Possible to receive sterling in Ireland in a straightforward way?

Cyrus

From time to time i have occasion to receive a reasonable amount of sterling, all above board and all the rest, but id love to avoid aib having their way with me every time if possible.

scenarios:

receive into my euro current account and have aib hammer me on the conversion

Receive via paypal and let them hammer me instead

Open an aib sterling account and realise you cant do anything with it online, and to transfer money out of it you have to fill in a form, present it at a branch and pay 20 each time (even if transferring to yourself)

Revolut seemed like the answer but they cant take deposits onto your card from an account thats not your own :rolleyes:

so any other suggestions?

Arbie

I have a UK Halifax current account - no charges, internet banking, contactless card - registered to my RoI address.

I top up my Revolut from the Halifax card in £STG and then convert to Euro and deposit to Irish account or just use my Revolut card.

In the past I have also used Transfermate and Transferwise but there is a fee.

catbear

I use a monese sterling card. It has a UK sort code and bank acc registered to your irish address.

For money conversions I use currencyfair.

Car99

Set up a sterling account and use Moneycorp.ie . I find their service fast and very competitive. Good customer support also.

Cyrus

Arbie wrote: »

I have a UK Halifax current account - no charges, internet banking, contactless card - registered to my RoI address.

I top up my Revolut from the Halifax card in £STG and then convert to Euro and deposit to Irish account or just use my Revolut card.

In the past I have also used Transfermate and Transferwise but there is a fee.

thanks for that

what do you enter for post code?

Chris_5339762

Can't you just use Transferwise? If you can afford to wait a day or two to receive the cash its great.

Cyrus

Chris_5339762 wrote: »

Can't you just use Transferwise? If you can afford to wait a day or two to receive the cash its great.

to receive sterling? how does that work? if it involves getting the sender to use transferwise its not really a runner for me

catbear

Cyrus wrote: »

to receive sterling? how does that work? if it involves getting the sender to use transferwise its not really a runner for me

If the acc has to be in your name then Monese sounds like a good option. Then when the money is received you can send it on to currency changing site and then onto your own euro acc.

Yggr of Asgard

You could open a paywithfire £ account and than use transferwise/transfermate/currencyfair/revolut etc. to convert to €.

Advantage over Monese is that the account is free. Yes it's online only with no cards but a free account to get £ in.

Paywithfire also offers you conversion between your $ and € account, but they charge a 1.25% fee for it. So shop around.

Arbie

Cyrus wrote: »

thanks for that

what do you enter for post code?

They didn't ask for one when I added my address - they must have a setting the in bank. You would need to go in to Halifax Branch to set it up.

Yggr's suggestion of Paywithfire is a good option actually.

Islander13

Go on natwest.co.uk I think they allow all EU residents to open an account with them without needing a uk address

Islander13

http://personal.natwest.com/personal/current-accounts/nonuk-eu-residents-hub.html?intcam=N_PC_HPTO_0_MTA_MTAGen_ER6_MTA_a6

Yggr of Asgard

Why someone would go through the whole EU basic account rights application process is beyond me if they just need an account for online transaction.

Monese or Paywithfire are great easy accounts which can be opened online with a couple of minutes investment, yes they don't do direct debits etc. but otherwise they offer a quick easy UK account number.

Also most of the big UK banks are required by law to open an account to anybody in any EU/EEA country, they just have some different requirements as to certification / application process.

Natwest does it via paper and certified copies for example.

Nationwide is offering a superb free account for non-residents (that also does Apple/Android pay) here which requires you to visit a brand (there are some up north).

But remember that once you apply for one of those basic EU/EEA bank accounts no other bank in the UK must open you an account anymore, unless your current bank has terminated your account. It's a one used the right is gone activity. So if you are dissatisfied you might find it hard to get another account with another provider.

skippy2

Use Currencyfair all the time ..........would seem to be the simplest solution and best rates with only a small transaction fee

Quackster

As already mentioned, if you need to receive sterling payments directly into your own bank account, Pay with Fire is the most cost-effective and hassle-free option.