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Moving 50k from Poland to Ireland , best way?

  • 16-12-2015 9:21am
    #1
    Daz_
    Registered Users Posts: 930 ✭✭✭


    Hi. We want to transfer 50k from Poland to Ireland. Any advice on best method to do this would be really appreciated. Is it as straightforward as instructing Polish bank to send to an Irish account?
    Also is there any revenue implications here? The money is from a property sale.
    Thanks


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,725 Mod ✭✭✭✭Henry Ford III


    1/. Bank transfer I reckon.

    2/. CGT may apply depending on a few things - tax residence for example. Get proper advice.


  • #3
    JTMan
    Registered Users, Registered Users 2 Posts: 5,541 ✭✭✭JTMan


    Daz_ wrote: »
    Hi. We want to transfer 50k from Poland to Ireland. Any advice on best method to do this would be really appreciated. Is it as straightforward as instructing Polish bank to send to an Irish account?
    Also is there any revenue implications here? The money is from a property sale.
    Thanks

    Is the transfer PLN to EUR? If so, use an online FX broker to do the transfer such as Transfer Wise. Do you use default bank FX rates or you will get screwed.

    Transfer Mate will need your IBAN and BIC for your Irish account.


  • #4
    Little Bubbles
    Registered Users, Registered Users 2 Posts: 268 ✭✭Little Bubbles


    Benimar wrote:
    I can just about see some logic in keeping him, although personally I wouldn't touch him until there is evidence of Eden Hazard 2014/15 rather than the 2015/16 version. However, I really can't understand why anyone would transfer him in yet!

    Daz_ wrote:
    Hi. We want to transfer 50k from Poland to Ireland. Any advice on best method to do this would be really appreciated. Is it as straightforward as instructing Polish bank to send to an Irish account? Also is there any revenue implications here? The money is from a property sale. Thanks


    In a brinks van...


  • #5
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    Why would anyone use a bank these days, worst rates and fees. Use Currency Fair regularly and recommend them great rates and 4Eur transfer fee


  • #6
    Pete67
    Registered Users, Registered Users 2 Posts: 1,257 ✭✭✭Pete67


    Second the suggestion to use Currency Fair - great service, use it regularly.


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  • #7
    CiniO
    Registered Users, Registered Users 2 Posts: 16,063 ✭✭✭✭CiniO


    Currencyfair or Transferwise indeed provide excellent exchange rates compared to bank rates, but there are services providing even better rates operation in Poland. With 50k this could make significant difference.

    However Op didn't answer if money to transfer is in PLN or EUR.
    If it's in euro then just a regular bank transfer will do.
    If in PLN, op will be best off changing money there in Poland using Walutomat or cinkciarz or similar money exchange service.

    In relation to tax implications it all depends on circumstances and is fairly complex matter so professional advice would be best thing.


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