Bank of Ireland Currency Rates and Transfer Options

Bank of Ireland offers a range of currency rates and transfer options to suit your needs.

For online transfers, Bank of Ireland offers a competitive exchange rate, with no commission fees for transfers over €10,000.

You can transfer money online, over the phone, or in-branch, with Bank of Ireland's online transfer service offering a faster and more convenient option.

Transfers can be made to over 200 countries worldwide, with Bank of Ireland's international payment service.

For Irish businesses, managing foreign exchange rates can be a significant challenge, especially when it comes to import/export payments and overseas earnings. Many Irish companies have to deal with exchange rates that can go against them, reducing their profits significantly.

Irish businesses can be vulnerable to exchange rate fluctuations, which can impact their bottom line. The impact can be substantial, especially for those with international trade operations.

To mitigate these risks, it's essential for businesses to stay informed about the latest exchange rates, such as the Sterling to Euro Exchange Rate.

If you're considering international currency transfers with Bank of Ireland, be aware that the exchange rate can be steep, involving a margin or exchange rate of around 4.3% on top of additional bank transaction or commission fees.

Bank of Ireland's international currency transfer rates are significantly higher than what you'd find with money transfer providers, which typically range between 0.45 to 1.0%.

This means that using Bank of Ireland for international currency transfers might not be the most cost-effective option, especially when compared to specialized money transfer services.

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Currency conversion fees can be a significant expense when traveling or shopping abroad. The fees for non-euro transactions on the MoneyManager Debit card are as follows.

For ATM withdrawals, the currency conversion fee is 1% of the transaction value, with a minimum fee of €1.91 and a maximum fee of €6.00.

These fees apply to using a Debit card for purchases in a foreign currency, with a currency conversion fee of 1% of the transaction value, and a minimum fee of €0.30 and a maximum fee of €6.00.

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All foreign exchange rates are updated twice daily, on any business day, to ensure the most up-to-date rates.

You should be aware that Mastercard will convert your payment to euro using the exchange rate that applies on the day the transaction hits your account, which may not be the same as the day of the transaction itself.

This means that the amount you see at the time of the transaction may not be the same as the amount that appears on your account.

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High street banks like Bank of Ireland charge an additional commission fee when sending money abroad into another currency.

Using a private broker, on the other hand, can save you money. Specialist foreign exchange companies like TorFX can save you a significant amount on exchange rate margins, with a typical savings of 3.6% compared to Bank of Ireland's 4.3%.

International money transfers sent via Bank of Ireland could take longer to arrive than using a private broker. Private foreign exchange companies typically complete transactions between 1 to 3 days, while Bank of Ireland takes from 3 to 7 days, unless you pay a premium.

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A typical overseas currency transfer of 100,000 euro using Bank of Ireland services would have a transaction exchange rate margin of around 4.3% – or 4,300 EUR. Using a specialist broker, like TorFX, the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.

Private brokers often offer commission-free currency transfers for all transactions that meet their minimum transfer amount.

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If you're looking to transfer money internationally with Bank of Ireland, be aware that their rates are not the most competitive.

International currency transfers to or from your Bank of Ireland account in the euro, UK pounds, US dollars, and many other popular currencies will involve a margin or exchange rate of around 4.3%.

This means you'll pay a significant amount extra compared to using a money transfer provider, which can save you a substantial amount of money.

Bank of Ireland international currency transfer rates are much higher than most money transfer providers, with their rates ranging between 0.45 to 1.0%.

Bank of Ireland's euro exchange rates are not the best option for international money transfers or overseas payments. You can beat their rates with other providers.

Currencies Direct offers a competitive rate of £0.822 to £0.825 for EUR to GBP, and $1.04 to $1.043 for EUR to USD. TorFX also offers a rate of £0.824 for EUR to GBP, and $1.043 for EUR to USD.

Wise is another option, with a rate of £0.826 to £0.826 for EUR to GBP, and $1.044 to $1.046 for EUR to USD. The minimum transfer and fee information for these providers is not available in this comparison.

Bank of Ireland's rates are significantly lower than the other providers, at £0.795 for EUR to GBP, and $1.005 for EUR to USD. However, the TrustScore of Bank of Ireland is not available in this comparison.

Here is a comparison of the providers mentioned:

If you're looking to transfer euros to pounds or dollars, you can beat Bank of Ireland's exchange rates with providers like Currencies Direct, TorFX, and Wise.

These alternatives offer better rates, with Currencies Direct and TorFX offering exchange rates of £0.822 to £0.825 and £0.824 respectively for euros to pounds, compared to Bank of Ireland's rate of £0.795.

Wise, on the other hand, offers a more competitive rate for euros to dollars, with a range of $1.044 to $1.046, compared to Bank of Ireland's rate of $1.005.

Here are some of the best alternatives to Bank of Ireland for international money transfers:

Bank of Ireland's international currency transfer rates are much higher than most money transfer providers, with rates ranging between 0.45 to 1.0%, compared to Bank of Ireland's rate of around 4.3%.

Using a specialist currency broker can save you money and time on transactions. This is because they often have lower foreign exchange margin rates compared to banks.

For example, a typical overseas currency transfer of 100,000 euro using Bank of Ireland services would have a transaction exchange rate margin of around 4.3% - or 4,300 euro. That's a significant amount of money.

Using a specialist broker like TorFX, the exchange rate margin would work out at 0.7% - or only 700 euro in total. This is a huge saving over the bank service, equivalent to 3,600 euro.

Specialist foreign exchange companies often have international coverage and office locations, making them more convenient than banks.

The Euro to Pound exchange rate can significantly impact Irish businesses with import/export payments. For instance, as of February 20th, 2025, €1 EUR is worth £0.8287 Pounds.

Businesses in Ireland need to stay on top of exchange rates to manage their profits. If exchange rates go against them, it can reduce their profits significantly.

The current exchange rate of £0.8287 Pounds for €1 EUR means that £10,000 GBP is worth €12,067 Euro. This is a crucial fact for businesses to keep in mind when making transactions.

Checking the latest Sterling to Euro Exchange Rate information is essential for businesses to make informed decisions.

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