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Sterling cheque - into euro account

  • 09-12-2016 1:32pm
    #1
    gmisk
    Registered Users, Registered Users 2 Posts: 33,234 ✭✭✭✭


    Just a quick questions as per title.
    I have recently been left 2k in sterling from a relative in northern Ireland.
    I was just wondering what the best way to get it into my euro account down here i.e. best rate and no/low fee(I no longer have a bank account in northern Ireland)?
    Would I be best getting it cashed and lodging sterling directly down here?
    Or should I just lodge sterling cheque in bank down here?
    I am with permanent tsb in ROI.
    Any advice really appreciated.


Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    You can lodge it to your PTSB account. They will charge a fee, and it may take a few weeks to clear.


  • #3
    Quackster
    Moderators, Regional South Moderators Posts: 5,827 Mod ✭✭✭✭Quackster


    If you're near NI or have reason to travel there, it may be worthwhile opening a bank account in a bank there (EU retail banks offer current accounts to all EU residents now - your address does not have to be in the same EU country as the bank) and then use TransferWise etc to move the money into your ROI account.


  • #4
    pa990
    Registered Users, Registered Users 2 Posts: 3,883 ✭✭✭pa990


    Open a sterling account.

    Ptsb do them.

    Simples


  • #5
    Quackster
    Moderators, Regional South Moderators Posts: 5,827 Mod ✭✭✭✭Quackster


    pa990 wrote: »
    Open a sterling account.

    Ptsb do them.

    Simples

    Is there a charge for lodging a UK sterling cheque into an Irish sterling account? And is it possible to transfer from this Irish sterling account into one's regular current account via TransferWise or would you have to use PTSB's crappy exchange rates?

    Would want to be sure of the answer to both of those questions before going that route. Using TransferWise etc to convert £2k would likely save in excess of fifty euro.


  • #6
    gmisk
    Registered Users, Registered Users 2 Posts: 33,234 ✭✭✭✭gmisk


    Quackster wrote: »
    If you're near NI or have reason to travel there, it may be worthwhile opening a bank account in a bank there (EU retail banks offer current accounts to all EU residents now - your address does not have to be in the same EU country as the bank) and then use TransferWise etc to move the money into your ROI account.
    I am from Northern Ireland, so up and down a fair bit.
    Would it work if I got my parents to lodge the money into their account and transfer using this transferwise service?


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  • #7
    Quackster
    Moderators, Regional South Moderators Posts: 5,827 Mod ✭✭✭✭Quackster


    gmisk wrote: »
    I am from Northern Ireland, so up and down a fair bit.
    Would it work if I got my parents to lodge the money into their account and transfer using this transferwise service?

    That would work but if the cheque is crossed and payable to you, they wouldn't be able to lodge the cheque into their account unless your father has the same first name as yourself.

    If you can get the money sent electronically rather than by cheque, it would be much easier.
    You could download the Pay by Fire app which gives you a free sterling account.


  • #8
    gmisk
    Registered Users, Registered Users 2 Posts: 33,234 ✭✭✭✭gmisk


    Quackster wrote: »
    That would work but if the cheque is crossed and payable to you, they wouldn't be able to lodge the cheque into their account unless your father has the same first name as yourself.

    If you can get the money sent electronically rather than by cheque, it would be much easier.
    You could download the Pay by Fire app which gives you a free sterling account.
    As far as I know the money is in a cheque made out to my name


  • #9
    Emb2018
    Registered Users Posts: 29 ✭Emb2018


    gmisk wrote: »
    As far as I know the money is in a cheque made out to my name


    Hi just wondering how this worked out for you? I lodged a sterling cheque into my Aib euro account last week and wondering how long it will take to clear


  • #10
    gmisk
    Registered Users, Registered Users 2 Posts: 33,234 ✭✭✭✭gmisk


    Emb2018 wrote: »
    Hi just wondering how this worked out for you? I lodged a sterling cheque into my Aib euro account last week and wondering how long it will take to clear
    In the end just lodged in PTSB account it took 20 working days to clear though (the guts of a month)


  • #11
    Delta2113
    Registered Users, Registered Users 2 Posts: 2,739 ✭✭✭Delta2113


    gmisk wrote: »
    In the end just lodged in PTSB account it took 20 working days to clear though (the guts of a month)


    - How much did PTSB charge if anything?


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  • #12
    gmisk
    Registered Users, Registered Users 2 Posts: 33,234 ✭✭✭✭gmisk


    Delta2113 wrote: »
    - How much did PTSB charge if anything?
    There was a percentage charge, apologies cant remember was a while ago


  • #13
    professore
    Closed Accounts Posts: 5,857 ✭✭✭professore


    2k hardly seems worth it.


  • #14
    NiallerMc
    Registered Users Posts: 13 ✭NiallerMc


    Emb2018 wrote: »
    Hi just wondering how this worked out for you? I lodged a sterling cheque into my Aib euro account last week and wondering how long it will take to clear

    Hi how long did it take your cheque to clear with AIB....i lodged one with BOI 5 weeks ago and still waiting for it to clear


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