Looking for best way to transfer funds electonically between Ireland and Canada

[galleryman]

Hi,

I’m moving to Canada later this year. I will have sold my house and I plan to leave the proceeds from the house amongst the Irish Banks until the exchange rate improves (assuming it does).

Does anyone know the best way to send money electronically so that I get a combination of the best exchange rate and the lowest fee/commission. It will be a large enough sum so I don’t want to pay a commission. A modest Fee would be fair as it is only electronic, no cash or cheques.

I will be watching the rates like a hawk and will want to move quickly when I see an opportunity. Therefore finding the institution that most closely tracks the true rate and in real time would be important.

Any tips or advice would be much appreciated.

 

[mooney76]

Euro to Canadian dollar exchange rate

For large transfers you need to be getting the best exchange rate, fees become irrelevant. Banks charge fees and aren't flexible when it comes to exchange rates. Try your bank but also try www.transfermate.com. They're in dublin and Canada and would offer better rates. I've used them for sterling

 

[RLD]

Ask your bank(s) for an indication rate to make the transfer today. Compare these with the real-time market rate from somewhere like fxcentre. com and you will be able to see the margin they are taking which should be similar when you actually make the transfer. However bear in mind that the banks may not update their rate throughout the day.

And for larger sums, they may offer a better rate... with a bit of persuasion!