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Eur loan repayments from NI

  • 29-05-2017 2:06pm
    #1
    agranny
    Registered Users Posts: 3 ✭


    Hi all.

    Question: I have a large (100K) personal loan with AIB with repayments of about 1000Eur a month. I am moving to Northern Ireland for the next 5 years for work and being paid in sterling. What is best way to go about continuing loan repayments?

    Was thinking that perhaps I could open a NI ulsterbank account as I already have one in the south and transfer money between NI to ROI then use my ROI account to make direct bebits to my AIB account? But brief googling suggests that may be less fees/better rates to use currencyfair to transfer the money from NI to ROI?


Comments

  • #2
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    Currencyfair will have the best rates. It is not so much fees, as it will be cheaper to send money via a regular EFT. But the FX will be worse. Currencyfair will always offer a better rate than your bank.

    Transferwise might be better for you though. They have a new borderless account service, which would allow you to more easily transfer the money

    https://transferwise.com/borderless?source=publicNavbar

    You need to take into account each money how volatile the pound is


  • #3
    agranny
    Registered Users Posts: 3 ✭agranny


    Thanks. That does look like the least painful option. Ill prob set up an account wih both and see how it pans out when I start work in August


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