I have a sterling life policy which is about to mature. I can either receive the money by cheque or by way of electronic transfer directly into my irish bank account. I will obviously be hit with a currency exchange fee and possibly a low exchange rate.
The figure involved is more than 10k sterling.
I have sent off a letter, telling the Life Company to transfer the money by electronic transfer.
However, I'm having second thoughts and wondering if it would it better for me to receive a cheque and shop around for the best exchange rate?