How to transfer large sums of money to the United States from Ireland

1. What is the best way to transfer a large amount of money to the US from Ireland

2. The steps involved in sending money to the USA

3. What details are needed to transfer money from Ireland to the US?

4. How long does it take to transfer money from Ireland to the US?

5. Why your high-street bank may not be the best choice for sending large cross-border payments

6. Get the Best EUR to USD Exchange Rate for Your Transfers

7. How Fexco can help 



Sending money to the United States from Ireland can be a straightforward process once you understand the steps involved and the associated costs.  

You now have more options beyond traditional banks, offering cheaper, easier, and often faster ways to send money internationally.    

MethodDescriptionSpeedAdvantagesDisadvantagesSuitable for large amounts
International Money Transfer Service Convenient services offering various payout options Quick- Lower fees and rates are often more favourable than the traditional bank.

- Often more accessibility to banks worldwide.

- Streamlined payment options.
Client is required to sign up to tradeModerate to Large amounts
ACH (Automated Clearing House) Using in country payment systemsSimilar to money transfers but through a network of banks. Requires bank-specific instructions.ModerateWide accessibility, lower feesSlower processing compared to some methodsModerate to large amounts.
Traditional Bank transfersDirect transfer between banks, requiring recipient's bank info. Quick, fees depend on institution.ModerateSpeed and reliabilityLittle transparencyLarge amounts.
Cash-to-Cash TransferDrop off cash for pickup at a transfer centre.QuickQuick access for the recipient, convenienceFees can be relatively high, limited to cashModerate to large amounts.
Prepaid Debit CardsTransfer funds via a debit card for recipient's use.QuickConvenient for recipient, versatile usageActivation or monthly fees may applySmall to moderate amounts.
Foreign Currency ChequeIssue cheques in foreign currency, sent to recipient's local bank.SlowSimple process, local bank accessibilitySlower processing, processing feesModerate to large amounts.



1. What is the best way to transfer a large amount of money to the US from Ireland

When transferring a significant amount of money to the United States of America from Ireland or vice versa, opting for a specialised money transfer service is often the best choice. 

This choice is primarily driven by the likelihood of securing a more favourable exchange rate in comparison to what a typical high street bank would offer. 

According to a recent survey conducted by, which involved over 4,205 consumers globally, individuals prioritise trust, security and transparency when selecting an international payments provider for their overseas transfers. 

Specialised payment providers are generally considered superior for international payments involving substantial sums due to their solutions that enhance security and reliability.  

Moreover, these providers offer dedicated and easily accessible support, a feature often lacking at digital banks and typical high street banks. 

Payment FX specialists utilise extensive relationships with banks and financial institutions to provide their clients with competitive exchange rates and reduced fees, outperforming the services of traditional banks. 

Their in-depth understanding of the foreign exchange market ensures clients can access personalised solutions, making them the preferred choice for cost-effective and streamlined cross-border transactions between Ireland and the United States of America. 


2. The steps involved in sending money to the USA:


Step 1 ‚Äď Identity Verification¬†

 Before initiating the money transfer from Ireland to the USA, your identity needs to be verified to comply with global anti-money laundering regulations. Typically, verification is quick and easy. You may be asked to provide: 

  • A copy of your passport/driver‚Äôs license and a recent utility bill as proof of address.¬†¬†

It is advisable to complete this step well in advance, even if you are not ready to transfer immediately. 


Step 2 ‚Äď Lock in an Exchange Rate (EUR to USD)¬†

The next step involves locking in an exchange rate for converting Euros (EUR) to US Dollars (USD). You will need to specify the amount of USD you wish to purchase. 

Your money transfer specialist will then provide a live quote for the EUR/USD exchange rate.  

Remember that no transaction will occur without your authorisation. If you decide to proceed, the specialist will secure the agreed-upon exchange rate for your transaction. 


Step 3 ‚Äď Submit your Euros¬†

Before the money transfer to the USA can take place, you will need to send in your Euros to the designated bank account of your payment processor. 


Step 4 ‚Äď Currency Conversion and Transfer¬†

Once your bank or money transfer specialist receives your Euros, the converted funds will then be transferred to the US bank account you have specified. 



3. What details are needed to transfer money from Ireland to the US?

You will need the following recipient’s bank details to send a payment from Ireland to the US: 

Information Description
Recipients full nameThe recipient’s complete name as it appears on their US bank account
Recipient’s address The recipient’s full address in the US 
Recipient’s bank nameThe name of the recipient's US bank  
Recipient Bank’s SWIFT/BIC The SWIFT or BIC (11 digits) code that uniquely identifies the recipient bank and its branch 
Recipient’s Bank ABA Routing number A unique nine-digit code used by banks in the United States to identify specific financial institutions within the country. (Can be used as an alternatively to SWIFT/BIC code)  
Recipient's Bank account number A unique account number can be used with the BIC or ABA routing number  

Do USA banks have IBAN?

IBANs are not a standard feature for all bank accounts. 

Financial institutions in the United States, Australia, China, and New Zealand typically do not employ IBANs; instead, they rely on routing numbers and SWIFT/BIC codes in conjunction with an account number to facilitate wire transfers.  

IBANs are primarily used in European banking systems, although certain countries beyond Europe also incorporate IBANs in their financial transactions. 


What is an ABA Routing number?

An ABA Routing Number is commonly known as a Routing Number, Bank Routing Number, or Routing Transit Number (RTN).  

An ABA Routing number is made up of 9 digits, it is used to identify the region where a financial institution/bank physically resides within the United States.  

