Irish Pension

bucketman

Could someone offer me some advice please, I am based in the Uk and I am paid a Irish pension, this is transferred into my uk bank account and I am loosing quite a bit on currency conversion each month, does anyone know if I could open a euro bank account in Ireland here in the uk? or open in a euro account here in the uk that doesn't cost me money in bank charges or currency conversion?

MARTYM8`

Yes - you can open a euro account in the UK or Ireland and draw it down in more efficient ways. You might have to go to Ireland to set up the Irish account via AIB/BoI - why not call their UK operations and ask. Ulster Bank - linked to RBS - also has Irish operations albeit via a different subsidiary.

Up to you.

PS The Irish pension is of course much more generous than the UK one - even for fewer contribution years - so lucky you!

grumbler

MARTYM8` wrote: »

Yes - you can open a euro account in the UK or Ireland and draw it down in more efficient ways. You might have to go to Ireland to set up the Irish account via AIB/BoI - why not call their UK operations and ask. Ulster Bank - linked to RBS - also has Irish operations albeit via a different subsidiary.

Well, with a € account in any UK bank you hardly can convert € to £ "in more efficient ways". All outgoing transfers will cost you.
So, the account has to be in Ireland.
More efficient ways: https://www.fxcompared.com/money-transfer/Ireland-UK?amount=1000&bType=1&ref=filter