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What does credit union charge if i deposit dollars into a euro account

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  • 21-09-2023 1:44pm
    #1
    veryangryman
    Registered Users Posts: 5,532 ✭✭✭


    Cashing out some shares worth €4K in Euro but the shares are in dollar. Sending it to the credit union current account. Any idea what sort of rate they charge. If i cashed it out in Euro, Fidelity would charge 2.5% which sounds steep so i went with Dollar



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    #2
    coylemj
    Registered Users Posts: 25,340 ✭✭✭✭coylemj


    I'd first ask the CU if they will accept a dollar lodgement. Because if they reject it, the sender may apply additional charges. If the CU is prepared to accept a transfer in dollars, you're asking us what rate you'll get - every CU is different so you'll have to ask them.

    Either way, I'd avoid putting dollars through a CU. If you have a Revolut account, open a dollar account (just do a EUR=>USD transfer) and send the money to that account. Then convert the dollars to Euros (not at the weekend, they'll give you a crap rate because of hedging) and transfer the money to your CU account.



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    #3
    frank730
    Registered Users Posts: 114 ✭✭frank730


    check with your CU first, most of them only accept SEPA payments, they can't accept non euro currencies.



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