I hope someone can offer me some advise. I'm wondering what is the cheapest way to make an international money transfer, outside the EU? If I were to do it through my bank it would cost €31.50!
Hi Flossie, thanks for the reply. I would be making transfers on a semi-regular basis and my preference would be to use an online, electronic facility so any other suggestion and/or opinions for this would be great, e.g. Western Union. Thanks again
I hope someone can offer me some advise. I'm wondering what is the cheapest way to make an international money transfer, outside the EU? If I were to do it through my bank it would cost €31.50!
Not sure if this idea is of any help. National Irish Bank do not charge transfer fees to accounts held in the same name in Northern Bank. Danske Bank Group transfers are free. I have done some from EUR to GBP and they waive the usual cross border fee.
If you could open an account in Northern Bank you could send the sterling to National Irish Bank free. You would also need a NIB account.
You can open an account with Northern Bank and ask them for a letter of recommendation to have an account opened with NIB in Dublin.
It may be a long winded process but will cost you nothing.
When the money is in either bank you can transfer it to a domestic account free. The eBanking on both banks is world class too.
Transfermate would gave better exchange rates, they charge a transfer fee but depending on the size of the transfer it should be cheaper, just compare with your bank the total amount you need to have to send x
[FONT="]Don't go with banks. There are a ton of better options. Me, I stick to my visa debit card (24/7 Card). It greatly lowered the cost of my money transfer to Philippines transactions and keeps my spending on a tight leash since you can't overdraft ever. See if it's what you're looking for.[/FONT]
If you are gonna send money to the Philippines, try qwartapadala.com. The service fee that they charge is fixed at 4.67 USD or P200.00 regardless of the amount that you send. I recommended this to my uncle who is living in Australia. The exchange rate offered was 1 AUD = 39.9948 PHP during that time. According to them the exchange rate that they offer changes daily and is much higher than that of the exchange rate in other banks. You can visit their website and creating an account is free. Try it out.