Best Exchange Rates
One problem for people who come to work in Ireland from abroad – is finding the cheapest best way to send money back home. The same problem exists for workers who leave Ireland to work abroad. If you have a Euro bank account in your home country – then sending Euros back will not be a problem – either by cheque or internet banking.
For non Euro countries – the foreign exchange rates and charges by many of the banks can be quite expensive. Converting Euros to Sterling or Polish Zloty usually involves admin fees , commission and also banks do not have the best exchange rates.
If you can – it is best to exchange large amounts of Euros instead of small amounts. There are specialist currency brokers who will give you the best exchange rates on larger amounts – better than your bank or building society. You could save around 1c in every hundred euro – so on 5000 euro you may save as much as 50 euro. Obviously on larger amounts – such as the proceeds of a house sale you could save several hundreds of euro. If you are moving to Ireland to work and have sold a property in the UK or Poland – or any country that is not part of the Euro – you would be much better off using a currency broker to exchange your money into Euros.