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Living in Ireland but working for US company, getting paid in Dollars..

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  • 17-05-2010 10:03am
    #1
    SubLuminal
    Closed Accounts Posts: 438 ✭✭


    Hi Folks.

    So, I live in dublin but am contracted to a US company at the moment and I get paid in dollars. What is the best way to convert money from Dollars to euros? They're happy to pay me however I want, whats the best way for me to get paid? I've been doing IBAN into my irish account, but i'm losing about €30 on a $1300 transfer to fees and rates, seems quite high.

    Paypal was worse, got charged loads! to hell with that. Am thinking of opening a bank of america account, I see they have a branch here in dublin.

    Advice please?


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    #2
    star.chaser
    Closed Accounts Posts: 740 ✭✭✭star.chaser


    I'm with AIB and get charged €30 for accepting a monthly international transfer of only €150
    I'd imaging that you'll get caught with this charge with every bank although it may not be €30 with all.
    Think I heard a while back that it's €15 with some banks. Might be worth checking out...


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    #3
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Use an online fx broker such as www.xetrade.com to transfer from a US $ account to your € account
    They offer good rates within 2c of the mid-rate with no charges
    All fx brokers have stringent ID checks though


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    #4
    SubLuminal
    Closed Accounts Posts: 438 ✭✭SubLuminal


    Is XEtrade the best one? I've read some terrible reviews..

    Has anyone here got experience using them? Are they really much cheaper?


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    #5
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    SubLuminal wrote: »
    Is XEtrade the best one? I've read some terrible reviews..



    Has anyone here got experience using them? Are they really much cheaper?



    They have been mentioned on here a lot but no one every come backs to tell of their experience with them. If you decide to use them let us know how you get on.



    It does not inspired my confidence in them that if you type xe.com into google that the third recommendation is 'xe.com scam'



    One great thing for yourself now is the euro is weakened against the dollar it was trading retail about €1 to $1.19 dollars today about $1 to €.75



    If possible would a cheque work out cheaper if the company would issue you with one? Check the bank for the rates. The only thing is it may be cheaper but its slow.


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