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

veryangryman

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

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.

frank730

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