PTSB - Charge on receiving dollars into Euro account

MikeCairo78

Hi There, hoping someone might know, as PTSB(call centre / online messages) cant seem to confirm, is there a charge for receiving US dollars to a Euro account(I am sure there is, just I can seem to locate it) I know they will give themselves a favorable rate just trying to ascertain

Yggr of Asgard

Don't do it, you will be way better off to use wise/revolut etc. to receive that money and convert it there.

PTSB actually uses Citibank in the background for transfers and depending on how the SWIFT transfer is initiated either the sender takes the cost, or you might be charged fees by each bank (including Citibank) that touches the payment during its transfer.

PTSB also takes up to 6% currency spread when converting your USD to EUR depending on the day.

31.50€ also seems to be the fee associated with non-EUR transfers (but the T&C are a little vague if this is outbound only or also inbound).

Have a look at wise/revolut etc., you save yourself a lot of money.

realdanbreen

I do know that PTSB will not for example exchange Sterling for you even if you have an account with them. BTW where can one exchange a small amount of Sterling?

homer911

https://www.boards.ie/discussion/comment/122652320#Comment_122652320

You may be able to do this in a Post Office, certainly your bank should be able to do it. Otherwise if in Dublin go to Fexco on Westmoreland St

realdanbreen

https://www.boards.ie/discussion/comment/122652395#Comment_122652395

No apparently my own bank PTSB can't do it because they don't have a clearing section or something.

Yggr of Asgard

PTSB has stopped offering physical currency exchange in 2021!

Same for the post office, they don't do cash currency anymore either.

MikeCairo78

https://www.boards.ie/discussion/comment/122652301#Comment_122652301

Thanks so much - I have a Revolut account and didnt even consider this as an option - thanks so much !

realdanbreen

An post will give out foreign currency but won't take it back!