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Sending money to America

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  • 26-01-2007 8:56pm
    #1
    The_Bullman
    Registered Users Posts: 1,997 ✭✭✭


    I have to send money on a regular basis(weekly/monthly) to America.

    Has anyone got a clue of the best/cheapest/handiest way to do this.

    From my(limited) research bankdraft was the cheapest for me. And I'm not going to consider western union(too pricey)

    I was hoping to setup a standing order but apparently this can't be done. Anyone got any ideas?


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    #2
    mcaul
    Closed Accounts Posts: 1,493 ✭✭✭mcaul


    If its someone you know well try this -

    Set up a new bank account (one of the no fee ones) and get a laser card for it. - Give the laser card & pin number to the person in the states and every week / month you deposit €uro into the bank account and they can withdraw it in US$ with a better exchange rate than the bank give and with no delays.


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    #3
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    If they have a paypal account, you could use that.


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    #4
    The_Bullman
    Registered Users Posts: 1,997 ✭✭✭The_Bullman


    mcaul wrote:
    If its someone you know well try this -

    Set up a new bank account (one of the no fee ones) and get a laser card for it. - Give the laser card & pin number to the person in the states and every week / month you deposit €uro into the bank account and they can withdraw it in US$ with a better exchange rate than the bank give and with no delays.

    Wouldn't there be large enough charges on each withdrawl? And what damage could a person do to the bank account with the card?


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    #5
    The_Bullman
    Registered Users Posts: 1,997 ✭✭✭The_Bullman


    dotsman wrote:
    If they have a paypal account, you could use that.

    Can you setup paypal to be automated? Like a standing order?


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    #6
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭Ruu_Old


    The_Bullman wrote:
    Can you setup paypal to be automated? Like a standing order?

    Not sure but there might be hefty fees for sending money over, having to convert it from euro to dollars and other Paypal fees.
    Setting up a bank account, you'll pay fees of some sort or another, especially with an ATM card. The government duty every year.


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    #7
    mcaul
    Closed Accounts Posts: 1,493 ✭✭✭mcaul


    The_Bullman wrote:
    Wouldn't there be large enough charges on each withdrawl? And what damage could a person do to the bank account with the card?


    That's why I say "if its someone you know well"

    Bank charges are usually about 2.5% of the transaction value but you get good exchange rates in exchange.

    Paypal looks to be best option though.


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