New York

tsloa1980

I'll be goin to new york soon and am wondering if i'm getting paid by cash in hand there is it possible to lodge this in your own bank back home, for example: lodge it in the Bank of Ireland in New York if there is one.

murphym7

Don't know about that, but Western Union would work if you have somone on this side to collect it and lodge it in your account at home.

ProudDUB

Bank of Ireland does have an presence in the US, to facilitate its business transactions there, but it does not have branches that Irish account holders can walk into and deposit funds into.

Western Union is an option, but their fees can be high, and they go up/down up depending on how much money you are sending.

If you are working legally in the US, you can open a US bank account & deposit your pay into that. If you then sign up for online banking with your US and Irish banks, you can transfer funds between the two accounts in the two countries very easily. It takes 2-4 working days usually, and the fees are not mega high. Make sure that you sign up for it before you leave, as Bank of Ireland will post you out passwords and pin numbers that you will need before you can access your account online.

Another option is to convert your cash into an international money order/bank draft in euros. Then post it back to Ireland for someone here to deposit in your account for you. Send it via registered mail to minimize the risks of it getting lost in the post.

Btw, if you edit your thread title to something more descriptive than just "New York", you'll probably get more responses.

tsloa1980

Thanks! Can't edit though above post though

ProudDUB

You can. Click on Edit. Then click on the Go Advanced tab. That will give you the option to change the title of your original post.

clairefontaine

ProudDUB wrote: »

Bank of Ireland does have an presence in the US, to facilitate its business transactions there, but it does not have branches that Irish account holders can walk into and deposit funds into.

Western Union is an option, but their fees can be high, and they go up/down up depending on how much money you are sending.

If you are working legally in the US, you can open a US bank account & deposit your pay into that. If you then sign up for online banking with your US and Irish banks, you can transfer funds between the two accounts in the two countries very easily. It takes 2-4 working days usually, and the fees are not mega high. Make sure that you sign up for it before you leave, as Bank of Ireland will post you out passwords and pin numbers that you will need before you can access your account online.

Another option is to convert your cash into an international money order/bank draft in euros. Then post it back to Ireland for someone here to deposit in your account for you. Send it via registered mail to minimize the risks of it getting lost in the post.

Btw, if you edit your thread title to something more descriptive than just "New York", you'll probably get more responses.

Are you sure about that?

Many US banks charge hefty fees for receiving foreign currency.

Also, I once purchases a hefty bank draft in the US and I was 100% assured it would be treated as cash and guess what, it took NINE, yes NINE weeks to clear in an Irish bank.

Best thing to do is open a US account and then paypal yourself the money to your Irish account.

dave2pvd

clairefontaine wrote: »

Are you sure about that?

Many US banks charge hefty fees for receiving foreign currency.

Also, I once purchases a hefty bank draft in the US and I was 100% assured it would be treated as cash and guess what, it took NINE, yes NINE weeks to clear in an Irish bank.

Best thing to do is open a US account and then paypal yourself the money to your Irish account.

^ That's what I did last time I had to send money home.

I was shocked to find that Paypal was cheaper than my bank and around the same price as Western Union. The bank exchange rate for a transfer was awful. Fees charged at both ends. WU on the other hand were cheaper than the bank, however WU branches in Ireland are very scarce. WU can be sent to a bank account, but again, this hits you with more fees.

See if you can open this for an example of WU fees:

WU Send Money Calculator


Edit: It looks like An Post now have an agreement with WU. May make it more practical as an option?

ProudDUB

When I did bank to bank international transfers, the fees were about 20 bucks per transaction. My US bank didn't charge a transaction fee (due to the type of account I had with them) but my Irish one did.

tsloa1980

I think the edit tab gets removed after a while for some reason.

I think I got a more efficient way to bank it. Lodge money into a Financial Trading Broker by the following methods which are possible.

paypal
skrill
neteller
webmoney
western union
money gram
wire transfer

Link the the broker account with paypal and paypal with the bank account. This seems to work for me in my plans unless proven wrong and also has a potential investment opportunity.