Importing from the UK - definitive guide (Q and A)

Psygnosis

Can anyone help me revolut, purchasing a car in the UK (getting it shipped over)
It will be September hopefully.

So I have the money in my AIB account. I've tried adding it into revolut but get an error oops something went wrong. The deposit brings you over your 24hour deposit limit. Try adding money via another available method. I've tried it with 2 different amounts.

Earlier today I transfered 15 pounds and converted it into sterling just to see how it works.

Do I need to transfer from AIB into my revolut account?
I can't find definitive answer anyway and would like to figure it out

User1998

Psygnosis wrote: »

Can anyone help me revolut, purchasing a car in the UK (getting it shipped over)
It will be September hopefully.

So I have the money in my AIB account. I've tried adding it into revolut but get an error oops something went wrong. The deposit brings you over your 24hour deposit limit. Try adding money via another available method. I've tried it with 2 different amounts.

Earlier today I transfered 15 pounds and converted it into sterling just to see how it works.

Do I need to transfer from AIB into my revolut account?
I can't find definitive answer anyway and would like to figure it out

You have to go to the bank and do a bank transfer to your Revolut account

deezell

User1998 wrote: »

You have to go to the bank and do a bank transfer to your Revolut account

Not necessarily. €10k daily limit on online transfer on most banks, you can shift it over a few days. If it's your first large transfer, revolut may wait the first time for bank clearance on the source of your funds. Your own bank should automatically confirm this electronically, otherwise you'd need to supply statements, pay slips etc.

deezell

Aib daily limit 10k private, 30k business

peaceboi

Marcusm wrote: »

Have you already purchased the car, paid the U.K. VAT and brought it in?

The VAT is calculated based on the U.K. invoice price not the VRT OMSP and should be collected by NCTS in the same manner as the VRT.

Nope, not yet. waiting to buy in September 1st or 2nd week.

User1998

deezell wrote: »

Not necessarily. €10k daily limit on online transfer on most banks, you can shift it over a few days. If it's your first large transfer, revolut may wait the first time for bank clearance on the source of your funds. Your own bank should automatically confirm this electronically, otherwise you'd need to supply statements, pay slips etc.

With AIB theres a €10k limit for online transfers to Irish bank accounts that you have saved as a Payee. Otherwise its €1k. So he’d have to go to the bank, and Revolut is a UK bank account, you can’t do international payments using online banking.

deezell

User1998 wrote: »

With AIB theres a €10k limit for online transfers to Irish bank accounts that you have saved as a Payee. Otherwise its €1k. So he’d have to go to the bank, and Revolut is a UK bank account, you can’t do international payments using online banking.

Completely wrong

deezell

https://aib.ie/ways-to-bank/transaction-limit-information

User1998

deezell wrote: »

Completely wrong

How am I completely wrong? I was right about €1,000 to non payees and €10,000 to payees. Theres definitely no option for international payments on mine or any of my families, might be possible on a computer

deezell

User1998 wrote: »

How am I completely wrong? I was right about €1,000 to non payees and €10,000 to payees. Theres definitely no option for international payments on mine or any of my families, might be possible on a computer

Correct. Online. On a computer. Still a ridiculous limit. Takes 3 days to transfer over €20k. You must also have a code card reader device to set up the initial transfer also, the little thing they sent out years ago that's in a drawer somewhere.

User1998

Jaysus I haven’t seen that thing in years

deezell

User1998 wrote: »

Jaysus I haven’t seen that thing in years

Seen only when you have no use for it. You can use anyone's, they're not card specific They'll send you out another. It's an AIB only gadget, don't know what other banks (except Revolut) do.

https://www.dailyedge.ie/aib-card-reader-2659570-Mar2016/

OfflerCrocGod

This looks weird to me. The mileage decreased between the two last two MOTs?!
Does anyone have any idea what's going on? It looks like the car was sitting around for at least a year though.

colm_mcm

35 in 2020, 32 in 2019?

OfflerCrocGod

colm_mcm wrote: »

35 in 2020, 32 in 2019?

Ha, idiot. (Me ofc, not yourself)

Wildly Boaring

deezell wrote: »

Not necessarily. €10k daily limit on online transfer on most banks, you can shift it over a few days. If it's your first large transfer, revolut may wait the first time for bank clearance on the source of your funds. Your own bank should automatically confirm this electronically, otherwise you'd need to supply statements, pay slips etc.

Did this last month.

3k limit doing it via debit card daily.
10k limit by phone as a transfer. This took 2 FULL working days. To the minute.

Wife and I have joint acc and I have credit card quicker do 3k off each card daily.

Edit and yes these were first revolut transactions. Revolut to UK acc was instant

deezell

Wildly Boaring wrote: »

Did this last month.

3k limit doing it via debit card daily.
10k limit by phone as a transfer. This took 2 FULL working days. To the minute.

Wife and I have joint acc and I have credit card quicker do 3k off each card daily.

