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Best way to send money for UK car?

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  • 04-08-2020 9:32am
    #1
    weekaizer
    Registered Users Posts: 613 ✭✭✭


    So everyone I need to send £13500 to a main UK dealer. With bank of Ireland. I have been thinking of using revolut or transferwise but which is the best does anyone know?. Can the whole amount be sent as one or is there daily limits?. I currently have a Revolut standard plan, do I need to upgrade it to send a larger amount?.
    I only downloaded transferwise app last night and haven’t used it yet. Any advice would be welcome thanks.


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    #2
    User1998
    Registered Users Posts: 5,829 ✭✭✭User1998


    With Revolut you need to transfer the money from your BOI account to Revolut, then upgrade to premium, exchange Euros to Pounds for free, send the Pounds to the dealer, and then cancel your premium plan if you want and you’ll get your €8 back or whatever it is. The dealer should get the full amount the moment you send it and you can send it all in one transaction


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    #3
    weekaizer
    Registered Users Posts: 613 ✭✭✭weekaizer


    User1998 wrote: »
    With Revolut you need to transfer the money from your BOI account to Revolut, then upgrade to premium, exchange Euros to Pounds for free, send the Pounds to the dealer, and then cancel your premium plan if you want and you’ll get your €8 back or whatever it is. The dealer should get the full amount the moment you send it and you can send it all in one transaction

    Thanks so much, There’s a daily limit of 10k with transferring with BOI. Not very straight forward. I will upgrade my revolut account.


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    #4
    weekaizer
    Registered Users Posts: 613 ✭✭✭weekaizer


    Tried using revolut. There is a daily limit with them also. I couldn’t even transfer 8000€ despite upgrading to premium from standard.


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    #5
    User1998
    Registered Users Posts: 5,829 ✭✭✭User1998


    I transferred £17k with Revolut only last month


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    #6
    beans
    Registered Users Posts: 1,885 ✭✭✭beans


    CurrencyFair worked for me, transferring a sum between a UK and Irish account. Saved a bunch on fees.


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    #7
    SummerK
    Registered Users Posts: 381 ✭✭SummerK


    Revolut and Transferwise have pretty much similar fee for conversion. Revolut is on slightly cheaper as you get 6000 euro free conversion every month. I used transfer wise to transfer over 29K £ last month as I was able to lock good conversion rate and it was seamless.


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    #8
    oinkely
    Registered Users Posts: 945 ✭✭✭oinkely


    I used transferwise for four cars and revolut for one. Revolut marginally easier as i didn't have to go near a bank, but the car in question was cheap enough that it was under their sterling tranfser limit

    Transferwise also really easy, with one visit to my bank to organise the sepa transfer. On each occasion the teller in the bank offered to do the transfer to the sterling account on my behalf, and on each occasion it would have cost at leas €250 euro more to go with them. Turned down their kind offer despite their concerns that transferring to Estonia might not be legit and coughed up the €0.50 fee. Money arrived in sellers account same day for each of the four transactions.


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    #9
    PaulKK
    Registered Users Posts: 2,279 ✭✭✭PaulKK


    Just top up revolut with your bank of Ireland visa debit. 25k daily limit. It's instant, why bother waiting for a sepa transfer.


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    #10
    chalky_ie
    Registered Users Posts: 302 ✭✭chalky_ie


    CurrencyFair give excellent rates, and they are based in Dublin, so you can talk to someone easily if you're having any issues. I used it when buying from BMW UK and it was seamless.


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    #11
    9935452
    Registered Users Posts: 2,749 ✭✭✭9935452


    SummerK wrote: »
    Revolut and Transferwise have pretty much similar fee for conversion. Revolut is on slightly cheaper as you get 6000 euro free conversion every month. I used transfer wise to transfer over 29K £ last month as I was able to lock good conversion rate and it was seamless.

    That 6k free conversion every month is now 1k . Then 0.5 percent after


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    #12
    SummerK
    Registered Users Posts: 381 ✭✭SummerK


    9935452 wrote: »
    That 6k free conversion every month is now 1k . Then 0.5 percent after
    Just checked and I see 6000 free conversion limit in my account. Not sure if this is right or wrong :D


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    #13
    9935452
    Registered Users Posts: 2,749 ✭✭✭9935452


    SummerK wrote: »
    Just checked and I see 6000 free conversion limit in my account. Not sure if this is right or wrong :D

    Mine is showing that too.
    The changes were meant to be taking effect on august 12
    https://www.bonkers.ie/blog/banking/revolut-to-introduce-new-fees-and-charges-for-customers/


  • Options
    #14
    ClutchIt
    Registered Users Posts: 709 ✭✭✭ClutchIt


    User1998 wrote: »
    With Revolut you need to transfer the money from your BOI account to Revolut, then upgrade to premium, exchange Euros to Pounds for free, send the Pounds to the dealer, and then cancel your premium plan if you want and you’ll get your €8 back or whatever it is. The dealer should get the full amount the moment you send it and you can send it all in one transaction

    Thanks for this. The person I am buying from in UK does not use Revolut. Can I still send to his bank account through Revolut?


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