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Best place to exchange euro for sterling

  • 07-04-2024 11:37am
    #1
    SheldonC17
    Registered Users, Registered Users 2 Posts: 531 ✭✭✭


    Hi,


    I am in the process of buying a house up north and will need to have my deposit ready soon. My savings are in a euro credit union account and I’m wondering where I would get the best exchange odds to convert?


    Thank you



Comments

  • #2
    Spocker
    Moderators Posts: 6,875 ✭✭✭Spocker


    Try CurrencyFair or Wise or perhaps Revolut - none of the Irish banks will be able to match their rates



  • #3
    SheldonC17
    Registered Users, Registered Users 2 Posts: 531 ✭✭✭SheldonC17


    is Revolut Premium worth it when transferring a large amount?



  • #4
    daheff
    Registered Users, Registered Users 2 Posts: 5,910 ✭✭✭daheff


    only way you can compare is to request some rates off providers at the same time. They all claim to have best rates etc, but then add extras/fees etc. only way to do a proper comparison is to request a quote at a specific time for the amount you want to exchange. see who comes back with the best quote. And even then, the day you go to do it, you could find you get a bad rate from them.

    alternatively you could split the transaction amongst 2 or 3 of the providers. that way some of your transaction will be at the best rate and some at a worse rate. but not all will be at the worse rate.



  • #5
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,036 ✭✭✭3DataModem


    I've made some big transfers, and have always found Wise and Revolut to be very competitive. Wise in particular for larger amounts, to the point that I wouldn't bother even doing a rate comparison.

    If you are talking about a house deposit presumably its under e100k, right now the Revolut rate is about GBP 200 better than Wise but that's before revolut fees, which depend on day of week as well as plan.



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