Transferring money from Ulster Bank abroad

Bubs102

I'm in China at the moment and for the forseeable future and have an Ulster Bank account back home. I didn't pay any attention to it because I had no money but I inherited a fair chunk of money two months ago and my Dad lodged it into my Ulster Bank account before telling me.

So I'm wondering how I can move it into an international bank, a chinese bank or if Ulster Bank has any way to keep it there and use it without spending a truck load in additional fees. The problem is I have to do this from China and Ulster Bank's prescence here is wanting

Jet Black

You'd need a bank account in China to get the money sent over. If you have one you should have a BIC and IBAN number which should be on the statement or you can get it from the bank. Ring Ulster banks telephone banking and see if they can do an internationl transfer if you confirm security questions. Fees may be involved with the recieving bank for currency exchange, commission and probably other charges. You'd have to check.

It may also depend on the account with Ulster. If its a savings account you may not be able to transfer money from it. Current account would be ok.

If you don't have an account the only other options would be atm withdrawl or if someone could transfer the money from Ireland and you could pay them back.

unclebill98

AN international transfer from your UB account will require a signed form.

Not easy. It's going online soon enough but if you can't wait call your branch and ask them to send a form to you. This will raise a lot of security issues, so it will not be quick.

It does not matter what account type it's in either.

Another way is to get an ATM card. If you have not order it but check what address its getting sent to. Then get someone to send it to you. You'll need to have an account that allowsmfor a ATM card too.

Bubs102

Thanks guys. What about HSBC. They have branches in Dublin and here and would it be easier to open up an account here and have a proxy switch the money between the two. For example. If I close my account I'll get a check delivered to my home address or something like that with the cash and then could my dad or Sister not just drop it in for me.

I know nothing about the account type. I signed up for it 5 years ago in UCD for a free 100 quid but I reckon it's a current account.

My ATM card was out of date and my wallet was stolen anyway so it's moot. Anyway, they kill you with charges.

I have a chinese bank account and there is an IBAN or a BIC number but not both. I remember this was a problem before

unclebill98

You have a harder time opening an account from there than sending a foreign transfer.

The max UB will charge for the transfer would be €44.44 there may be other charges on the other end.

colm.ims

I live in Vietnam and had a similar issue through Bank of Ireland. It's not that difficult. I phoned BOI and told them I wanted to transfer money from Ireland to my account in Vietnam. It's with a Vietnamese bank as BOI have no presence here.

They, just like Ulster bank require that you send them a letter requesting the transaction, signed and dated by you. As i live over here, I was unable to do so... What i did is a little unorthodox but worked perfectly. I typed the letter in Word asking the bank to transfer X amount of Euro, providing all the bank details (banks here dont have IBAN but do have a similar code and SWIFT code).

I emailed the original letter (unsigned) to my sister along with a copy that I signed and scanned. She printed both out and traced my signature onto the unsigned copy.

She then put it into an envelope addressed to BOI- Foreign Exchange and dropped it into the local branch. 2 days later the transfer was effected.

I have done this a few times since and has worked every time

Good luck

EDIT: with regards to charges, for a 20,000 euro transfer I only paid about 60 euro in total, another transaction of 5,000 cost 15 euro...... although I'm sure it varies from bank to bank.....