Cheapest way to transfer money abroad

[settlement]

Hi guys,

I am moving to australia shortly and have set up a bank account there already. What is the cheapest way for me to move some of my money over there? I am talking about a sum of about 1500

 

[Lightning]

Normally, using an online currency broker, such as Currency Fair, works out being the cheapest way.

 

[settlement]

Thanks, I'll have a look at their rates. I take it banks have poor rates?

 

[dmurray]

I am interested in this also. If I was to do a large transfer from my P-TSB deposit account to a foreign (American, in my case) bank account, do P-TSB take a large slice?

 

[settlement]

I'm in the process of getting my credentials verified by Currency Fair, I'll let you know how it goes.

 

[elcato]

I used TransferMate in the past and the handy thing for me was that they use PTSB as their holding account (I have a PRTB current account). You have to go through the usual rigmarole of opening your account with them but they are based in Dublin and have an office to drop the documents into. From what I recall their rates were good and better than the usual channels but not sure whether they do Oz.