Guys I need to transfer some money into my sisters UK bank account. She banks with First Direct, they are an online bank. I am with AIB - its very easy to transfer money to Irish bank accounts, you just add the account and transfer - I'm just wondering does it work the same for UK, or are there any charges etc?
Thanks
Ask your sister for her BIC and IBAN and if you are an AIB internet banking customer you can do the transfer online. Charges should be the same for a dometic credit transfer.
You can do it online no problem, so long as you have the IBAN and BIC but because the currency is different there is a charge....15 euro I think with AIB regardless of the amount being transferred. Then of course there is the exchange rate too. I wish they'd join the euro.....
as other people have said, i would use a specialist currency broker for your transfer depending on amount. as you would instantly save the transfer fees €15 and recieve a better rate of exchange saving you more money.
you are likely to save at least 0.5% in the exchange rate compared to using a bank .... again dependent of the amount.