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money transfer

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  • 15-01-2004 12:58am
    #1
    Guy:Incognito
    Registered Users Posts: 38,247 ✭✭✭✭


    anyone happen to know roughly how long it takes to tranfsfer money to an english bank? cheers


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    #2
    Blackjack
    Registered Users Posts: 3,611 ✭✭✭Blackjack


    Depends on the methods used.
    Telegraphic transfer will cost you, probably about 30 Euro (or more, I really have no idea, but that was the last price I heard), but should be there within 2 days.
    If you want to save some money, get a sterling Draft and get it lodged. The only charge you will have to pay is the issuance charge, which is less than the first option. This may take a bit longer with postage, processing, etc, but I can't imagine it would take that much longer, maybe a week at most.

    You could also send a Euro Cheque and hope that they don't screw you on
    1) the FX rate
    2) charges
    3) taking the piss with how long they say it will take to clear.


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    #3
    Victor
    Registered Users Posts: 78,370 ✭✭✭✭Victor


    Originally posted by Blackjack
    Telegraphic transfer will cost you, probably about 30 Euro (or more, I really have no idea, but that was the last price I heard), but should be there within 2 days.
    If you want to save some money, get a sterling Draft and get it lodged. The only charge you will have to pay is the issuance charge, which is less than the first option. This may take a bit longer with postage, processing, etc, but I can't imagine it would take that much longer, maybe a week at most.
    Bank of Ireland have two methods - same day (c. €30) and two day service (<€10).

    Bank drafts are being brought into disrepute by scammers, people losing them, etc.


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    #4
    Blackjack
    Registered Users Posts: 3,611 ✭✭✭Blackjack


    Bank of Ireland have two methods - same day (c. €30) and two day service (<€10).

    not quite - they charge a commission of 0.2% (minimum 8.60 euro, maximum about 36.60 Euro) which takes 3 days to transfer. Best they had on offer when I called today.
    Bank Draft (takes a few days to clear) costs 3.60, takes a few days to clear, but no more.
    This only covers the case where you have a Euro amount and want to FX to sterling - you will know the amount that you are to receive the other end.
    You can take you chances with transferring Euro to a UK bank a specific Euro amount without the specific GBP amount on the other end, but chances are that the UK bank will rape you with charges and spread etc.

    This is not a challenge, but if anyone is aware of a good way to transfer money to the UK I would be glad to hear it. I need to do the same shortly (depending on the exchange rate) so I would appreciate the info.


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