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A non-resident bank account in Ireland and international money transfer??

  • 28-07-2015 2:09pm
    #1
    Achtung! Bono
    Registered Users, Registered Users 2 Posts: 85 ✭✭


    I live abroad but i have a fair few quid in a account with EBS that i wanted to transfer to a currency forex company in the UK. Unfortunately, EBS cannot transfer the money electronically as it is only a book account.

    I could get them to send a cheque and lodge it in my account abroad, but the fees for lodging foreign cheques are higher than if i used a currency trading company.

    I was wondering if i might be able to open a separate Irish bank account, get a friend to lodge a euro cheque from the EBS into the new bank account and electronically transfer it to a currency trading company, then finally into my Bank here?

    I have contacted nationwide Ireland, who told me that i need to be resident in Ireland. Is this the case with all Irish Banks? Anyone have any ideas how i might complete a transfer of Euro to a Forex company?


Comments

  • #2
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    Achtung! Bono wrote: »
    I live abroad but i have a fair few quid in a account with EBS that i wanted to transfer to a currency forex company in the UK. Unfortunately, EBS cannot transfer the money electronically as it is only a book account.

    I could get them to send a cheque and lodge it in my account abroad, but the fees for lodging foreign cheques are higher than if i used a currency trading company.

    I was wondering if i might be able to open a separate Irish bank account, get a friend to lodge a euro cheque from the EBS into the new bank account and electronically transfer it to a currency trading company, then finally into my Bank here?

    I have contacted nationwide Ireland, who told me that i need to be resident in Ireland. Is this the case with all Irish Banks? Anyone have any ideas how i might complete a transfer of Euro to a Forex company?

    AIB and BOI have 'talk to' forums on boards, might be worth asking them direct.


  • #3
    Achtung! Bono
    Registered Users, Registered Users 2 Posts: 85 ✭✭Achtung! Bono


    dobsdave wrote: »
    AIB and BOI have 'talk to' forums on boards, might be worth asking them direct.


    Thanks for that. I did call BoI, yesterday. I was told that i would have to have a 'working' account such as a deposit account, not an account i would only use occasionally.


  • #4
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    could you not transfer it to a family member and then get them to transfer to your fx company.......hope you are suing currency fair :-) for best exchange rates


  • #5
    Achtung! Bono
    Registered Users, Registered Users 2 Posts: 85 ✭✭Achtung! Bono


    I haven't got any family members..I did ask a few friends, but they were unable to help for various reasons (i think having an unexplained large amount of euros passing through their accounts freaked them out, but it's all legit)

    I posted the same question elsewhere and am going to try the suggestion that i open a euro account in a bank in the UK and then deposit euro cheque and transfer to currency dealer.

    I will look into currency fair, though i think ukforex seem to have the best rates..

    Thanks for your reply.


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