Sterling Account - Options

Vurnon San Benito

Had a look through the archives, but didn't anything that definitively answered my question.

What are the best options for receiving money from UK.
Sending from an English account to an Irish one incurs pretty extxraordinate fees, and I was wondering what is the best way avoid such high fees?

BOI offer sterling accounts, but what do I need to open one, and what charges would I likely face when receiving money from British account?

Ultimately, what is my best option for receiving sterling from an English account, to an account based in the republic?

cheers

Gee_G

Doocey wrote: »

Had a look through the archives, but didn't anything that definitively answered my question.

What are the best options for receiving money from UK.
Sending from an English account to an Irish one incurs pretty extxraordinate fees, and I was wondering what is the best way avoid such high fees?

BOI offer sterling accounts, but what do I need to open one, and what charges would I likely face when receiving money from British account?

Ultimately, what is my best option for receiving sterling from an English account, to an account based in the republic?

cheers

When you say BOI Offer Sterling account, no you mean you open a Northern BOI account? If so, I opened one a couple of years back when I was working up there. And they looked for details of my work up there and national insurance number(I think). I'm not 100% sure about what sort of charges but I used to just do an International transfer through 365online to my southern account and vice versa.

G-Money

Just an FYI, I have a sterling Bank of Ireland account up home and I'm not able to transfer money to my southern Euro bank of Ireland account online. For some reason the sterling Banking 365 site does not offer international payments whereas the euro one does.

I'm going to phone the branch tomorrow to see if there's any way to transfer money to my account down here without having to take a day off work and travel home to go do it face to face!

skippy2

Not sure if this is what you are looking for, but Currency Fair can help in avoiding bank fees, you can transfer your sterling to CF and then exchange at a favorable rate on CF and then transfer your Euro to an Irish account

Gee_G

G-Money wrote: »

Just an FYI, I have a sterling Bank of Ireland account up home and I'm not able to transfer money to my southern Euro bank of Ireland account online. For some reason the sterling Banking 365 site does not offer international payments whereas the euro one does.

I'm going to phone the branch tomorrow to see if there's any way to transfer money to my account down here without having to take a day off work and travel home to go do it face to face!

Sorry OP,maybe my mistake. I was 100% sure I did transfers both ways(it was a couple of years ago). That's a bit ridiculous that you can't do them from your Sterling account.

Vurnon San Benito

Cheers lads.

G-Money

Gee_G wrote: »

Sorry OP,maybe my mistake. I was 100% sure I did transfers both ways(it was a couple of years ago). That's a bit ridiculous that you can't do them from your Sterling account.

It could well be the case that it was possible, I just know I couldn't do it yesterday and when I phoned up Banking 365 they told me you couldn't do the international transfer from the sterling account. A bit stupid seeing they offer it from euro accounts! :mad:

JTMan

(1) Set up a GBP account with KBC. They offer the best GBP rate out of Irish banks.

(2) When converting from GBP to EUR use an online currency broker and not a bank. For example, Currency Fair.

ardmacha

(1) Set up a GBP account with KBC. They offer the best GBP rate out of Irish banks.

(2) When converting from GBP to EUR use an online currency broker and not a bank. For example, Currency Fair.

This is excellent advice.

Otherwise, Dankse Bank offered a reasonable deal for cross border transfers, maybe open an account in the North with them and a Euro A/C also.

G-Money

Anyone here used Currency Fair? Are they safe/reliable?

Is it possible to transfer money from a BOI sterling account online to them?

skippy2

yes use them regularly never had any problems
You can transfer money to them from any bank account