Routing numbers are used to identify banks when processing domestic cheques, and electronic payments or wire transfers in the United States.  




4. How long does it take to transfer money from Ireland to the US?

As a general guideline, it takes around 2-3 working days for your USD to reach the United States with traditional banks. 

However, the actual duration can vary depending on the receiving bank in the United States. Some US banks may have their internal checks on incoming international funds, which can slow down the process.  

Additionally, the time taken can be delayed by one working day if your funds are sent in the afternoon, rather than the morning, as the daily cut-off time is typically around 2pm.   

Transferring money to the US from Ireland is quick, secure and cost-effective with Fexco. 

Some high street banks charge up to ‚ā¨20 extra if you need funds to reach the America account on the same day. At Fexco, there is no additional charge.¬†

Once you have registered and locked in your exchange rate with Fexco, and we have received your cleared Euro settlement funds, your USD can be delivered to the US on the same day at no extra cost, provided funds are sent before the cut-off time.    

Please note, that Fexco’s cut-off time to transfer funds is 2 pm daily. If you have a tight deadline to meet, and your Euros are received after the cut-off time the payment will be delayed until the next working day.   

Speak to our support team who can advise you on transfer times and they will keep you up to date on your payment.   

Get a bank-beating FX rate for your EUR to USD overseas payments

Get a quote



5. Why your high-street bank may not be the best choice for sending large cross-border payments:  

  • Cap on transfer amounts¬†¬†

Some of the larger banks in Ireland have daily online limits to how much you can send abroad for personal customers. Fexco does not apply a daily limit on the amount you can transfer.  

BankDaily online limitCost per transaction
Permanent TSB‚ā¨10,000Outside of the EU ‚ā¨31.50 + FX rate markup
Bank of Ireland (BOI)‚ā¨20,000‚ā¨5 + FX rate markup
Allied Irish Bank (AIB)‚ā¨10,000‚ā¨6.35 + FX rate markup for amounts over ‚ā¨127

  • Poor rates and fees:¬†

Traditional banks often offer less competitive exchange rates and higher fees for international money transfers. 

On average, traditional banks charge transfer fees ranging from ‚ā¨20 to ‚ā¨40 per transaction, and their exchange rates can have a markup of up to 5% above the mid-market rate.¬†

For example, if you‚Äôre purchasing a property in the USA valued at ‚ā¨500,000 from Ireland, a 5% markup on the exchange rate could cost you an additional ‚ā¨25,000.¬†

Opting for specialised providers like Fexco, on the other hand, can result in significantly lower fees and competitive transparent FX rates, potentially saving you thousands on large transactions. 


  • No dedicated support¬†

Traditional banks lack specialised customer support for international transactions, as they offer a wide array of services, making their staff less knowledgeable in this area.  

According to the Irish Times, Irish bank customers have faced frustratingly long waits for telephone support, enduring delays of up to two hours.   

A review released by the Central Bank revealed that as many as 50% of one bank’s customers opted to disconnect their calls before reaching a human representative, underscoring serious inefficiencies in customer service within the banking sector.   

Neo banks, while technically advanced, may not always handle complex issues well via online channels. Customers often prefer direct phone or in-person assistance.  

For transfers over ‚ā¨5,000, using a specialist like Fexco ensures peace of mind. We provide real-time updates and immediate assistance over the phone for any concerns, ensuring a smooth transaction process.¬†


6. Get the Best EUR to USD Exchange Rate for Your Transfers

Converting your Euro to US Dollars demands careful consideration of market fluctuations, as even slight changes can significantly impact the amount you receive. Minor FX rate movements, a mere 1-2% shift, could result in substantial differences in the US Dollars you obtain, especially for larger transfers exceeding ‚ā¨5,000.¬†

High-Street BankFX Transfer Providers
Advantages: ConvenientAdvantages: Cost-effective, dedicated account manager providing support when you need it and better technology
Disadvantages: High fees, unfavourable exchange rates, limited assistance, legacy technologyDisadvantages: Registration is required.
Suitable for: Smaller transfer payments (less than ‚ā¨5,000)Suitable for: Larger transfers (exceeding ‚ā¨5,000).


At Fexco, our team of experts constantly monitors the market and will promptly notify you when the EUR to USD exchange rate reaches an optimal level at your request. Ensuring you maximise your funds.  

Unlike high-street banks, our specialised service offers cost-effective transfers, a dedicated account manager for personalised support. 

While high-street banks may charge high fees and provide limited assistance, our tailored approach provides a seamless experience for our customers. 

When transferring a significant amount of money to an overseas bank account, peace of mind is paramount. When selecting a payment provider, ensure the service is regulated.  

You can find a list of authorised payment providers in the Central Bank of Ireland register. 


7. How Fexco can help 

Fexco Corporate Payments Limited (t/a Fexco Corporate Payments) is regulated by the Central Bank of Ireland and is also regulated by the Financial Conduct Authority for the conduct of payment business in the UK. 

Fexco specialises in cross-border bank-to-bank transfers for property purchases/sales, repatriating salary/pensions/investments, regular transfers between bank accounts, and commercial FX solutions for business clients. 

If you are transferring a significant sum of money to a bank account in the United States, our team will guide you through the process from start to finish. 

If you need to make regular transfers to the United States, our online payments platform PayDirect facilitates transfers at your convenience, allowing you to manage transactions without leaving your home. 



Get a free EUR to USD quote today


Check out similar articles in this series  

How to transfer a large sum of money to Canada from Ireland 

Sending large sums of money to Australia from Ireland: A quick guide 

How to transfer large sums of money to New Zealand from Ireland 


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