Is there a cheaper way to do international bank transfers?

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blobert

Registered User
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Hello,

I'm going to be transfering money (in USD) to an account in China in the near future and on a regular basis.

Sending money by AIB is expensive, you save a few euro by doing it online but it is about €22 for the quickest transfer and €18 for the regular one.

I would imagine their conversion rates from Euro to USD wouldn't be that favourable either.

Is there a cheaper way of doing this?

I looked on Western Union but to send the same amount of money with them cost more.

Any suggestions?

Thanks
 
I have done a couple of transfers with BOI. The regular rate is only 50cent
If you are an account holder it is free, so I think you should look into this. I haven't transferred to the US or China though
 
Thanks for the replies guys.

I think that those 50c transfers are only within Europe it is free to do those from all banks now as far as I know.

With regards to moneybookers, the recipient needs to have an account with them as far as I know.

I'm looking for the cheapest way to transfer USD to a bank account in China. They only accept bank transfer and Western Union, and like I said Western Union appears more expensive than the bank.

Any other ideas would be much appreciated.
 
Like anything you need to shop around. Banks will generally not provide you with anything more than an indicative rate by phone and a poor rate at branch. Try and get a rate form a foreign exchange provider also and see how you get on
 
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