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Multiple Currency Bank Account (Sterling and Euro) - is it possible?

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  • 22-04-2009 10:11pm
    #1
    IH77
    Closed Accounts Posts: 301 ✭✭


    My wife works in the UK and gets paid Sterling into a UK bank account (Lloyds TSB). I work in Ireland and get paid Euros into my Bank of Ireland account. We want to have our funds with the one bank.

    Is there any single bank (that has branches in both UK and Ireland) that would allow us to be paid into the one account? Or at least two separate accounts (1 x Sterling and 1 x Euro) with the one bank that would enable us to transfer money between the two accounts online?

    We would have to be able to access the funds from either account in the UK and Ireland at an ATM.

    We want to have our money with the one bank for convenience, is this at all possible given our circumstances?

    Thanks.


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    #2
    milly4ever
    Closed Accounts Posts: 542 ✭✭✭milly4ever


    IH77 wrote: »
    My wife works in the UK and gets paid Sterling into a UK bank account (Lloyds TSB). I work in Ireland and get paid Euros into my Bank of Ireland account. We want to have our funds with the one bank.

    Is there any single bank (that has branches in both UK and Ireland) that would allow us to be paid into the one account? Or at least two separate accounts (1 x Sterling and 1 x Euro) with the one bank that would enable us to transfer money between the two accounts online?

    We would have to be able to access the funds from either account in the UK and Ireland at an ATM.

    We want to have our money with the one bank for convenience, is this at all possible given our circumstances?

    Thanks.

    National Irish Bank in the South and Northern Bank in the north, are both part of the danske group. Money is transferred free of charge online.


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    #3
    IH77
    Closed Accounts Posts: 301 ✭✭IH77


    milly4ever wrote: »
    National Irish Bank in the South and Northern Bank in the north, are both part of the danske group. Money is transferred free of charge online.

    Thanks, that is a good alternative if there is no way to have the one bank only option. Plus, we would want to be able to access the funds (fee free) while in England (where my wife works), and I can't imagine there being any Northern bank branches or ATMs there.


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    AIB, BOI, Halifax are have branches here and in the UK (inc NI)

    BOI and AIB have the better branch network here and in NI (obviously)
    AIB & BOI would have a weak branch network in the UK, however BOI have their tie in with the Post Office. This means that you can do basic transactions with your BOI a/c in the post office (lodge / withdraw cash, lodge chqs, currency etc. The BOI also has a network of over 1000 ATM machines up and down the UK in most Post Offices. OF course you can use your card in any machine.

    Halifax on the other hand would have a main street presence in the UK and would offer more facilities than the BOI / AIB.

    For the sake of saving a day in transferring money here and there, and also for the sake of handiness and convenience, I would stick with your present arrangements. You have the option of setting up international beneficiaries on both internet accounts. All you need is IBAN / BIC codes with Names and Addresses of beneficiaries.

    The one bank (as in one branch) is not an option for what you want to do. For instance most businesses have a foreign currency a/c attached a current a/c. In BOI's case it would be domiciled in BOI Global Markets. You cant get ATM cards on the a/c, only a chq book. Access to money is notoriously difficult.


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    #5
    daithijjj
    Registered Users Posts: 7,588 ✭✭✭daithijjj


    I have accounts with halifax in ireland and lloyds tsb in the uk. I asked at halifax/ireland if they were the same as halifax in the uk and they told me that there was no point joining halifax in the uk, it would make no difference to my current banking arrangements.


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    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    daithijjj wrote: »
    I have accounts with halifax in ireland and lloyds tsb in the uk. I asked at halifax/ireland if they were the same as halifax in the uk and they told me that there was no point joining halifax in the uk, it would make no difference to my current banking arrangements.

    Nobody said it wouldn't. Different durastrictions with different rules and regulations govern that. The OP essentially wants to bank with one bank or the other in both durastrictions. However the method by which the OP is proposing is not possible.


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    #7
    daithijjj
    Registered Users Posts: 7,588 ✭✭✭daithijjj


    stepbar wrote: »
    Nobody said it wouldn't. Different durastrictions with different rules and regulations govern that. The OP essentially wants to bank with one bank or the other in both durastrictions. However the method by which the OP is proposing is not possible.

    I was just saving the OP the bother of walking into a halifax to find out. Is that allowed in this forum?


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    #8
    cooper38
    Registered Users Posts: 88 ✭✭cooper38


    Problem with mutiple currency accounts is the banks rip you off on the exchange rate and fees.

    You can already access both accounts from either the uk or ireland however rates charged are terrible.

    The only way not to be in control of the rate is to send money from a to b and find out who can do that cheapest.. Currency.ie are cheaper than the banks and send money next day either way.they do dd for ireland and the UK

    Ive used currency.ie and compared to the bank their rates are better.
    I dont think you can find a multiple currency account that when in the uk will allow sterling withdrawl and in ireland euro


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    #9
    pharmer
    Closed Accounts Posts: 6 ✭pharmer


    try citibank


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    #10
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,905 Admin ✭✭✭✭✭Toots


    *Thread bumping/ Resurrecting Old Threads
    Don't drag up an old thread to post something (and by old, we mean anything that hasn't had a post in a month or so), and don't bump your own threads just to get attention. The only exception to this is if an OP comes back to post an update on a situation. Anything else will be locked.

    Locked.


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    #11
    pharmer
    Closed Accounts Posts: 6 ✭pharmer


    this thread wasnt answered so i suggested a solution to the problem because citibank hold both sterling and euro accounts. anyone searching this now has the answer. get off your horse


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    #12
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,905 Admin ✭✭✭✭✭Toots


    Why didn't lock the first time I posted, I don't know :confused:

    Anyhoo, pharmer - infracted for arguing with mod on thread.

    Locked (for sure this time)


This discussion has been closed.
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