Bank Money Transfer from UK Accounts to Rabodirect
Send money from a UK bank account to Rabodirect in Ireland and achieve the very best UK pound to euro currency exchange rates. The best alternatives for sending funds from the UK to a Rabodirect bank account in Ireland, a currency broker will save you time and money on the transaction.
About Rabodirect Bank
Rabodirect launched in Ireland in May 2005, have over 90,000 customers and are growing every day. Rabodirect’s parent bank Rabobank, is a Dutch co-operative bank, founded over 110 years ago in 1898. Being co-operative means they have no shareholders and, therefore not driven by the short term gains. This enables Rabodirect to act with their customers best interests in mind all of the time.
Rabodirect offer simple, honest banking services and savings accounts to Irish and international individuals and they’re licensed by the Dutch Central Bank and fully comply with the codes of practice set out by the Central Bank in Ireland.
Euro Currency Transfer to/from Rabodirect in Ireland
Making a transfer to or from the euro using a bank service could potentially lose you thousands of pounds due to the poor FX margin rate offered. Private currency brokers offer a much more competitive rate of exchange. Example: Currency broker TorFX are one of the UK’s leading and largest foreign currency exchange specialists assisting private individuals and businesses with their foreign currency transfers to and from most countries worldwide. TorFX v traditional bank exchange rates:
| Company Name | FX Rate | GBP to EUR | FREE Quote |
|---|---|---|---|
| TorFX | *0.7% | €1.125 info | Enquire |
| Rabodirect | *5.2% | €1.074 info | Enquire |
| Typical Bank Rates | *1.9 to 6.2% | €1.063 to €1.111 info | Enquire |
UK pound sterling (GBP) to euro (EUR) currency rates are updated daily at 09:00 GMT. Data source – ECB
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from euro. Specialist foreign exchange companies including the ones listed below can save you money and time on the transaction.
UK bank to Rabodirect account v Currency Brokers
1: Bank money transfer information: General Guidelines – High street banks also charge a commission fee when sending money abroad into another currency – Private brokers offer commission free currency transfers typically over a value of £5000 or €5665.133 euro. Bank transfer commission fees range from £15 to £30 depending on the bank.
2: Unless you pay a premium, high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.
Sending Money Abroad with Rabodirect
To transfer funds abroad from your Rabodirect account, you have to give the beneficiary’s IBAN and BIC to the bank. There are two types of transfers:
1: Euro Transfers: transfers exclusively in euros for amounts less than or equal to EUR 50,000 within the European Union, including the precise bank details of the beneficiaries (i.e. BIC and IBAN).
2: International Transfers: any transfers within or to countries outside the European Union (other currencies, no IBAN, etc.)
International transfer requests may be submitted by fax as long as you have signed a request at your local Rabodirect branch.
