transferring money from UK bank to Euro account

moco

Does anyone know what is the cheapest way to do this? I have a nationwide account in the UK, and need to transfer money weekly into my BOI euro account. My bank account is saying the only way is a swift transfer costing £25 each time.

At the moment when I transfer money from my Euro account into UK account it's free.

Surely there is a cheaper way of doing it?

Strongbow10

Have the exact same problem, I think Swift is the only way to do it though

The best option would be to transfer a lump sum and get charged £25 once off, rather than repeatedly with smaller deposits.

wayfarers

Is there a charge when you do this transfer with online banking? £25 is extortionate.

Strongbow10

wayfarers wrote: »

Is there a charge when you do this transfer with online banking? £25 is extortionate.

you cannot do an online transfer to a foreign bank account as far as I know

Swift is the only way to go. With Nationwide anyways. I am with them myself and this was the information I received.

wayfarers

Strongbow10 wrote: »

you cannot do an online transfer to a foreign bank account as far as I know

Swift is the only way to go. With Nationwide anyways. I am with them myself and this was the information I received.

If OP or someone else were to physically take the money from the Nationwide account and lodge it in BOI would there be a charge other than currency conversion? I'm sure there are BOI branches in the UK.

moco

I don't know of any Bank of Ireland branches in the UK?

Just an update anyway, I'm going to open a Halifax account, as they said an online transfer will cost £9.50. So I'll transfer whatever amount I need from nationwide to Halifax which goes in instantly with no charge, then into my BOI account from Halifax.

daithijjj

moco wrote: »

I don't know of any Bank of Ireland branches in the UK?

Just an update anyway, I'm going to open a Halifax account, as they said an online transfer will cost £9.50. So I'll transfer whatever amount I need from nationwide to Halifax which goes in instantly with no charge, then into my BOI account from Halifax.

There are branches alright, and i have seen AIB branches as well but any of the ones i have visited do not have atm's and i think might only do business transactions and not personal accounts. Been a long time since i looked into it though, not sure if these branches even still exist.

Have you looked into exchanging your currency at the post office (uk). You can exchange currency there from euro to sterling and sterling back to euro (fee and commission free) just by using a receipt of purchase. Not sure how viable that is for you.

Limerick Rebel

I wonder if is possible to use a credit card. Transfer money into a Credit Card to give it a positive balance and then use the credit card in Ireland.

Ace2007

get an online wallet, deposit to that using lazer and then withdraw to you bank in uk (link that bank to the online wallet)

for example moneybookers have the following on website

What are the costs for transferring money to my own bank account abroad?
You only pay a maximum of €1.80 for sending money to your own bank account abroad when funded with bank transfer, one of our free of charge local payment options or with existing funds on your Moneybookers account. Some of our local payment option providers and credit card companies demand a processing fee for the usage of their payment network. Therefore, if you send money with a credit/debit card or one of our non-free local payment options, Moneybookers has to apply a small fee. Please have a look at our fee section here

moco

Ace2007 wrote: »

get an online wallet, deposit to that using lazer and then withdraw to you bank in uk (link that bank to the online wallet)

for example moneybookers have the following on website

There is no lazer in the UK. I need to get money from a sterling account to a euro account.

moco

Limerick Rebel wrote: »

I wonder if is possible to use a credit card. Transfer money into a Credit Card to give it a positive balance and then use the credit card in Ireland.

I'll be living in the UK. I need the money to move from my sterling account into my euro account to pay bills.

moco

daithijjj wrote: »

There are branches alright, and i have seen AIB branches as well but any of the ones i have visited do not have atm's and i think might only do business transactions and not personal accounts. Been a long time since i looked into it though, not sure if these branches even still exist.

Have you looked into exchanging your currency at the post office (uk). You can exchange currency there from euro to sterling and sterling back to euro (fee and commission free) just by using a receipt of purchase. Not sure how viable that is for you.

No UK Bank of Ireland branches are coming up on a google search.

Exchanging currency isn't the problem though, I need to transfer money into my euro account from the UK.

dobsdave

moco wrote: »

Does anyone know what is the cheapest way to do this? I have a nationwide account in the UK, and need to transfer money weekly into my BOI euro account. My bank account is saying the only way is a swift transfer costing £25 each time.

At the moment when I transfer money from my Euro account into UK account it's free.

Surely there is a cheaper way of doing it?

Have you thought about using a 3rd party company like currency fair or transfer wise?
There's a fair few threads on it already.

moco

Yea, I looked into it thanks, I think it'll work out cheaper to pay the £9.50 trandsfer charge in Halifax.