Edit and yes these were first revolut transactions. Revolut to UK acc was instant

Yes, you need to do it online, sepa transfer, or turn up at the bank. They'll charge you for a 'fast' transfer, (It should be Instant anyway if they're using the electronic system), which will still take hours possibly. Online using sepa and code card is fairly quick.
TSB are the pits, if you move money online electronically from them, it can take 2 days. This can be disastrous if you have a time deadline, as you can no longer access it in cash or draft over the counter before you travel, yet it's not in your destination revolut account, it's in Limbo. I've considered a full move to Revolut banking, salary etc, I've been so fed up with local banks. It's ridiculous how difficult it is to pay for normal transactions here, (try paying for a funeral with a debit card if you want to be embarrassed and possibly upset), yet you can buy a car in the UK for £20k with a single debit card transaction, and if your money is still in € in your Revolut account, no worries, it's instantly converted to £.

PaulKK

To be fair to Bank of Ireland, their debit card transaction limit is 25k, so there's none of this faffing around over multiple days. They are getting abuse about their new fees but that is one good point about them.

Top up revolut from debit card instantly, convert to sterling, transfer to UK account in minutes and drive the new car home.

deezell

Thumbs up to BOI. Some garages will let you pay by (Revolut) debit card on their chip and pin card machine, like buying a burger. No waiting for transfer confirmation, it's instant.

Marcusm

peaceboi wrote: »

Nope, not yet. waiting to buy in September 1st or 2nd week.

Make sure you read the threads here properly. Identify that you need to obtain the ORIGINAL V5C from the seller, not a photocopy and not the tear off new ownership slip.

If you are dealing with the dealer make sure that they know you need this upfront and make it clear to them that buying from them is contingent on that and them following the VAT411 procedure to reduce the VAT to nil on the invoice. If they cause any difficulties over this, DO NOT BUY THE CAR.

OfflerCrocGod

Has anyone gotten an RAC inspection on a car they've bought? https://www.rac.co.uk/buying-a-car/vehicle-inspections I was thinking of getting one, I'm unsure if the Advanced is worth it, for a low mileage newish car (late 2016/2017) being sold by a brand dealer I don't expect brake fluid issues. I don't see what another 10 miles test drive would help uncover that a comprehensive check wouldn't, I have lots of photos from the ads so I don't see the value in the Advanced check. Anyone with experience of these inspections?

username?!

Does anyone have experience with Revolut to UK bank transfer?

Both the bank and Revolut are part of the UK "Faster Payments" and it mentions the payments are instant if not within 2 hours.

I'm buying a car in the UK tomorrow and plan to do the transfer after viewing the car. I don't want to end up hanging around or worse still not being able to take the car due to payment not being recieved.

Any input would be great.

revoke12

username?! wrote: »

Does anyone have experience with Revolut to UK bank transfer?

Both the bank and Revolut are part of the UK "Faster Payments" and it mentions the payments are instant if not within 2 hours.

I'm buying a car in the UK tomorrow and plan to do the transfer after viewing the car. I don't want to end up hanging around or worse still not being able to take the car due to payment not being recieved.

Any input would be great.

Hvant any input with Revolut but did mine with Transfermate and found them fantastic did it last year with a car I bought up the north.

User1998

username?! wrote: »

Does anyone have experience with Revolut to UK bank transfer?

Both the bank and Revolut are part of the UK "Faster Payments" and it mentions the payments are instant if not within 2 hours.

I'm buying a car in the UK tomorrow and plan to do the transfer after viewing the car. I don't want to end up hanging around or worse still not being able to take the car due to payment not being recieved.

Any input would be great.

I done two £5k payments and a £7k payment one after another and it was instant. I think one £17k payment would have been instant too.

Wildly Boaring

As above .... Pretty much instant. £13k

Once your revolut account is loaded.
Revolt conversion instant too.

Only thing is some garages aren't ready to let the car off straight away.
I remember having to sit in a cafe near cargiant for hours once

Cona

revoke12 wrote: »

Hvant any input with Revolut but did mine with Transfermate and found them fantastic did it last year with a car I bought up the north.

How does transfermate work? Presumably you transfer the money from your Euro account to theirs and they forward the money along to the UK account?
But how would it work with a 10K daily transfer limit if you need to make multiple transfers?

irishgeo

Did a revoult to UK bank. It even gave a estimated time the money would be in the account. 1hr later. May have been instant but I couldn't collect the car till the next day anyway.

revoke12

Cona wrote: »

How does transfermate work? Presumably you transfer the money from your Euro account to theirs and they forward the money along to the UK account?
But how would it work with a 10K daily transfer limit if you need to make multiple transfers?

I did it in my bank branch i transfered the money into the details they provided the money was recieved to them within 20 mins and they organised payment of the garage that day and he got the money that day. Going into the branch a bit of a pain alright but its done all in one transfer.

aFlabbyPanda

If I was buying a car in the UK and planning on turning it into a track car do I still need to pay vrt, etc?

Esel

aFlabbyPanda wrote: »

If I was buying a car in the UK and planning on turning it into a track car do I still need to pay vrt, etc?

No. In that scenario, it can never be used on a public road.