Daily Online SEPA Transfer Limits - Rabo used to be unlimited but now gone. Who else?

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letitroll

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Hi All - on occasion I need to move large amounts of cash (100k +) from my Irish account to Transferwise's Netherlands based host account where it gets converted & transferred into my GBP / USD account.

Rabobank savings account was great and you could move money out of there without any external transfer limits.

I've looked at AIB, BOI, UB and all seem to have daily limits of 10k or 15k.....which isnt practical for me. I know you can increase these limits a bit by either (a) ringing in (b) filling out some convoluted transfer form & showing up physically in a bank branch. Dont want or need this hassle to move my funds around.

So any other Irish banks like Rabo with effectively unlimited SEPA transfer limits?
 
letitroll said:
Hi All - on occasion I need to move large amounts of cash (100k +) from my Irish account to Transferwise's Netherlands based host account where it gets converted & transferred into my GBP / USD account
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Hi Christy,

Welcome to AAM.

How’s the weather in Marbella?

Gordon
 
Gordon Gekko said:
Hi Christy,

Welcome to AAM.

How’s the weather in Marbella?

Gordon
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:) Ok see how it reads but you get my point!! No Irish bank (now Rabo is gone) makes it possible to move your lump sum savings all online to another bank /transferwise without going through hoops. Find it frustrating that they want you into the branch with a CHAPS form or whatever. Thought SEPA was meant to make things easier for this type of stuff.
 
Agree, this is a pain since Rabo left. With BOI I have to do things in €20k chunks. Alternatively, ring them up (I'm supposed to be a "premier" customer) to be told you have to go into a branch. Go in the branch and hunt for a customer services person, only to be told you have to queue for a teller. Queue for the teller, only to be told the transfer amount is "above their pay grade" and you have to go to customer services. Make a scene about being given the runaround until it eventually gets sorted. I think the last one took two hours to do what took two minutes with Rabo.
 
letitroll said:
No Irish bank (now Rabo is gone) makes it possible to move your lump sum savings all online to another bank /transferwise without going through hoops.
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N26, which is open to Irish residents, makes the transfer process easy without hoops.
 
CiaranT said:
N26, which is open to Irish residents, makes the transfer process easy without hoops.
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Cheers @CiaranT looks like the best option out there alright..like the website & the general disruptive nature of them....seems crazy in this day and age that no other bank in the Irish market gives people real control of their money online.

Interested if anyone has an other experience of a bank that OK has 10/15k limit but a phone call to verify a transfer is enough to get the funds released?
 
Am I right in thinking N26 is a current account only? Rabo had the advantage of being able to transfer money quickly from an interest-bearing account. I know it doesn't make much difference with current interest rates but as a general principle ... that would make N26 only useful as a staging account which still leaves the problem of how to get large chunks into it from elsewhere.
 
If you speak to AIB or BOI about their private banking options which sounds like you qualify for, this limit is lifted, and you an transfer any amounts quickly with an email or phone call.
 
dub_nerd said:
Am I right in thinking N26 is a current account only? Rabo had the advantage of being able to transfer money quickly from an interest-bearing account. I know it doesn't make much difference with current interest rates but as a general principle ... that would make N26 only useful as a staging account which still leaves the problem of how to get large chunks into it from elsewhere.
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Currently N26 does not offer savings accounts in ROI. They do in other markets, so they might offer here as well at some point.
 
I would certainly recommend n26 from a usability point of view - very quick to set up an account and good functionality through the app and online. Love the idea of being able to set up daily limits for withdrawals and transactions as a security feature if you know you will not be using the card/account for big purchases
 
I have to say they look pretty good from a credit card and FX point of view too. Pity about the lack of a savings account, I'd sign up immediately.
 
N26 offer 'spaces' savings accounts but they are not interest bearing but do have some nice features.

In Germany N26 partner with Raisin to offer savings accounts. N26 are licensed to operate here but Raisin are not but Raisin can operate in most other EU countries. Raisin have told the Irish Times that they will resolve the Irish issue in the coming 6-9 months.
 
I opened an account with N26 when Rabo packed up I did it from Spain as I was there at the time whole process was a breeze got my atm card in under a week and the couple of times I have had to contact the customer service they have been very very efficient it also helps being able to web chat as well
you can do everything with your card from the app like block un block and other things
 
Hopefully Raisin will get sorted out and partner with N26 in Ireland. I would definitely sign up.
 
Quick Update -

Apparently Revolut allows theoretically unlimited SEPA transfer from your account.

Revolut isnt a bank but rather payments intsitution and your cash is held in a segregated account with Lyod's. No interest either :(

Raisin + N26 would be the answer alright
 
letitroll said:
Quick Update -

Apparently Revolut allows theoretically unlimited SEPA transfer from your account.

Revolut isnt a bank but rather payments intsitution and your cash is held in a segregated account with Lyod's. No interest either :(

Raisin + N26 would be the answer alright
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Not sure if you missed my reply but AIB or BOI can remove this limit for you.
 
azerogo said:
Not sure if you missed my reply but AIB or BOI can remove this limit for you.
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Thanks @azerogo ive sent email to them, no where near the 1million investable assets limits they talk about on their website as being the qualifying amount needed but they might work with me
 
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