|ULSTER BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||3.0%||€1.162|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||3.0%||£0.81|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.189|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.829|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Ulster Bank services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when transferring money or payments overseas from your Ulster Bank account in euros, the UK pound and other currencies. Ulster Bank international money transfers to or from Ireland have higher transaction charges, due to a less competitive exchange rate offered by Ulster Bank. Skip to: Ireland Money Transfer Specialists
Typically, sending funds to or from your Ulster Bank account in euros, the UK pound or US dollar overseas bank account will involve a margin rate of 3.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Ulster Bank account in Ireland needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euro (EUR) using Ulster Bank services would have a transaction exchange rate margin of around 3.0% – or 3,000 EUR. Using a specialist broker, in this example 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.
International money transfers from Ulster Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Ulster Bank account holder to use their services. Ulster Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000.
Unless you pay a premium, Ulster Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Ulster Bank was created in 1836 and today is one of the largest banks in Ireland with over 140 local banking branches and also around 100 branches in Northern Ireland, serving 2 million customers. Ulster Bank is owned by the UK’s Royal Bank of Scotland Group (RBS).