Moving overseas and withdrawing money?

N

Norms73

Guest
I am going to be moving overseas, it will be either Australia or Canada. Am just wondering how to go about withdrawing money from my BOI account. Funds from my rented house willl be going into my irish bank of ireland account, do you think I should just then transfer the money via Banking 365 into my credit card and just withdraw money from an ATM using my credit card when overseas?
 
I don't really get the question - is it (a) is this possible (b) is it the most cost effective/easiest way to do it (c) something else....?
 
My question is 1. Is this the most hassle free way to withdraw money overseas, and 2. Is it the most cost effective way too?
Thanks
 
How much are you talking about? Have you searched out the existing threads which deal with the pros and cons of loading a CC account and withdrawing case? Do you need to do this on an ongoing basis?
 
Hi again, will probably have approximately €1,000 in my Irish BOI account each month, so was going to withdraw that each month?
 
OK - for that sort of amount I would certainly consider using the CC to access it depending on the forex margin charged by your CC (they start at 1.75% but some charge a lot more - check your card terms & conditions). But if you are emigrating permanently will you not need a more permanent way to do this - e.g. after a while will you qualify for the CC if you no longer live here?
 
Norms, you can now transfer funds online to foreign a/c's. Not sure if there's a cost to do this outside the € zone. You will be opening an a/c whatever country you go to,so this might be a good option for you.
Otherwise taking out funds with your Cr Card is an option.
Question is, as Clubman says, how long are you going to be abroad. If it's a yr or two no prob but if it goes on longterm it might be difficult.
Nowadays with online banking though it's quite easy to manage a/c's in other countries.
 
Yeah but I'd imagine that a cross border transfer of the money would probably involve higher charges (forex margin plus transaction charges) than transferring the money to the CC account and then accessing it via cash withdrawals.
 
2. Cheaper Transfer Fees

Money transfers for working holiday makers cost just €15 making it the cheapest way to transfer money. Normal banks charge up to €70. Also worth noting is that it costs up to €2 per withdrawal to withdraw money in Australia using your Irish bank card so having funds sent in advance is more cost effective.

Apply for a visa thro' moneytransfer@traveltowork.com.au , they set up a bank acc abroad for you and you lodge sums up to 13k for the above fee as far as I know.

worth looking at.

Its certainly hassle free as you have a local bank acc and card also.