Receiving bank transfers in sterling

Dodge

Can any point me in the direction of fees for sterling payments into an Irish bank account?

Money will be transferred once a month. Small amount roughly £200

Toots

Which bank are you with?

Dodge

Sorry, PTSB but if BOI are cheaper I can use an account there

Toots

Here's the link to the BOI list of charges. It looks to be €5. I can't find anything on PTSB though, so I'd say give them a ring.

JTMan

Dodge wrote: »

Can any point me in the direction of fees for sterling payments into an Irish bank account?

Money will be transferred once a month. Small amount roughly £200

You are best off using an online currency broker, such as Transferwise, or Revolut to do the FX. Default bank FX rates are a ripoff.

Quackster

I would recommend setting up a Monese account - it's free. Just download the app and away you go. You get a UK bank account number and you can use this to receive sterling payments.

You can then use the likes of Currency Fair or TransferWise to convert into Euro and transfer to your Irish account. Or if you have a Revolut account, you could load that from your Monese account and convert to Euro using it instead.

Matt Bauer

I recommend opening an account with Fire, an Irish startup bank licensed by the central bank. They're great for people who need to handle both sterling and euro, as you get both a sterling and euro bank account with them with unique account numbers. There aren't any maintenance fees, but for business accounts you pay 0.49 per transaction.