Money transfers

kdevitt

cooper38 wrote: »

Using currency.ie you don't have to send them money to their account and hope to get good rates.

Hope to get good rates? They offered a guaranteed rate you can lock in when transferring your cash. You can get rates matched off against individuals if thats what you want, its not the only way to transfer. In fact I've never matched against an individual, have always taken the currencyfair rate.

cooper38 wrote: »

Much easier I would think, you just call, book, send then

So how do they get your money to make the transfer over the phone? Are you saying you don't need to pay them somehow?

Think its great to see competition in the market, but you're obviously never used currencyfair and as such your posts seem to be pretty misleading.

kdevitt

Transfermate / currency.ie are also pretty sly about the rates they 'offer' on their main page.

If you check out the small print -

About this indicative rate
The following rates are interbank rates. This is the rate at which banks buy and sell money from each other. These rates are not available to private individuals or small to medium companies. They are therefore provided for indicative purposes only. For a quote please phone our team

irishmover

Anyone know how long it takes for currencyfair to give you full access to your account?

I've uploaded 2 proof of address and my passport yesterday (about 12 hours ago), also transferred some australian money into the account aswell, probably should have waited until my account was fully setup!

karl bracken

From what i can remember it was pretty quick maybe 3-4 days max

irishmover

karl bracken wrote: »

From what i can remember it was pretty quick maybe 3-4 days max

Yeh I got an email a while ago saying my account was active. Just waiting for te dollars to come through now!

Took approx 12 hours to get it active. Pretty quick.

Datotrunk

Hey guys, i've just opened my account with NAB online. They say i will get my account number etc. within 2 weeks, from experience how long does it actually take as i need it pretty soon.

Also can anyone tell me if their is a maximum amount of euro i can transfer at one time to my NAB account via currencyfair, can i transfer 10k in one go? cheers

irishmover

Datotrunk wrote: »

Hey guys, i've just opened my account with NAB online. They say i will get my account number etc. within 2 weeks, from experience how long does it actually take as i need it pretty soon.

Also can anyone tell me if their is a maximum amount of euro i can transfer at one time to my NAB account via currencyfair, can i transfer 10k in one go? cheers

With commonwealth so cant help you with anything NAB, but, from what my cousin has said transferring over 5k dollars = getting taxed. Might be worth your while to look into it a bit more. Not fact, just hearsay.

As for my first transaction with currencyfair, fantastic. Really was amazed. AUD:1000; Commonwealth -> Currencyfair - > BOI account I lost 5e on what they quote me (e812.50), which was much better than the bank (almost 3c/dollar better). Took roughly 5.5 days to complete transfer from combank to BOI.

Datotrunk

Ok so i have got my NAB account info and now have an account with them.

Just using BOI online banking to add the bank details that currencyfair have given me, they say im subject to transferring a daily maximum of 3,000 :mad:

Is it possible to make one transfer of a higher sum rather than having to make a few transfers due to his daily limit?

karl bracken

Yea just put it straight into my AIB and il send it over lol

Datotrunk

karl bracken wrote: »

Yea just put it straight into my AIB and il send it over lol

Send on your current account details so and i will do that, nothing else:rolleyes:

If i ring them shower of cun*s in the BOI would they be able to change the limit on transfers?

karl bracken

Yes, so say you think 1.30 Aus Dollars for 1 Euro is a good deal thats what you put in and its left as an offer. So you put in a 1000 or whatever and someone may or may not match it
Then someone agrees or it just sits there.

If the market is saying 1.20 Aus Dollars for 1 Euro and your offer is 1.30 you just hope the currency swings and someone takes it.

Mc1983

Do NOT use visafirst to transfier you're money to Australia !! Im just after finding out there's over $500 in a difference between them and currencyfair ! ... (this iS subject to the amount I personally changed And the rate visafirst did it at) I feel like I been robbed! I regret not using CurrencyFair.

bobbles87

Hi Guys,

I will be landing on Oz in 2 weeks (eeeeeekkkkkkkkk). I have set up an account with ANZ and also registered with currencyfair - seems like the best transfer agency to go with, from what I have read on here anyway! Just a quick question regarding amount, I was going to transfer €5000 over in the next couple of days.

I am just a bit concerned regards safety, would I be better to do this in 2 installments rather than just transferring out the whole lot?

Also, getting a bit nervous now. Plan is to look for work straight away when I go out, I know €5k isnt alot of money to be bringing with me. On the plus side, I will be staying with family until I get a job set up and find a room in a houseshare.....

Thanks

hussey

CF is very safe, lots of feedback from the 'Money transfer' thread. So don't worry about that, so it's up to you whether you think you might get a better rate, or you want the fall back of keeping a back up fund in Ireland.

I'll merge this thread with the main money transfer thread

bobbles87

Thanks for that Hussey.

My currencyfair account has been activated, so i am just looking for some advice.

I have added both my irish account and my anz account to my profile and I have selected to deposit in €5k from my BOI account to currencyfairs Bank of America account. Being BOI and being so crap, I cant add a payee to my internet banking without my mobile phone being activated - through which they send out the activation pin in the post - I mean what era are we living in FFS, I probs wont get it til I am gone.

Anyway, enough of the rant.

Question one - can I go into BOI tomoro to do a money transfer to Bank of America? Will this cost me loads??

Question 2 - once its in currencyfairs BOA account, how does it get transferred onto my ANZ account?

Question 3 - How long does this process usually take?

Question 4 - Any other advice?

I need it to be showing up in my OZ account within the next few days....AHHHHH stressed please help and thank you

hussey

bobbles87 wrote: »

Question one - can I go into BOI tomoro to do a money transfer to Bank of America? Will this cost me loads??

You can probably ring them and transfer over phone, should be free and much quicker

Question 2 - once its in currencyfairs BOA account, how does it get transferred onto my ANZ account?

You purchase Australian currency, then transfer it - there are several demos on the CF site

Question 3 - How long does this process usually take?

Mine took 4or5 days all in

Question 4 - Any other advice?

Don't get stressed, you won't need 5k when you land in Aus, also when you land and activate your anz account sign up for Internet banking (inc mobile security) ASAP sounds like will save you future time