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Transfer Money from ROI Account To NI account with ulster Bank.

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  • 13-03-2012 10:17am
    #1
    Bummer1234
    Registered Users Posts: 1,846 ✭✭✭


    Hi All,

    Just a quick question,
    Is it possible for me to tranfer money from A ROI ulster bank account to and NI ulster Bank account?This is using online banking.


Comments

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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Yes. You need the NI BIC and IBAN and you can do it via online banking


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    #3
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    And you don't want to use your bank for the transfer coz they will give you bad exchange rate. Only use bank if it's a one-off. If you gonna be transferring money regularly then look into dedicated fx services.


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    #4
    Crann na Beatha
    Registered Users Posts: 11,763 ✭✭✭✭Crann na Beatha


    This post has been deleted.


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    #5
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    I use one called www.rabbitfx.com. Some others are: www.xe.com, and www.currencyfair.com. Shop around, get the best rate you can. Isn't worth the hassle if you just want to send 100 quid tho :) My wages are in sterling, so it's a big deal for me.


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    #6
    Bummer1234
    Registered Users Posts: 1,846 ✭✭✭Bummer1234


    Thanks for all the replys guys


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    #7
    Tony Smith
    Closed Accounts Posts: 1 ✭Tony Smith


    I will be working up north myself for 6 months, so Im looking into this in depth.

    srsly78, rabbitfx seem to just quote midmarket on their home page currency calculator, you never actually get that rate when you go to exchange they add their margins? What percentage are they generally away from mid market when you do the exchange?

    Has anyone else used any of the above?


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    #8
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Correct they only show the real rate when you login and get a quote. Their spread depends on the size of the transaction, with the first threshold of £25000 in sterling (ie you get smaller spread once you go over 25000). Yesterday with mid-market eur:gbp of 1.207 they were offering ~1.201.

    In theory currencyfair.com has no spread at all, but in reality I can never seem to get a good rate through them (they act as market maker, different from other sites).


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    #9
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    I use currency fair once a month, and have no hesitation in recommending them.
    It takes 24 hours approx to complete the full transaction, which is really good also.


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    #10
    WXF
    Registered Users Posts: 14 ✭WXF


    So how it's look like? One transfers EUR to the Exchanger's bank account and after the Exchanger transfers GBP to recipient's UK bank account?


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    #11
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    WXF wrote: »
    So how it's look like? One transfers EUR to the Exchanger's bank account and after the Exchanger transfers GBP to recipient's UK bank account?

    Basically yes.
    Transfer money to exchanger, once it clears, do an exchange at the rate offered or wait for a better rate.
    Once exchanged, request transfer to destination bank.
    With currency fair, its taking me approx 24hours from start to finish.


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