Table of Contents
Last updated: July 2026
This is an independent comparison. We don’t currently have affiliate partnerships with any provider named below, so nothing here is a paid placement.
The cheapest way to make an international money transfer from Ireland is almost always a specialist app like Wise or Revolut rather than your bank, because banks build a hidden margin into the exchange rate on top of any fee they show you. Which one actually wins depends on the amount, the currency and how fast you need it there.
Quick Comparison
| Provider | Fee (SEPA/euro) | Fee (non-euro) | Exchange rate | Regulator |
|---|---|---|---|---|
| Wise | From ~€0.50 fixed, scales with amount | Small % + fixed fee | Mid-market rate, no markup | National Bank of Belgium (passported into Ireland) |
| Revolut | Free (Revolut-to-Revolut, and within your plan’s monthly limit) | Free within limit, then 0.5% | Mid-market rate within limit; markup outside it or at weekends | Bank of Lithuania & ECB; conduct regulated by Central Bank of Ireland |
| AIB | Free for standard SEPA | €15 standard, €22.50 urgent | Bank’s own rate, includes a margin | Central Bank of Ireland |
| Bank of Ireland | Free/€0.50 to EEA & UK | €5 plus FX margin | Bank’s own rate, includes a margin | Central Bank of Ireland |
Figures for AIB and Bank of Ireland are the banks’ own published online rates as of mid-2026, checked directly against their fee schedules.
Why the Fee Isn’t the Real Cost
The number a provider shows you upfront is rarely what the transfer actually costs. Banks routinely advertise a low or “free” fee and then quietly build a 2-4% margin into the exchange rate itself. On a €2,000 transfer, that’s €40-€80 disappearing before your money’s even converted, and you’d never see it on the fee page.
Wise and, within its free monthly limit, Revolut do things differently: they use the mid-market rate (the real rate you’d see on Google or Reuters) and charge their margin as a visible, separate fee instead of hiding it in the conversion.
Common mistake: Comparing two providers’ “fees” side by side without checking their exchange rates. A €0 fee with a 3% rate markup is more expensive than a €5 fee with no markup on anything over about €170.
Provider by Provider
Wise
Wise shows the mid-market rate with a transparent fee on top, typically a small percentage plus a fixed charge that varies by currency route. For €1,000 to a common currency, the total cost usually lands well under €10. It’s a European Payment Institution regulated through the National Bank of Belgium and passported to operate in Ireland, and it holds customer funds in safeguarded accounts separate from its own.
Downside: it isn’t a bank, so your balance isn’t covered by a deposit guarantee scheme the way money in an Irish bank account is.
Revolut
Free transfers within your plan’s monthly exchange limit on weekdays, at the mid-market rate, make Revolut genuinely the cheapest option for smaller, regular transfers. Go over your monthly limit, or send on a weekend, and a markup of roughly 0.5-1.5% kicks in. Revolut Bank UAB is licensed by the Bank of Lithuania and the European Central Bank, operates as a bank in Ireland through a branch, and deposits are covered up to €100,000 under Lithuania’s deposit guarantee scheme.
Downside: the “free” tier is genuinely limited, and the weekend markup catches people out.
AIB
Standard euro SEPA payments are free through AIB’s Paylink Euro service. Anything outside the euro or SEPA zone costs a €15 standard fee (€22.50 urgent), and that’s before AIB’s own exchange rate margin is applied, which isn’t published as a fixed number and moves with the market.
Downside: for anything outside SEPA, you’re very likely paying more than a specialist app for the same transfer.
Bank of Ireland
Similar shape to AIB: euro payments to the EEA and UK are free or near-free, but non-euro transfers cost a flat €5 fee plus a foreign exchange margin that Bank of Ireland doesn’t display as a single transparent number upfront.
Downside: the €5 fee looks cheap next to Wise or Revolut, but the hidden margin usually makes the total cost higher on anything but very small amounts.
Which One Actually Suits You
- Sending a small, occasional amount abroad: Revolut’s free tier, if you’re within the monthly limit and not sending on a weekend.
- Sending a larger or one-off amount: Wise, for the transparent fee and no rate markup regardless of size.
- Sending euros to another eurozone country: any Irish bank, via standard SEPA, which is genuinely free and just as fast.
- Need cash picked up in person, not a bank deposit: none of the above cover this well; a dedicated cash-pickup service is a separate category, worth its own comparison.
Tax and Reporting: What Actually Applies
Two things get confused constantly here.
Carrying physical cash of €10,000 or more across an EU external border requires a customs declaration, under Revenue’s cash controls rules. This applies to cash you physically carry, not to a bank or app transfer.
Electronic transfers through a bank or a regulated app like Wise or Revolut have no equivalent public declaration threshold for the sender. The provider carries out its own anti-money-laundering checks in the background and may ask you where the money came from on larger transfers, but there’s no number you personally have to self-report.
Where tax can genuinely apply is if the money you’re receiving is a gift or inheritance rather than your own funds moving between your own accounts. Capital Acquisitions Tax is charged at 33% on the value above your tax-free threshold, which depends on your relationship to whoever sent it: €400,000 from a parent, €40,000 from a sibling or grandparent, or €20,000 from anyone else, with a separate €3,000-a-year small-gift exemption per person on top.
Common Mistakes to Avoid
- Comparing headline fees without checking the exchange rate behind them
- Assuming your bank’s “free” transfer is actually free
- Sending on a Revolut weekend without checking whether the markup applies
- Forgetting that registering as a “gift” for tax purposes is about your relationship to the sender, not the transfer method
Frequently Asked Questions
Is Wise or Revolut cheaper for sending money from Ireland?
It depends on the amount and the day. Revolut is usually cheaper for smaller transfers within your monthly free limit on a weekday. Wise is usually cheaper once you’re over that limit, sending on a weekend, or moving a larger amount, since its fee structure doesn’t change with timing.
Do I pay tax on money I send to myself abroad?
No. Moving your own money between your own accounts, in your own name, isn’t a taxable event. Tax only becomes relevant if the money is a gift or inheritance from someone else.
Is it safe to use an app like Wise or Revolut instead of a bank?
Both are regulated financial institutions, just not by the Central Bank of Ireland directly in Wise’s case. Revolut operates as a licensed bank with deposit protection up to €100,000. Wise safeguards customer funds separately from its own but isn’t covered by a deposit guarantee scheme, since it isn’t a bank.
What to Do Now
- Work out roughly how much you’re sending and how often, since that decides which provider actually wins.
- Check the live exchange rate quoted at the point of sending, not just the fee, before you confirm any transfer.
- If the money you’re receiving is a gift rather than your own funds, check where you sit against the Capital Acquisitions Tax thresholds above.
If you’re new to Ireland and still setting up your finances here, our guide to opening a bank account in Ireland and our roundup of the best banks in Ireland are good next stops.
This is general information, not financial or tax advice. For anything involving a large sum or a specific tax question, get advice from an accountant or the relevant provider directly.
