how much does it cost to do an EFT to another account

thebourke · 12-05-2011 4:11pm #1

i want to transfer money from my aib account to set up a savings account with uk nationwide.
Is there a charge for this to do this by EFT?

unclebill98 · 12-05-2011 4:56pm

Yes, varies from bank to bank.

Pablo Sanchez · 13-05-2011 7:05am

With BOI you get free banking if you do 9 internet transactions per quarter and fulfill some other conditions, so it can be free too.

unclebill98 · 13-05-2011 8:33pm

Pablo Sanchez wrote: »

With BOI you get free banking if you do 9 internet transactions per quarter and fulfill some other conditions, so it can be free too.

Op is asking about transfers not account charges.

Pablo Sanchez · 13-05-2011 8:35pm

unclebill98 wrote: »

Op is asking about transfers not account charges.

He asked if there are charges for doing EFT's, and i advised that there is not with BOI, you say there is with AIB, fair enough.

unclebill98 · 13-05-2011 8:45pm

Are boi letting you do free eft to foreign countries?

dotsman · 13-05-2011 9:04pm

BOI insinuate that there is a charge for EFT, regardless of free banking. I can't say for sure as it's been a long time since I had a BOI account.

BOI T&C's wrote:

You will be advised of the Bank of Ireland charge for your international payment on the confirmation screen, before you authorise each transaction with your 365 PIN. This charge is in addition to the relevant current account transaction fee, if applicable.

As for AIB, it is free to do a standard Euro payment. However, if you want the payment to be urgent, or pay out of your account in a foreign currency, then there are charges.

Pablo Sanchez · 13-05-2011 9:09pm

If OP has a Nationwide UK Ireland savings account then it would be a euro transaction to an Irish Bank account.

unclebill98 · 13-05-2011 9:15pm

The transfer would still be a foreign transfer not a euro one.

Pablo Sanchez · 13-05-2011 9:20pm

Nationwide UK Ireland is regulated by the FSA in the UK, but they are authorised to carry out banking activities in the republic and their accounts are denominated in Euro, its not an international or fx transaction.
http://www.nationwideuk.ie/savings.asp

unclebill98 · 13-05-2011 9:23pm

Ok, the op does not make it clear if it's going to be in a savings account in the uk. If it's ireland then it would be free other wise there would be a charge.

Dotsman makes the same assumption.

thebourke · 16-05-2011 2:30pm

its this account...
http://www.nationwideuk.ie/savings/12monthfixedrateaccount.asp

dotsman · 16-05-2011 6:40pm

Um, that's a euro account held by an Irish bank. Nothing foreign about that. All domestic transfers are naturally free*

One thing though, that particular account can't have money deposited (electronically or otherwise), once it is set up, so I'm not sure why you want to be able to EFT to it.

*I assume you have free banking.

schoolhouse · 16-05-2011 8:32pm

go to aib.ie and look up international payments. you cant download the forms there to transfer funds as euro or sterling. charges depend on type of transfer from 75 cent to €25.00. if you have online banking and the swift and IBAN numbers for the uk account do it yourself.:P

how much does it cost to do an EFT to another account

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