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International Money Transfer

  • 01-12-2005 8:56am
    #1
    9"solids
    Closed Accounts Posts: 47 ✭


    If i go into my AIB branch and ask for €20K to be transfered to a US stock trading account, will they ask questions ?

    Will it trigger anything -ie large sums being transfered ??
    Are Inter. transfers costed on % or a standard fee

    thx


Comments

  • #2
    air
    Registered Users, Registered Users 2 Posts: 2,834 ✭✭✭air


    I dont think it should trigger any alarms. If the money is in your account and you have saved it through lawful means it's nobody else's business what you do with it.

    Within europe its a standard fee for up to 12.5k (was 75cent last time I did it but it might have changed recently I think).
    I shouldnt think it should cost you more than 20 euro or so anyway. Just go to the foreign exchange desk and ask them.


  • #3
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    A large transaction like this may be reported to Revenue under money-laundering regulations.


  • #4
    chn209
    Closed Accounts Posts: 5 ✭chn209


    When the irish currency was around I transferred £15,000 to a us online broker aswell through the bank and no questions were asked. If the money is legit in your account you have no worries.


  • #5
    chn209
    Closed Accounts Posts: 5 ✭chn209


    chn209 wrote:
    When the irish currency was around I transferred £15,000 to a us online broker aswell through the bank and no questions were asked. If the money is legit in your account you have no worries.

    Opps of course if you make money with that money in dealing with shares you'll be liable for CGT or income tax depending on how frequently you trade.


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