Moving relatively large sum of money from US bank account to Irish account

S

sceach

Registered User
Messages
68
Hi,
I have approx. $100k savings in a US bank account.
What is the most efficient and economical way of converting that to euro and moving it to my Irish bank account. My US account is with a multinational bank which doesn’t have retail operations in Ireland.
Thanks
 
I was in a similar situation just over two years ago. However, I needed the money pretty fast, to pay for a house. I could have faffed around for a while or researched an economical method but had been through enough house purchase stress that I just wanted to get the money into my account, then straight to my solicitors.

Anyway, I just went to my bank. They gave me a choice between taking the current exchange rate there and then, or taking whatever it was when the money landed.
I opted for the latter, gave my BIC/IBAN to the US bank, and instructed them to send the lot.
It arrived a day or two later, at a slightly better exchange rate than had I taken on the day I enquired.

I’m sure Currencies Direct and other operators may give better exchange rates. But in terms of speed and peace of mind (with respect to house purchase), giving my Irish a/c details to the US bank and asking them to “send it all here” was simple.
 
Thanks Drakon, I have a relationship manager in the US bank who could probably do for me what you just said. I think I was maybe skeptical that they might suggest something that isn'tin my best interests.
 
You must log in or register to reply here.
Back
Top