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Best way to pay in sterling? (time and exchange rate)

  • 22-05-2019 9:28pm
    #1
    businessdit
    Registered Users Posts: 173 ✭✭


    I'm buying a car for 15k sterling in Belfast.

    I live in Dublin and the seller is insuring on bank transfer which is fair enough. I wouldn't want to travel north with this much cash anyway.

    Is it more favourable to ask my bank (Ulster Bank) to make the payment.

    OR

    Would it be better if I drive to Danske Bank in Belfast and make a transfer into the person's account using my UB bank card?

    Looking for a way of getting a good exchange rate and quick payment.

    Thanks!

    Cheers


Comments

  • #2
    ahnowbrowncow
    Registered Users, Registered Users 2 Posts: 2,583 ✭✭✭ahnowbrowncow


    Have a look at currency fair, I used them earlier this year to transfer a larger sum to a dealer in Belfast. Completed the transaction online and it was quite straightforward and it had a far better exchange rate than any bank.


  • #3
    businessdit
    Registered Users Posts: 173 ✭✭businessdit


    ahnowbrowncow wrote: »
    Have a look at currency fair, I used them earlier this year to transfer a larger sum to a dealer in Belfast. Completed the transaction online and it was quite straightforward and it had a far better exchange rate than any bank.

    OK thanks.. good tip.

    Will it take much longer..? Looks like there's a verification process?


  • #4
    ahnowbrowncow
    Registered Users, Registered Users 2 Posts: 2,583 ✭✭✭ahnowbrowncow


    businessdit wrote: »
    OK thanks.. good tip.

    Will it take much longer..? Looks like there's a verification process?


    Probably about 3-5 business days in total. 1 or 2 days to verify. Transferring money into the currency fair account from my bank took one day and finally it took one day to transfer from my currency fair account the dealer's bank account.


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