International transfer

Allan45121

Hi, I'm trying to find out the cheapest way to transfer money from my mothers uk bank account to my irish one. we're looking to transfer money to assist in purchasing a house here. i know the exchange rate is pretty terrible right now but we can't change that. Her bank has said they can do a BACS transfer but i neither know what that means or costs. do we transfer in euro or pounds? Any advice would be appreciated. Thanks in advance

nuckeythompson

Currency fair

Allan45121

never used them are they legit?

nuckeythompson

100% sponsor of the Irish man abroad podcast

skippy2

+1 Currency Fair........best rate and lowest fees, i thnk its €3, you can get...........use them every few weeks and havent found anything better

nosilver

Assuming its a decent figure, ask your bank for a dealer rate. Very little difference between bank dealer rate and the various independent exchange companies.

The exchange would need to be in sterling.

You should be able to get about 0.5% from mid market.
Mid market is currently 1.155, so target 1.145 or better

Mid market rate changes constantly, so probably better to targey 1c or less lower than the rate at the time of transfer.

Here's a link to mid market http://finance.yahoo.com/quote/GBPEUR=X?p=GBPEUR=X

Allan45121

sorry, had unsubscribed to thread somehow, thanks for your help guys