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Transfer money from Irish to UK bank account?

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  • 29-07-2013 6:00pm
    #1
    amsbam1
    Registered Users Posts: 140 ✭✭


    Hi,

    What is the cheapest way to transfer money from an Irish to UK bank account. I want to transfer around €2,000 from my AIB account in Ireland to my RBS one in England. However AIB say they will charge me €15 if I make the transfer in pounds, & RBS say they'll charge me £12 if I make the transfer in euro.

    Any way to do it cheaper?

    Thanks


Comments

  • Options
    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Get a sterling draft and post it to the UK bank?


  • Options
    #3
    amsbam1
    Registered Users Posts: 140 ✭✭amsbam1


    Do you know how much it costs to get a Sterling draft?


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    #4
    hognef
    Registered Users Posts: 828 ✭✭✭hognef


    amsbam1 wrote: »
    Do you know how much it costs to get a Sterling draft?

    I'd be more concerned about the exchange rates of a draft vs a wire transfer. I suspect the draft would achieve an inferior rate compared to the transfer.

    For the best rates, you should look into using a service such as www.transfermate.com. I've used them, and have been very satisfied. You'll know the exact exchange rate at the time of ordering, so no surprises. They need to verify your identity before the first transfer though, so it's slightly more cumbersome than the traditional options. After that it's all done online.


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    #5
    Yggr of Asgard
    Registered Users Posts: 5,224 ✭✭✭Yggr of Asgard


    I agree with hognef, the transfer cost is only aspect you need to look at, the exchange rate is the other and in some cases cheaper means worse exchange rates.

    You should shop around with the several companies that offer transfers like transfermate or https://transferwise.com/.

    I use the later because they seams to beat the exchange rate in the cases I used them and they are fast.


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    #6
    amsbam1
    Registered Users Posts: 140 ✭✭amsbam1


    Thanks for the advice. I found a site like the ones you were mentioning:
    http://www.ukforex.co.uk/

    The first transaction is cost free so, looking good.


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    #7
    Munster Magic
    Registered Users Posts: 2,650 ✭✭✭Munster Magic


    Sorry for bumping this but I am looking to transfer money from my boi account to a uk account and I was going to use transferwise but will boi not charge me for transferring money into the transferwise account and if so would it not be the same to transfer it directly to my uk account?


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