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Sterling draft from BOI

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  • 31-12-2007 2:46pm
    #1
    muffinhead
    Registered Users Posts: 530 ✭✭✭


    I want to send a few thousand sterling to someone in the UK from my euro bank account, which is with Bank of Ireland. I'm a bit unsure about using the online transfer as I have heard some people have incurred additional fees and the exchange rate has varied.

    Has anyone any experience of using sterling bank drafts as payment? What are the exchange rates like offered by the bank? And how much do Bank of Ireland normally charge for this sterling drafts?


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    #2
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    IMO, drafts have lost their gilt edge image due to the ease with which they can be forged.
    they cost 2.20 euro in BOI

    go the online route, the all in cost of the transaction, including your time spent queueing for the draft will be less.
    You then have to post it, prolly registered, etc and you have to hope it gets to the other end and then the receipient has to bring it to the bank etc.

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    The Bank of Ireland has become aware of a scam currently being carried out by various groups of international fraudsters. This involves victims being contacted by email in which they are advised that they have won the Lottery (...any lottery, it doesn't matter which one). No ticket purchase was necessary - according to the scammers. The victim is encouraged to pay a fee before the 'winning' lottery cheque is handed over. This scheme is a FRAUD. Do not become involved. The copy cheques and bank drafts, circulated by the criminals are WORTHLESS. Many appear to be for hundreds of thousands and in some cases millions of Euro - we repeat, these items are worthless.


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    #3
    gary the great
    Closed Accounts Posts: 2,665 ✭✭✭gary the great


    Probably best of doing it through xetrade.com
    thats if your transferring a large amount into another bank account.


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    #4
    Sangre
    Registered Users Posts: 12,167 ✭✭✭✭Sangre


    Check how long a sterling bank draft takes to clear in BOI before going down this route. A swift transfer will be much quicker but probably more pricey, around 30e, as you are going from sterling to the euro zone. Well, this is the case vice versa.


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