Moving to Ireland from UK - Bank Questions

Saracen

I may be moving to Ireland soon if a certain job offer comes through. I've got a few questions about banking.

I will be maintaining a few bank accounts in the UK for some savings and for spending (when I buy things online). What is the most efficient way to transfer money to and from the UK from an Irish bank? Which bank has the best service when it comes to such transactions? Who has the best online banking service? Is it possible to have accounts with more than one bank?

I will probably also sometimes want to cash sterling cheques, am I better of cashing them in the UK, then transferring the money over, or is it possible to cash them in Ireland without taking too big a fee hit?

I've got a number of credit cards here, some of which I'll need to pay off, what will be the best method to take Euros from an Irish bank and pay them to a sterling card? Can I transfer the sterling balance to an Irish card?

How easy will it be for me to get an Irish Credit Card, if I've only just arrived in the country? It seems to me that you can't use Laser to make payments on websites.

Thanks for any guidance on these matters.

BuffyBot

Saracen wrote:

What is the most efficient way to transfer money to and from the UK from an Irish bank?

From the UK - ask your curren bank. To the UK from Ireland, it's easily enough done - you just use the IBAN and BIC which should be printed on your UK statement.

Which bank has the best service when it comes to such transactions? Who has the best online banking service? Is it possible to have accounts with more than one bank?

Personally I find AIB's the more functional Internet Banking available, plus it's very easy to the transfers to the UK online with. Their telephone banking is also quite good. You can have accounts with more than one bank.

I will probably also sometimes want to cash sterling cheques, am I better of cashing them in the UK, then transferring the money over, or is it possible to cash them in Ireland without taking too big a fee hit?

You can lodge them in to your account. Fees depend, but I didn't find lodging my UK cheques into my Irish account too big an issue.

I've got a number of credit cards here, some of which I'll need to pay off, what will be the best method to take Euros from an Irish bank and pay them to a sterling card?

Transfer them to your UK bank account and pay onwards to your card from that

Can I transfer the sterling balance to an Irish card?

Unlikely. Even different branches of the same companies (Halifax UK/Ireland, RBS/Natwest/Ulster Bank) operate semi-independently from their UK parents.

How easy will it be for me to get an Irish Credit Card, if I've only just arrived in the country? It seems to me that you can't use Laser to make payments on websites.

Thanks for any guidance on these matters.

It may take a while to build up some credit record - just as in the UK. Depends on your bank of course. Exceptions are sometimes made for people with higher salaries and good jobs etc

Saracen

Thanks for the thorough reply.

Do I understand from this that there is no real benefit to choosing a bank with a UK brand, like Halifax?

What are the typical exchange rates applied for paying cheques (in £) into your account, and for transferring out?

The main point of interest to me is that the Euro took a pretty strong hit last week, so buying online, I guess, is a little more expensive these few days.

Saruman

To be honest i would consider Ulsterbank which is Natwest. The online banking is excellent and there are no fees and no real restrictions on fee free banking, unlike AIB and BOI.

Tazz T

Some UK credit card companies will let you keep you card with an irish address. I've had one for seven years. Not advisable at the moment tho considering the UK interest rate. MBNA offer UK to ROI credit card balance transfers but I wouldn't recommend MBNA. You can search boards for a few reasons why.

BuffyBot

Do I understand from this that there is no real benefit to choosing a bank with a UK brand, like Halifax?

Exactly.