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cheapest way of transfering 14k dollars

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  • 18-06-2008 8:40am
    #1
    paddyman
    Registered Users Posts: 171 ✭✭


    Hey lads,

    Not sure this is the proper place but i need to send 14k dollars to my sister in the US. What would you's say from your experiences as the cheapest\safest way of done this.

    Money is in Euros right now so i'll be converting to $$ to send over.

    Thanks

    Paddy


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    #2
    The Rooster
    Registered Users Posts: 4,508 ✭✭✭The Rooster


    paddyman wrote: »
    Hey lads,

    Not sure this is the proper place but i need to send 14k dollars to my sister in the US. What would you's say from your experiences as the cheapest\safest way of done this.

    Money is in Euros right now so i'll be converting to $$ to send over.

    Thanks

    Paddy

    A couple of years ago I did an international bank transfer to an account in the US from my AIB account. You obviously need to have all the relevant numbers relating to your sister's bank account, and you'll need to go into your own branch to do it. I can't remember exactly how much it cost but no more than 50 euro as far as I remember, and may have been less.

    A dollar bank draft costs €31.50 in Permanent TSB, so I'd imagine most banks would be similar. But then you'd have to send it to the US, which obviously is not as safe as a wire transfer.


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    #3
    paddyman
    Registered Users Posts: 171 ✭✭paddyman


    That doesn't sound too bad, and would banks give you the full exchange rate on that day?


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    #4
    The Rooster
    Registered Users Posts: 4,508 ✭✭✭The Rooster


    paddyman wrote: »
    That doesn't sound too bad, and would banks give you the full exchange rate on that day?

    No. They all have buy rates and sell rates so they can earn a margin. Some may also charge an exchange fee in addition - this can be negotiable so make sure to ask them to waive and see what happens. Its an unfair fee IMO as they already earn their margin and get a fee for the wire transfer or bank draft or whatever.


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    #5
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    The Rooster wrote: »
    A couple of years ago I did an international bank transfer to an account in the US from my AIB account. You obviously need to have all the relevant numbers relating to your sister's bank account, and you'll need to go into your own branch to do it. I can't remember exactly how much it cost but no more than 50 euro as far as I remember, and may have been less.

    A dollar bank draft costs €31.50 in Permanent TSB, so I'd imagine most banks would be similar. But then you'd have to send it to the US, which obviously is not as safe as a wire transfer.

    31.50!!!! :eek: UB draft costs no more than 3.81, regardless of the amount. I'd not be paying that charge.
    paddyman wrote: »
    Hey lads,

    Not sure this is the proper place but i need to send 14k dollars to my sister in the US. What would you's say from your experiences as the cheapest\safest way of done this.

    Money is in Euros right now so i'll be converting to $$ to send over.

    Thanks

    Paddy

    Easiest way is electronic transfer via your own bank. You can book a rate to get a better deal. This is done on the day. Best to go into your own bank.

    Its a easy thing and very common these days. Bring you id with you too.


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