Inheritance from the UK

Flashdan

Hi,

I have asked lots of people and spoken to a few places like transferwise but not really gotten a proper answer so I thought I would come to the fountain of knowledge that is boards

I have an Inheritance from the UK. I need to transfer the money from the UK to my account. The rates you get with the bank are horrible so don't want to use them.

I have no account in the UK which makes it very hard to transfer from one account to another with places like transferwise.

I am getting a small amount of money at 1st so I can try a certain way before I transfer the bigger amount at the end of the year. It is below the tax limit so no worries about that part.

Does anyone know the best way to do this ?

SmartinMartin

Get yourself a Revolut account and transfer it into that.

Wuff Wuff

set up a revolut account, use that to transfer it to your irish account

Flashdan

Ok great I'll sort one of those.

Flashdan

Flashdan wrote: »

Ok great I'll sort one of those.

Can I get a basic account and upgrade nearer the time?

Wuff Wuff

Flashdan wrote: »

Can I get a basic account and upgrade nearer the time?

yeah, just be aware of T's & C's if you are downgrading the plan after

Flashdan

Thanks very much.

Flashdan

I have done a transfer with the small amount. Can't believe its that easy.

Thanks for your help.

Jim2007

Flashdan wrote: »

I have no account in the UK which makes it very hard to transfer from one account to another with places like transferwise.

Have the executors of the will informed you how they intend to distribute the funds? Since the UK remain in the SEPA system, I would expect that they will be able to transfer the funds to you directly.


On the other hand many solicitors favor bank drafts for the distribution, so they will have documented evidence of the distribution.

Flashdan

Jim2007 wrote: »

Have the executors of the will informed you how they intend to distribute the funds? Since the UK remain in the SEPA system, I would expect that they will be able to transfer the funds to you directly.


On the other hand many solicitors favor bank drafts for the distribution, so they will have documented evidence of the distribution.

Hi, the executors and solicitors are going to do a bank transfer. But the rate you get with the high street banks is really bad that's why I was looking for something better.

Revolut seems a good option.

Alun

I'll be in the same situation in the very near future, and I'm just wondering how much of a rate difference we're talking about here?

Flashdan

Hi Alun,

Depends what bank you are with I am with AIB and they don't give good rates but others might.

If you go on to https://transferwise.com/ie

They have a lot of examples, it may seems silly to worry about saving 20 Euro for 1000 but when it is for larger amounts it soon adds up.

Bikerman2019

Can you jump on a ferry and go and get it?

Flashdan

Bikerman2019 wrote: »

Can you jump on a ferry and go and get it?

I can 100% go and get it.

It will still be in pounds if I go over. Maybe get it changed into Euro when i'm there and bring back the draft to Ireland that way I could avoid charges?

Bikerman2019

Unsure if exchange rates, but the UK Post office take sterling and change into euro.