How to Transfer Money from the UK to an Irish Bank Account
Even though the UK has left the EU – there is still a close relationship between the UK and Ireland.
Having two different currencies (Euro and Sterling) is one big difference – and it can mean extra costs when you need to transfer money from the UK to Ireland.
The common travel area means that even after Brexit there are no restrictions on the movement of people between Ireland and the UK.
British and Irish citizens can move freely and live and work in either jurisdiction.
Many people in Ireland get paid in Sterling but live in Ireland and the opposite is also common. Thousands of people are dealing with both Euro and Sterling payments every month.
Moving to Ireland
The numbers of people moving to Ireland from the UK seemed to increase after the Brexit vote. There is still a substantial number of people making that move and transferring savings to Ireland from the UK.
If you need to send money from the UK to an Irish bank account, it might seem easy to just ask your bank to do it. But we know that doing that will nearly always end up costing you more money. On large transfers such as the proceeds of £250,000 house sale, using your bank could cost you as much as £5000 more than using a money transfer company.
We will show you some of the cheapest ways of sending money to Ireland from the UK.
Finding The Exchange Rate
See our latest Sterling to Euro exchange rate news
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 truth is that the exchange rates you see online are not actually available to consumers. That’s because they are something known as “interbank rates”.
The Interbank rate is the “wholesale” exchange rate at which banks swap currencies between one another. When dealing with customer transfers – a high street bank will typically use an exchange rate that could be 3% to 4% away from the interbank rate.
Currency specialists will usually be able to get you an exchange rate a bit closer to the interbank rate – especially on bigger transfers. It might take 30 minutes to register with one – but it will be time well spent.
Currency Exchange Companies you can use to Transfer Money From The UK to Ireland.
Money Transfer Companies based in the UK
Currency Solutions are London based currency specialists who will be able to assist you with transfers of money from the UK 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 .
Currencies Direct have been operating since 1996 and have 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.
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 the UK and Ireland .
All 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 5841 or in Ireland on 01-6571484
Money Transfer Companies in Ireland
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.
Fexco is one of Ireland’s biggest financial solutions provider, 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