How to Send Money to an Irish Bank Account from the UK.
Although the UK has now left the EU there is still a close relationship between the UK and Ireland.
The common travel area means that even after Brexit there are no restrictions on the movement of people between Ireland , England and the rest of the UK.
British and Irish citizens can still move freely and live and work in either jurisdiction. This means there are thousands of people living in Ireland who get their salaries paid in Sterling.
Moving to Ireland
The number of people thinking of moving to Ireland from the UK seemed to increase after the Brexit vote. In 2021. The Irish passport office had thousands of applications from UK residents in the year before Brexit.
So there is still a substantial number of people moving to Ireland and transferring savings from the UK.
If you need to send money from England to an Irish bank account , it might seem easy to just ask your English bank to do it. However, using a bank will nearly always end up costing you more money. For example, on a transfer of a £400,000 house sale, using your bank could cost you as much as £12000 more than using a money transfer company.
We will show you some of the cheapest ways of sending money to Ireland from England and the rest of the UK.
If you search Google for the latest Sterling to Euro exchange rate you will see dozens of results from websites that provide a feed to live exchange rates. The exchange rates you see online are usually the interbank rates and are not actually available to consumers.
The Interbank rate is the “wholesale” exchange rate at which banks swap currencies between one another. Typically, when dealing with customer transfers – a high street bank will use an exchange rate that could be 3% to 4% away from the interbank rate.
Currency exchange specialists will usually be able to get you an exchange rate a bit closer to the interbank rate – especially on bigger transfers.
See our latest Sterling to Euro exchange rate news
Money Transfer Companies you can use to Send Money From England to Ireland.
Money Transfer Companies based in England
Currencies Direct have been operating worldwide since 1996 and have an office in Ireland and their HQ in London. Currencies Direct Ltd is authorised by the UK Financial Conduct Authority. In Europe, they are also authorised by the Bank of Spain to operate as an Electronic Money Institution.
Currency Solutions are London based currency specialists who will be able to assist you with transfers of money from England to Ireland.
They have been operating since 2003 and are fully authorised by the UK Financial Conduct Authority.
You can visit the Currency Solutions website for a free no-obligation quote and they will get back to you quickly.
You can also call Currency Solutions to discuss your requirements: – UK number 0044 207 740 0000 or on their Irish number 01 431 1344 .
OFX offer money transfer and exchange services across 55 different currencies. Founded in 1998 , OFX now has eight offices across the world, including London and Dublin.
OFX is authorized in the UK by the Financial Conduct Authority and in Ireland and the EU by the Central Bank of Ireland .
They don’t charge transfer fees and the minimum transfer amount is just €100.
A large company like OFX can offer better rates to their clients because of the number of transfers they do.
Once you are registered with OFX , currency transfers can be arranged over the phone, online or on the OFX smartphone app.
Garton Global Payments
Garton Global Payments is based in London and was set up by Irishman Niall Walsh. Garton Global Payments has plenty of experience in helping arrange money transfers between England and Ireland .
All UK and Irish payments and money transfers are carried out on the CurrencyCloud platform which is fully authorized and regulated in the UK, EU, US, and Canada.
You can visit the website for a quote or call Garton on (UK) +44 20 8004 3288 or in Ireland on 01-6571484
Money Transfer Companies Based in Ireland
Fexco is one of Ireland’s biggest financial solutions providers, with operations in 29 countries worldwide. Fexco can exchange your Pounds into Euros and transfer the money to an Irish bank account (yours or someone else’s) . Many other currencies are also available.
Fexco is based in County Kerry and is authorised as a payment services provider by the Central Bank of Ireland and is also regulated in the UK by the Financial Conduct Authority.
You can get a quick quote for currency transfers online at the Fexco Website
CurrencyFair is based in Ireland and has been operating for over 11 years. They are regulated by the Central Bank of Ireland as a payment services business. Everything is carried out online
They have no minimum transaction amount, unlike most of the other currency firms. CurrencyFair will not be able to give you personal advice or arrange thing such as forward contracts. Therefore, we feel they are probably better to use for transactions that you want to do straight away.