland?

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  • 02-07-2014 12:34pm
    #1
    whitey1
    Registered Users Posts: 358 ✭✭


    I'm heading over to Ireland next month. Normally I put everything on the credit/debit card, but this time I will need cash to handle a couple of big transactions.....notably accomadation

    Anyone know the best away to wire money over to Ireland. I can have my brother receive or pick it up?


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    #2
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    xoom.com

    You can transfer upto $3000 for $5 - a lot cheaper than the banks


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    #3
    coylemj
    Registered Users Posts: 25,334 ✭✭✭✭coylemj


    iusedtoknow wrote: »
    xoom.com

    You can transfer upto $3000 for $5 - a lot cheaper than the banks

    The exchange rate is what matters, not the fixed charge. This is like telling people to do FX in the post office purely because it's 'commission free' with no reference to the exchange rate which is usually worse than the Irish banks.

    xoom.com is currently offering €710.65 for $1,005 whereas if you walk into a Bank of Ireland with 1,000 US Dolllars they will give you €715.60 (net of commission) - a marginally better net rate (1.3974 vs. 1.4142) for cash than an electronic transfer!


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    #4
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    But then banks such as Bank of America charge you a fee as well as an exchange rate, if you wire - so xoom you usually end up on top anyway.

    However you're right - the best exchange rate is going to be walking into a bank in Ireland and changing there, however I'm never comfortable travelling with a lot of cash (moved to the US with 10000 on me...never doing that again)


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    #5
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,911 Mod ✭✭✭✭Ponster


    Another vote for Xoom. Download the app and you'll make the transfer in under a minute. Also when transferring from USa to Ireland you'll see the money in the Irish account in under an hour.


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    #6
    spideog7
    Registered Users Posts: 1,230 ✭✭✭spideog7


    I've heard good things about Currencyfair too and their rates are better than Xoom. Used Xoom myself but might try Currency fair next.


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    #7
    jjbrien
    Registered Users Posts: 2,678 ✭✭✭jjbrien


    I use xe.com and found their rates very cheap and usually no service fees


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