Transfer £35k to Rep of Ireland account?

Newnoel

Hi

I want to transfer £35k to my brother, who is currently resident in the Rep of Ireland

What is the cheapest way to do this?

xylophone

Have you looked at TransferWise?
https://transferwise.com/gb/send-money/send-money-to-ireland

colsten

Transferwise does not have FSCS protection. This may or may not be an issue for you. It would be for me, for £35K. If it is not an issue for you, you can get better deals than with Transferwise. 

If I were you, I would use Starling GBP and Euro accounts. If your brother has a UK address, he can open those accounts. If not, then you would have to open them. Result would be the same.

jonesMUFCforever

Are you wanting to send £35,000 sterling or Euro equivalent?

Newnoel

jonesMUFCforever said:

Are you wanting to send £35,000 sterling or Euro equivalent?

The former

colsten

Newnoel said:

jonesMUFCforever said:

Are you wanting to send £35,000 sterling or Euro equivalent?

The former

what will your brother do with GBP in RoI?

xylophone

Does your brother have a sterling bank account?

jonesMUFCforever

Newnoel said:

jonesMUFCforever said:

Are you wanting to send £35,000 sterling or Euro equivalent?

The former

In that case all this talk of using Transferwise etc is irrelevant - just go with the cheapest option to you, as you  don't have to worry about who has the best exchange rates.
If the brother has not got a sterling account that's his problem - the Irish bank will apply its own rate and convert it into a Euro account.

colsten

jonesMUFCforever said:

Newnoel said:

jonesMUFCforever said:

Are you wanting to send £35,000 sterling or Euro equivalent?

The former

In that case all this talk of using Transferwise etc is irrelevant - just go with the cheapest option to you, as you  don't have to worry about who has the best exchange rates.
If the brother has not got a sterling account that's his problem - the Irish bank will apply its own rate and convert it into a Euro account.

Is that called brotherly love?

born_again

colsten said:

jonesMUFCforever said:

Newnoel said:

jonesMUFCforever said:

Are you wanting to send £35,000 sterling or Euro equivalent?

The former

In that case all this talk of using Transferwise etc is irrelevant - just go with the cheapest option to you, as you  don't have to worry about who has the best exchange rates.
If the brother has not got a sterling account that's his problem - the Irish bank will apply its own rate and convert it into a Euro account.

Is that called brotherly love?

Na. That's MSE love

Newnoel

colsten said:

Transferwise does not have FSCS protection. This may or may not be an issue for you. It would be for me, for £35K. If it is not an issue for you, you can get better deals than with Transferwise. 

If I were you, I would use Starling GBP and Euro accounts. If your brother has a UK address, he can open those accounts. If not, then you would have to open them. Result would be the same.

Tried to use Instarem, as it gives the best rates on this amount. However, it says it has sent a verification code to my phone, but nothing happens. I dont have any problems receiving text messages from anyone else, and have tried rebooting the PC and restarting the phone. No phone / email details to contact

Any ideas?