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Closing UK bank account and transferring sterling to Irish bank account

  • 20-04-2015 5:24pm
    #1
    howdoyouknow
    Registered Users, Registered Users 2 Posts: 259 ✭✭


    I've had fixed term savings bond in a UK bank which has run it's term. I now want to close this account and lodge the money (circa 15000 sterling) into my Irish bank account.

    What is the best way for me to do this to get the best exchange rate and with the least bank fees?

    Any help or advice greatly appreciated.


Comments

  • #2
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Use Nationwide UK Ireland. I have a savings account with them and I asked them why they offer a GBP current account. They said its popular for people working in the UK to transfer money to their Irish Euro account, as it offers the best rates.

    Currencyfair is another excellent opinion. Their rates almost match the official market ones.


  • #3
    physioman
    Registered Users, Registered Users 2 Posts: 1,239 ✭✭✭physioman


    hfallada wrote: »
    Use Nationwide UK Ireland. I have a savings account with them and I asked them why they offer a GBP current account. They said its popular for people working in the UK to transfer money to their Irish Euro account, as it offers the best rates.

    Currencyfair is another excellent opinion. Their rates almost match the official market ones.

    +1 for currency fair. Cheap and quick. Just go on their website and type in the amount and will will give you the live rate. My sister exchanges sterling to euro with them all the time


  • #4
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    hfallada wrote: »
    I have a savings account with them and I asked them why they offer a GBP current account

    Nationwide UK (Ireland) do not offer GBP current accounts.
    hfallada wrote: »
    They said its popular for people working in the UK to transfer money to their Irish Euro account, as it offers the best rates.

    Huh? If a UK resident wants to transfer GBP to EUR into an Irish account they are far better off using an online currency broker.


  • #5
    howdoyouknow
    Registered Users, Registered Users 2 Posts: 259 ✭✭howdoyouknow


    Thanks everyone for all your suggestions. Looks like the online currency brokers are the way to go. Just a matter now of seeing which has the best rate on the day.


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