AIB -Sterling draft or international transfer?

[ankles1972]

I am paying for a holiday in sterling, abourt £1,000. I am trying to figure out which is cheaper. AIB want me to go down the EFT route, and say it is cheaper, but on their website it appears to cost €4.44 per foreign draft, but an interntional EFT costs €15. So am I better off actually getting the draft? Am I missing some other charge?

 

[ankles1972]

I am paying for a holiday in sterling, abourt £1,000. I am trying to figure out which is cheaper. AIB want me to go down the EFT route, and say it is cheaper, but on their website it appears to cost €4.44 per foreign draft, but an interntional EFT costs €15. So am I better off actually getting the draft? Am I missing some other charge?

Here is their website fees bookelt

[broken link removed]

 

[Woodie]

I would suggest that the receiving bank may also make a charge (GBP20) which company you are paying may well want to recover from you. Also it is not guaranteed that the receiving UK bank will clear the draft immediately, it is more likely to go through the cheque clearing service which can potentially take up to 30days.
So if it was me, I would use the EFT.

 

[Ravima]

Go for the draft. It is drawn in GBP on a UK bank. It will take a few days to post to receipient and another few days to clear, but once recipient has it, it is the same as cash.