Foreign currency payment

luckystar

Frequent Poster
Messages
180
Most of the companies payments are in €, but for the odd £ and US$ payment what is everyone using these days?
Most are in the order of £/$10k
 

Brendan Burgess

Founder
Messages
39,131
Do you have any receipts in sterling or dollars?

If so open an account in one of those currencies.

Brendan
 

peemac

Frequent Poster
Messages
683
I simply use my aib account. The rate is quite close to the mid market rate and then they charge €15 fee.

I'm not sure whether I still have a particularly good margin I negotiated many years ago or this is now how they do it as standard.

If the payment is for a small amount under $1000, I use a credit card.

Many others will use places like transfermate, but if it's not overly frequent and the rate you bank gives is within .5% of mid market, it's probably not worth it.
 

luckystar

Frequent Poster
Messages
180
Do you have any receipts in sterling or dollars?

If so open an account in one of those currencies.

Brendan
Yes, already have a sterling account - AIB. Just was wondering if there was a better option. Presuming the credit card rate is worse than a bank one. Had a look at transferwise but wasn't sure if it was a better option
 
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