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Receiving USD into current account Vs USD account (PTSB)

  • 17-12-2015 7:11pm
    #1
    mooneyd
    Registered Users, Registered Users 2 Posts: 599 ✭✭✭


    Hey all,
    I'm due to recieve some money in the form of USD wire transfer.

    What's the difference between having it lodged into a current account Vs having it lodged into a USD account?

    Thanks.


Comments

  • #2
    EagererBeaver
    Registered Users, Registered Users 2 Posts: 6,537 ✭✭✭EagererBeaver


    You'll receive the sum converted at that day's rate from the bank and pay an FX commission (assuming you're talking about it being lodged into a non-USD current account).


  • #3
    mooneyd
    Registered Users, Registered Users 2 Posts: 599 ✭✭✭mooneyd


    Thanks.

    So whats the benefit of opening a USD account if I'm going to withdraw the money either way?


  • #4
    EagererBeaver
    Registered Users, Registered Users 2 Posts: 6,537 ✭✭✭EagererBeaver


    mooneyd wrote: »
    Thanks.

    So whats the benefit of opening a USD account if I'm going to withdraw the money either way?

    It's entirely dependent on your circumstances. Do you transact much in USD? If not, probably very little.

    Forgot to mention that as it's an international transfer, you'll probably pay another fee on that.


  • #5
    mooneyd
    Registered Users, Registered Users 2 Posts: 599 ✭✭✭mooneyd


    Just this one 4 figure USD payment then ill close it. But im still interested in the longterm benifits as a sepperate transaction as I have multiple larger HKD transactions due over the next 2 years


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