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Bank Account

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  • 13-07-2012 6:41pm
    #1
    ConanRTTG
    Closed Accounts Posts: 22 ✭


    Hey guys, just a quick question for anyone with a bit of knowledge on the subject.

    I've been searching for a bank to open an account with to lodge work cheques. Bank of America and a few others have a $45 charge for international wire transfers. Is this pretty much standard or will I find one with a lower (or even free of) charge?


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    #2
    silja
    Registered Users Posts: 2,921 ✭✭✭silja


    My money goes the other way, but I recommend checking out local/ regional banks, they often have lower rates.


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    #3
    C.D.
    Registered Users Posts: 670 ✭✭✭C.D.


    I paid $12 to receive a dollar transfer from Europe yesterday into a Bank of America current account. Fees presumably higher if the currency is not in USD.


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    #4
    Overheal
    Registered Users Posts: 82,974 ✭✭✭✭Overheal


    check http://bankrate.com


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    #5
    ConanRTTG
    Closed Accounts Posts: 22 ✭ConanRTTG


    Another question I'll throw in here instead of starting a new thread. I recall reading somewhere on a boards thread that using PayPal to transfer money between accounts is a cheap option. Correct me if I'm wrong but can't I link the 2 accounts (one Irish and one American) to Paypal and then use Paypal as the middle man? The length of time it takes isn't an issue here as I know transfers in and out of your Paypal account take a number of days.


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    #6
    M5
    Registered Users Posts: 10,161 ✭✭✭✭M5


    ConanRTTG wrote: »
    Another question I'll throw in here instead of starting a new thread. I recall reading somewhere on a boards thread that using PayPal to transfer money between accounts is a cheap option. Correct me if I'm wrong but can't I link the 2 accounts (one Irish and one American) to Paypal and then use Paypal as the middle man? The length of time it takes isn't an issue here as I know transfers in and out of your Paypal account take a number of days.

    I do it all the time, no transaction fee and no bank fees on either end. rate tracks 3/4c below the actual rate. Takes 4/5 working days for the entire process. You get mailed when the money hits your Paypal account.


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    #7
    ConanRTTG
    Closed Accounts Posts: 22 ✭ConanRTTG


    M5 wrote: »
    I do it all the time, no transaction fee and no bank fees on either end. rate tracks 3/4c below the actual rate. Takes 4/5 working days for the entire process. You get mailed when the money hits your Paypal account.

    That sounds great! So what's the process: top-up Paypal with one account and then withdraw with the other? And there's definitely no fees?


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    #8
    dave2pvd
    Registered Users Posts: 1,511 ✭✭✭dave2pvd


    Perhaps you already know this, but the verb 'lodge' and spelling of 'cheque' need to be Americanized for now.

    Although, its always fun asking a teller to make a 'lodgement'. The facial expressions can be priceless.


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    #9
    sleepyescapade
    Registered Users Posts: 788 ✭✭✭sleepyescapade


    ConanRTTG wrote: »
    That sounds great! So what's the process: top-up Paypal with one account and then withdraw with the other? And there's definitely no fees?

    When I transferred money from my Irish paypal to my US paypal, I was charged something like $5 per transaction. It may have been that I had just opened a US paypal account and had limitations on the account though. I think I had also sent it as a gift.


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    #10
    ConanRTTG
    Closed Accounts Posts: 22 ✭ConanRTTG


    sleepyescapade wrote: »
    When I transferred money from my Irish paypal to my US paypal, I was charged something like $5 per transaction. It may have been that I had just opened a US paypal account and had limitations on the account though. I think I had also sent it as a gift.

    That's transferring across two different Paypal accounts.. Isn't that different? I've linked both US and Irish to the one account. Should cost nowt?


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    #11
    ConanRTTG
    Closed Accounts Posts: 22 ✭ConanRTTG


    Bump. M5 gave the answer I was looking for but I just want to make sure the process is correct and there's no fees before I try it out!


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    #12
    M5
    Registered Users Posts: 10,161 ✭✭✭✭M5


    ConanRTTG wrote: »
    Bump. M5 gave the answer I was looking for but I just want to make sure the process is correct and there's no fees before I try it out!

    Yes, no fees for me transferring from BOI to BOA.


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    #13
    narddog
    Site Banned Posts: 165 ✭✭narddog


    Hi OP.
    Are you looking to wire money from Ireland to the US? I wire money from the US to Ireland on a regular basis, and use xoom.com. They limit wires amounts to $2999, but only charge $4.99. The ROE isn't too bad either. Don't use the major banks. Rip off merchants.


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    #14
    spideog7
    Registered Users Posts: 1,230 ✭✭✭spideog7


    I'll second xoom.com, I found their rates were on par with Paypal but easier to deal with. I have an Irish Paypal account so can't link my US bank account to it so I gave up on that idea


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    #15
    M5
    Registered Users Posts: 10,161 ✭✭✭✭M5


    spideog7 wrote: »
    I'll second xoom.com, I found their rates were on par with Paypal but easier to deal with. I have an Irish Paypal account so can't link my US bank account to it so I gave up on that idea

    I had no issues adding a US bank account to my Irish paypal...


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