Cross Border Banking

amallon

Hi,

I'm living up North but used to work in the south. I have a Danske Bank account in the North and another in the South. All I use the Southern Account for is paying a direct debit to Canada Life for a saving scheme I started when I was in the South.

The beauty of the Danske bank setup was that there were no charges for moving the money south each month to cover the direct debit.

With Danske bank closing their southern division I need to look for a new bank in the south. Does anyone know if there are other banks which allow for free cross border transfers?

Cheers

murphaph

I don't know if there's an RoI bank that will accept a sterling lodgement and convert to Euro without giving you a terrible rate on the conversion. Check out other ways of making the transfer. Is it possible to switch to a charge on a credit card for example (some UK credit cards charge no exchange commission and give the wholesale rate-you won't get better), rather than a direct debit? If not, there are still cheaper ways of getting x amount of Euro in your RoI account than just letting a bank transfer it.

Someone might be able to suggest a setup like you had before with Danske, but if not take a look at this for pointers.

Yggr of Asgard

Have you checked if they offer a Euro account with Danske NI?

With SEPA direct debit you could have that one deducted if it allows direct debits.

murphaph

dublin-texas wrote: »

Have you checked if they offer a Euro account with Danske NI?

With SEPA direct debit you could have that one deducted if it allows direct debits.

I thought of a UK Euro account and had a look around but it seems the general consensus is that they either charge hefty fees or don't allow many standard features of a current account, eg direct debits, which is what the OP needs. It would be the ideal solution if he can find a bank (doesn't have to be Danske) that will open a fully functioning and free (or at least cheap enough) Euro denominated current account.

amallon

Cheers guys. I have bit the bullet and opened a BOI account. I'll probably get a crap exchange rate but there is no easy alternative