PTSB - Want to do an interntional bank transfer or wire to America

amdublin

Hi,

Want to transfer money via bank to America. They are calling it a wire transfer.

They have provided me the following details and instructions:
Credit to: Name of Bank
Address of bank

ABA Routing: 9 digit number

Account of: Name of company/bank account
Address of company

Account Number: 10 digit number
ABA Routing Number: 9 digit number
Swift Code: WFBIUS6S 6 letters, number, letter
Chips Code: 4 digit number


a) Is this what we call a Swift transfer????
b) How much will this cost to do?

c) They've also said: Be sure to include the wire transfer fee to your amount otherwise your payment will be short.
Can you explain this please?

d) Can I do this online or will need to go into ptsb?

Nervous Wreck

amdublin wrote: »

Hi,

Want to transfer money via bank to America. They are calling it a wire transfer.

They have provided me the following details aninstructions:
Credit to: Name of Bank
Address of bank

ABA Routing: 9 digit number

Account of: Name of company/bank account
Address of company

Account Number: 10 digit number
ABA Routing Number: 9 digit number
Swift Code: WFBIUS6S 6 letters, number, letter
Chips Code: 4 digit number


a) Is this what we call a Swift transfer????
b) How much will this cost to do?

c) They've also said: Be sure to include the wire transfer fee to your amount otherwise your payment will be short.
Can you explain this please?

d) Can I do this online or will need to go into ptsb?

Did one of these last year so, provided they haven't changed anything in that time, the answers are as follows:

a) Yep, it's Swift
b) €31.50
c) Include the price of the Swift transfer in the amount you send (i.e. if the receiving bank charges €5 to receive the payment and you're transferring €100, you need to send €105)
d) You need to go in to a branch (I didn't do it in my home branch so any branch should be fine)

Yggr of Asgard

You might be better off using something like transferwise/currencyfair/transfermate (to name a few) for this as it will save you money plus they way they deliver means there is on additional cost on the receivers end as they usually do this via ACH transfer.

If you want to do it via PTSB you need to go down to a branch (bring you debit card and id) and fill out a form to get it done, however even if you choose to cover all cost down the road the receiver might not get the full amount as the receiving bank might deduct their fee and hence the receiver does not get all the money they expect.

You really will be better off (less fee, better exchange rate and guaranteed amount) if you use transferwise/currencyfair/transfermate (to name a few).

amdublin

Thanks all

I've never heard of anything like the others. Are they physical branches or I can do it online??

amdublin

Hmm looks good.

But I think I'd have to go through all the money laundering etc so might just do first transfer through ptsb, will have to do some more later on so might set up account for that.

Delta2113

€31.50 is way too much. My Mother used this method of payment a few years ago. I recently did a u.s. payment online via BOI and it was €5.

JTMan

amdublin wrote: »

Are they physical branches or I can do it online??

You can make the transfer online using an FX currency broker such as Currency Fair.

amdublin

Spoke with helpful fella in ptsb.

Can do the swift for €31.50

But instead I am going to get a US dollar cheque for €3.50 and post it (reg post €6)

Thanks for your help all.