Say I want the transaction to just take place between the two banks.
Is it as simple as ringing up AIB and saying I want to transfer my cash to my sterling account and quote me know much I would end up with in Sterling.
And also asking Ulster Band how much Sterling I would get if I did the conversion with them.
+1. They will fleece you on the rate. Use Transfermate.
Re: Transfermate: what's the legal situation if Transfermate goes out of business while they hold your cash in transfer? This is what's put me off using them to date...
Can I ask if I use the above company, to transfer money into UK pounds or Oz dollars, where is my account held in the event of a breakup of the euro
So, If I have an Ulster Bank account in the South already.
The steps are
1. I phone Ulster Bank or call in directly to open up a sterling account in the North. I bring in the usual documentation to do so - Passport, Bill etc.
2. Having opened the sterling account in the North. I then use Transfermate to transfer euro money from say,
My euro Ulsterbank account in the south
My euro AIB account in the south
to my sterling account in the north.
3. This will take two working days to transfer across the funds
Is this correct?
You mean between trade date and settlement date (T+2 ???)? If so, that is a short window to be worried about.
That's about it alright - see http://www.askaboutmoney.com/showthread.php?t=157301 for more details. If you have an UB account in the south already you won't need to provide documentation for proof of address, you simply need to sign and return the form they send out.So, If I have an Ulster Bank account in the South already.
The steps are
1. I phone Ulster Bank or call in directly to open up a sterling account in the North. I bring in the usual documentation to do so - Passport, Bill etc.
2. Having opened the sterling account in the North. I then use Transfermate to transfer euro money from say,
My euro Ulsterbank account in the south
My euro AIB account in the south
to my sterling account in the north.
3. This will take two working days to transfer across the funds
Is this correct?
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