Are you an expat if you move to Ireland?
Many would argue that moving just across the sea to Ireland does not count as moving overseas and that British people who move there are not necessarily expats. That argument is by no means untrue, however, there is also considerable justification to argue in opposition.
As with moving to any other country, Ireland has a different currency to ours, the euro. This means that just like any other case of moving countries, your money and finances will all have to be transferred over to a different currency bank account for you to use. Some British banks do have branches in Ireland and therefore some of the costs which are potentially involved may not be appropriate to you but in all cases, you will still have the costs of exchanging your pounds for euros. This is usually the process which incurs the transfer fee and the exchange rate is also a big factor which could cost you a lot of money.
Banks charge a transfer fee for currency exchanges and they also offer ‘tourist’ exchange rates, whereas you could use a foreign exchange broker like RationalFX who can offer some of the best rates on the market. They can save as much as 10% when compared to other money transfer providers as they make their money from bulk buying currency at a good rate, allowing them to pass that rate on to their customers. See how much money you can save with RationalFX when transferring your money to Ireland.
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