Moving Sterling from Uk to Euro in Ireland

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. 

Comments

  • Albermarle
    Albermarle Posts: 27,195 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    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.
  • friolento
    friolento Posts: 2,202 Forumite
    1,000 Posts First Anniversary Name Dropper Photogenic
    I would use https://wise.com/ for any transfers
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350K Banking & Borrowing
  • 252.7K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243K Work, Benefits & Business
  • 619.9K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 255.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.