| Sending funds to an individual or business in a European country Immigrant in Ireland sending funds home Parent funding son/daughter in european country Gift to an individual in Europe Business payment for imported goods | SEPA Cross-border credit transfer directly into the destination account in the destination country. You must have the IBAN & BIC numbers for the payees account. Charges will be minimal for transactions under €50,000, and is denominated in euro. If the payee is in a non-euro country, higher charges will apply | If the payee has an account in an Irish bank, lodge funds to it and draw the funds in cash from an ATM in the destination country. Charges will apply Consider services from An Post, Western Union, etc | Irish Cheque - An Irish cheque will not be accepted for lodgment in another country. A bank may (reluctantly) accept the cheque for collection. This will lead to delays in payment and high bank charges in the destination country. Draft - You can get a draft drawn on Dublin or on the capital city of the destination account. However, clearing of drafts is a slow process in many countries and involves high charges to the payee |
| Purchase goods online | Paypal, if both you and the online retailer have paypal accounts Credit card | Cross-border credit transfer, if accepted by the online retailer | Any other option |
| Sending funds to an individual or business in a non-european country | International credit transfer directly into the destination account in the destination country. Some countries use IBAN & BIC account numbers – others have local numbering systems. You will need the name and address of the payee, and of his bank | Consider services from An Post, Western Union, etc | Draft - You can get a draft drawn on Dublin or on the capital city of the destination country. However, clearing of drafts is a slow process in many countries and involves high charges to the payee. Drafts for smaller countries may be denominated in US Dollars, euro, or other strong currency |
| Expecting incoming payment from another country | If you are exporting goods/services you should provide your account details and/or IBAN & BIC to the payer. Ideally you should show this on your invoice. The payer will pay the amount by cross-border credit transfer. You can request that the charges be paid by you, shared, or by the recipient. In the latter case, the recipient will receive an amount less all charges. These options are referred to in banking jargon as OUR, BEN, and SHA If you are a private individual, you should provide your account details to the payer. You will find both of these on your bank statement | | |
