Regular Euro payments from Rep of Ireland account to account in N. Ireland

ciaran120

Does anyone know if I can open a Euro bank account in N. Ireland with the Northern Bank? The reason I ask is because its free to transfer money online from my National Irish bank account in Dundalk (R.O.I) to my Northern Bank account in Newry (N.I.). Here's the only problem the exchange rate I receive is very poor when my Euros are converted over to pounds sterling.

Ideally I'd like to transfer my Euros from National Irish Bank in Dundalk to a Euro Northern Bank account in Newry. Then I'd like to use a U.K. based FX company such as (Ireland FX in Belfast, TorFX, Foremost Currency Group, HiFX, Currency Index or Baydonhill) to free of charge using electronic funds transfer (EFT) debit my Euros from my Euro account in Newry as a bill payment. The FX company would then convert the Euros to pounds sterling at an excellent exchange rate and then free of charge using EFT/ACH deliver the converted money in pounds sterling to my sterling bank account in Newry. Anyone ever tried anything like this? or have any other money saving alternative suggestions? Thanks

blueberrypie

Why can you not just use the currency exchange company to debit the money from your National Irish Bank account and deposit it to your Northern Bank sterling account?

leskerr

What kind of volumes are you dealing with? Is the difference in rate significant?

I assume you're comparing like with like, i.e. sell rate v sell rate.

I'm asking because I can't see any sell rates for the companies mentioned, only mid-rates, and would genuinely like to know how competitive they are.

regards
les

ballyblack

look like SPAM?