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Fastest/cheapest way to transfer money from ireland to uk

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  • 28-04-2008 11:07am
    #1
    ronano
    Registered Users Posts: 3,142 ✭✭✭


    This may be the wrong forum and if so i apologise but i couldn't see where else it would fit. I need to transfer money from Ireland to the Uk,450-500 euro worth but a bank account cannot be involved.

    Ideas?


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    This sounds dodgy.

    Fly over with the money. Western Union.

    Why can an account not be used?


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    #3
    ronano
    Registered Users Posts: 3,142 ✭✭✭ronano


    charges etc will be coming out of the account and im proper broke,id rather pay more charges in a month when i have cash than now. I know it's not a positive situation situation but i need food. I'll probly go the way of western union


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    #4
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    A bank transfer WILL be alot cheaper than Western Union.


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    #5
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    www.ryanair.com


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    #6
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    random wrote: »
    www.ryanair.com

    you just could'nt resist....

    Well, I've seen some f/x transfers cost close to 40euro... :rolleyes:


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    #7
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    unclebill98 wrote: »
    you just could'nt resist....

    Well, I've seen some f/x transfers cost close to 40euro... :rolleyes:
    You can get there for less than a tenner, where do you need to send the money to in the UK?


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    #8
    Athina
    Closed Accounts Posts: 50 ✭✭Athina


    I transfer money regular via my AIB internet banking a/c to an account in London. Can you give the money to a friend who could transfer it over for you through their bank a/c?. A bankers draft is dodgy as if it gets lost in the post as you are only covered for 30 euros even if you register it.

    ps. it will only cost you 75 cents if you transfer it via internet banking once you have the IBAN number and it normally takes two to three days to get through. I wouldn't bother with Wstern Union, they fierce expensive.


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    #9
    star01
    Closed Accounts Posts: 12 ✭star01


    Athina wrote: »
    I transfer money regular via my AIB internet banking a/c to an account in London. Can you give the money to a friend who could transfer it over for you through their bank a/c?. A bankers draft is dodgy as if it gets lost in the post as you are only covered for 30 euros even if you register it.

    ps. it will only cost you 75 cents if you transfer it via internet banking once you have the IBAN number and it normally takes two to three days to get through. I wouldn't bother with Wstern Union, they fierce expensive.

    Athena, that sounds like a good option, do most Irish banks allow you to transfer online for such low fees? I was thinking of transferring money from my Irish account to a UK account and vice versa and was also wondering the best and cheapest way.


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    #10
    GerardKeating
    Registered Users Posts: 7,650 ✭✭✭GerardKeating


    ronano wrote: »
    This may be the wrong forum and if so i apologise but i couldn't see where else it would fit. I need to transfer money from Ireland to the Uk,450-500 euro worth but a bank account cannot be involved.

    Ideas?

    What part of the country are you in, if you are in Dublin, you could be in Newry in 90 minutes and find a branch of the bank you need to send the money to and lodge it there..


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    #11
    in the pub
    Registered Users Posts: 49 ✭in the pub


    Hi Gerard,

    What do you mean go to Newry...whats in Newry?

    Thanks


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    #12
    GerardKeating
    Registered Users Posts: 7,650 ✭✭✭GerardKeating


    in the pub wrote: »
    Hi Gerard,

    What do you mean go to Newry...whats in Newry?

    Thanks

    Newry is a town "up north". A Bank there is part of the UK banking system, so instant transfers to any UK account.


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    #13
    in the pub
    Registered Users Posts: 49 ✭in the pub


    Ah i see, thanks for clearing that up!

    On the same subject, do you think that if i transfered money from an Irish bank into a bank in the North, would i get a more favourable exchange rate than if i transfered into an English bank.

    I have to pay around 3000e a month into a sterling account as I have loans and a mortgage in England and trying to find the best way of doing it.

    Thanks for your help


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    #14
    Blackjack
    Registered Users Posts: 3,611 ✭✭✭Blackjack


    in the pub wrote: »
    Ah i see, thanks for clearing that up!

    On the same subject, do you think that if i transfered money from an Irish bank into a bank in the North, would i get a more favourable exchange rate than if i transfered into an English bank.

    I have to pay around 3000e a month into a sterling account as I have loans and a mortgage in England and trying to find the best way of doing it.

    Thanks for your help

    I seriously doubt it would make any difference to the exchange rate whether the account was in NI or in England.

    That's a heck of an amount to have to pay each month by the way. If you can build up a lump sum (over 25 K BOI quoted me) and then book an exchange then you could save a bit on the commission.

    I've also been told that www.hifx.com are pretty good, but you need to be looking at a minimum of 5000 (Sterling as opposed to Euro I think) before they'll book for you. I've not used them myself, but was referred to them by a Financial Advisor who moved here from the UK.


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    #15
    in the pub
    Registered Users Posts: 49 ✭in the pub


    Hi Blackjack, thanks for the info. Will definitly look into both of the options you describe.

    I think, as you mentioned, the exchange rate will not change much whether i transfer in to a NI bank or English bank. But what I am trying reduce is the charges and commission etc. applied by the banks. After enquiring with a few of the English banks, i've found that the commission and fees do vary-some even charge nothing.

    Also what i'm trying to find out is do the exchange rates vary a lot between banks? And how could I compare these rates they use-is it just a matter of calling each bank up and getting a figure all on the same day to compare?

    Yes as you mention it is a lot of money to be sending over but its not too bad these days with the strong Euro so doesn't hurt too much-at the moment!


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    #16
    Blackjack
    Registered Users Posts: 3,611 ✭✭✭Blackjack


    in the pub wrote: »
    Hi Blackjack, thanks for the info. Will definitly look into both of the options you describe.

    I think, as you mentioned, the exchange rate will not change much whether i transfer in to a NI bank or English bank. But what I am trying reduce is the charges and commission etc. applied by the banks. After enquiring with a few of the English banks, i've found that the commission and fees do vary-some even charge nothing.

    Also what i'm trying to find out is do the exchange rates vary a lot between banks? And how could I compare these rates they use-is it just a matter of calling each bank up and getting a figure all on the same day to compare?

    Yes as you mention it is a lot of money to be sending over but its not too bad these days with the strong Euro so doesn't hurt too much-at the moment!

    I use Bank of Ireland (365online) to transfer money, can be a bit of a rip off as regards rates etc, but it's safe and convenient. There have been occasions of additional charges, which I have queried (about 6 GBP) but for the convenience of this I'm willing to risk it, and the amount's I've paid have been enough for the 6 quid to be a small enough risk.


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