Transferring money from the UK to Ireland

seanny

Atlantic money say there is flat fee of 3 pounds per transfer.

Would you be able to do lots of smaller transfers to avoid risk? 

grumpy_codger

seanny said:

Atlantic money say there is flat fee of 3 pounds per transfer.

Would you be able to do lots of smaller transfers to avoid risk? 

I don't see why not, but if you think there is some risk, you reduce it, not avoid.

seanny

I went onto the fca website to look up Atlantic Money, and found:

"What this firm can't do

• Make payments for you by direct debit, debit card or bank transfer using credit, for example, an overdraft.
• Transfer money for you, for example, sending money overseas. This includes cash transfers."

I will look into this further but I don't  understand why, for a core service they provide, they wouldn't be authorised to to carry this out. 

wmb194

seanny said:

I went onto the fca website to look up Atlantic Money, and found:

"What this firm can't do

• Make payments for you by direct debit, debit card or bank transfer using credit, for example, an overdraft.
• Transfer money for you, for example, sending money overseas. This includes cash transfers."

I will look into this further but I don't  understand why, for a core service they provide, they wouldn't be authorised to to carry this out. 

Two months on and you're still worrying about the non-banks: for your peace of mind I'd suggest you use a bank and eat the cost.

danny13579

seanny said:

Atlantic money say there is flat fee of 3 pounds per transfer.

Would you be able to do lots of smaller transfers to avoid risk? 

The first transfer you do with Atlantic is free. Then it's a flat fee of £3 per transfer.

You can also upgrade to instant transfer for 0.1% of the amount being transferred.

There are also limits as to how much you can send every 30/180 days, but there are ways to get your limit upped.

So you could transfer the entire €250k in one go as your first transfer for free. Of if you feel that's too risky for you, you could break it up into smaller amounts, get the first transfer for free and then pay £3 for each transfer.

seanny

£/€850 per 30 day rolling period

£/€2,500 per 180 day rolling period

I'm not sure what that means. 

grumpy_codger

This means how much you can transfer. Not that much really...
https://support.atlantic.money/en/support/solutions/articles/101000449210-what-are-my-sending-limits-

pecunianonolet

Most liklely the lower limits are for everyone and for higher limits they want more info for AML purposes and to understand source of funds so i think contacting them will allow you to get a higher limit. 

wmb194

seanny said:

£/€850 per 30 day rolling period

£/€2,500 per 180 day rolling period

I'm not sure what that means. 

It's not clear? "This is the verification tier your account starts on £/€850 per 30 day..." then, "Plus: You can upgrade to this tier by performing a selfie-ID check and answering some questions about you and your account £/€30,000 per 30 day..."

danny13579

seanny said:

£/€850 per 30 day rolling period

£/€2,500 per 180 day rolling period

I'm not sure what that means. 

Have you converted any of the money yet to euro? It's over two months since you first posted about this. You seem very unsure and nervous about e-money financial platforms such as Wise and Atlantic.

You may be better off just transferring the money from Lloyds (£) to Bank of Ireland/AIB (€) and just accepting their rates and fees, which will be worse than what the platforms offer, but may help you with your peace of mind and just getting it done.