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Moving Sterling from Uk to Euro in Ireland
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Tedness
Posts: 6 Forumite
Hello everyone. I hope I’m posting this in the right place. Apologies if not.
After living in the UK for 21 years, I’m moving back to Ireland. I’m trying to figure out the most cost effective way of moving my life savings from Sterling in the UK to Euro in Ireland. Some of it is in ISA’s and some in notice accounts.
From what I’ve read, which might not be true, it seems I can keep my UK ISA’s, but not the notice accounts. It also seems that if I keep the ISA’s they aren’t tax exempt in Ireland, so I’d have to pay DIRT in Ireland on the interest.
If I decide to move the money, is it as simple as calling each FX company and asking for a quote?
I’m wondering if there are other options I should consider?
Thanks.
0
Comments
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AFAIK the Republic is a poor place to keep savings. Interest rates on offer are poor, and you pretty much get taxed on all interest.
In the past at least many Irish citizens kept their money in Northern Irish banks ( in Sterling) , but not sure if that is still the case/possible.2 -
I would use https://wise.com/ for any transfers1
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