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Transfer from foreign account

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  • 20-04-2014 3:17am
    #1
    SPM1959
    Closed Accounts Posts: 358 ✭✭


    Simple question: a friend of mine from America - with a US account - needs to transfer money to my Irish AIB one.

    I am going to provide them with the swift code, account number and sort code. Is there anything else they need to make the transfer?


Comments

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    #2
    vard
    Registered Users Posts: 537 ✭✭✭vard


    Can I ask what amount you're looking to send? It might be easier/simpler and likely cheaper to use a transfer service such as transferwise. Affiliate link! https://transferwise.com/u/fc591 - there are other ones too. They all tend to do the same thing.

    Paypal is good for amounts under 500 USD. Flat fee of 5 dollars or so.


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    #3
    SPM1959
    Closed Accounts Posts: 358 ✭✭SPM1959


    It's a few thousand dollars and he will be going into his bank tomorrow to do it I believe.


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    #4
    vard
    Registered Users Posts: 537 ✭✭✭vard


    SPM1959 wrote: »
    It's a few thousand dollars and he will be going into his bank tomorrow to do it I believe.

    Use a transfer service. No need to go to a bank, avoid additional fees/commission. Xoom is another one which I've heard good things about.

    Banks **** you over with charges and give you piss poor exchange rates.


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    #5
    SPM1959
    Closed Accounts Posts: 358 ✭✭SPM1959


    I'll mention it to him. Thank you.


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    #6
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Assuming you actually want to receive euros.... tell him to use this: www.midpoint.com

    Unless he is a dedicated fx trader the above will give him the best rate (better than xoom and currencyfair etc in my experience). As said by other poster above - DO NOT USE BANK.


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