AI agents for business finance: what they can and can't do
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The short answer
You have two choices: receive sterling to GBP account details (a UK sort code and account number, or a GBP balance in a multicurrency account) and convert when you choose, or give the UK payer your Irish euro IBAN and accept conversion on the way. Receiving pounds to GBP details avoids a forced conversion at the sender's rate; paying straight to a euro IBAN is simpler but someone converts at a rate you do not control.
Many Nigerians in Ireland arrived through the UK or still have money coming from there: a UK salary while working remotely, rent from a flat in England, a UK pension, or family who send sterling. The money has to cross a currency border, and the question is who converts it and when.
Option 1: receive sterling to GBP details
A UK payer can send sterling by domestic UK transfer to any account with a UK sort code and account number. That account can be:
- A UK bank account you kept after moving. Whether you can keep it depends on the bank; see keeping a UK bank account after moving to Ireland.
- A GBP balance in a multicurrency account. Wise, for instance, lists GBP among the eight currencies for which it provides local account details, and says the currencies you can receive depend on where you live.
- A sterling currency account at a bank. HSBC UK's explainer, for example, requires an active HSBC current account and says currency accounts come without a debit card.
The advantage is control. The pounds arrive as pounds, and you convert to euro on a day and at a rate you have seen, or you keep them for UK spending, UK bills or trips.
Option 2: take payment straight to your Irish euro IBAN
A UK payer can also send to your Irish IBAN. Then one of three things happens: the sending bank converts pounds to euro at its rate, the receiving bank converts on arrival at its rate, or a payment service in the middle does it. Each may add a fee, and intermediary banks may deduct a charge. Many UK employers and pension payers will only pay into a UK account or will choose the conversion themselves, so ask them how they handle payments abroad.
What each route costs
Example only: a UK payer sends you £1,500. The mid-market rate on the day is €1.15 to £1, which would give €1,725.
| Example only | Converted by the payer's bank | Received as GBP, converted by you |
|---|---|---|
| Rate applied | €1.12 (example) | €1.145 (example) |
| Euro before fees | €1,680.00 | €1,717.50 |
| Fees (example) | €15 incoming charge | €4 conversion fee |
| Euro received | €1,665.00 | €1,713.50 |
| Cost against mid-market | €60.00 | €11.50 |
The figures are illustrations. What matters is the method: compare the euro you finish with against the mid-market value, not the headline fee.
Records and tax
Revenue says people who are resident and domiciled in Ireland are chargeable on worldwide income, so UK salary, rent, interest or pension received while you are Irish-resident is normally declared in Ireland, with any relief for UK tax depending on the rules for that income. Revenue's residence test is 183 days or more in the tax year, or 280 days across the current and previous year. Keep, for each payment:
- The UK payslip, rental statement or pension statement.
- The date and amount received in sterling.
- The conversion confirmation with the rate and fee, if you converted.
Cross-border workers paid from Northern Ireland have their own relief; see paid in sterling by a Belfast employer. This is information, not tax advice.
Steps to set it up
- List every regular sterling payment you expect: salary, rent, pension, family transfers, and who sends each.
- Ask each payer whether it can pay a UK sort code and account number only, or also an Irish IBAN, and whether it converts.
- Choose where the pounds will land: a UK account you kept, or a GBP balance with UK details in an account you can use from Ireland.
- Update the payer with the new details in writing, and check the name on the account matches their records exactly.
- For the first payment, note the amount sent, the amount received and any deductions, so you know the real cost of the route.
- Decide a rule for converting, for example converting monthly after bills in sterling are paid, rather than converting by default on arrival.
Common problems
- Payer only pays UK accounts. Ask whether a UK-details GBP balance is acceptable; many payroll systems only need a sort code and account number.
- Name mismatch. The account name must match what the payer holds; differences in middle names or spelling can delay payment.
- Conversion you did not ask for. If a sterling payment arrives as euro with a poor rate, ask which bank converted and whether you can receive in GBP next time.
- Account closed after you moved. Tell your UK bank you have moved; some banks restrict or close accounts for non-residents.
Where Pryme fits
A Pryme personal account, which can be opened from Ireland, holds GBP and EUR (as well as USD and NGN) with local details for each, so sterling can arrive as sterling and stay that way until you convert with Swap. The rate is shown first and the fee on its own line, and nothing converts until you approve. Outside Nigeria, activities are carried out through regulated partners. See the multicurrency account and how the account is secured.
Questions people ask
Can my UK employer pay my salary into an Irish account?
Some will pay to an Irish IBAN; many prefer a UK sort code and account number. Ask the payroll team, and if they need UK details, a GBP balance with UK details may work.
Is it cheaper to receive pounds or euro?
Usually you keep more if you receive pounds and convert yourself at a rate you can see, but compare the total euro received against the mid-market rate in both cases.
Do I pay Irish tax on UK income?
If you are resident and domiciled in Ireland, Revenue says worldwide income is chargeable. Relief for UK tax depends on the type of income. This is information, not advice.
Will an intermediary bank take a fee?
It can on international transfers. Domestic UK transfers to UK details usually avoid that step.
Sources
- Nigerian naira account alternatives, Wise · accessed Oct 2026
- What is a currency account?, HSBC UK · accessed Oct 2026
- Tax residence, Revenue (24 Nov 2025) · accessed Oct 2026
- Resident for tax purposes, Revenue (24 Nov 2025) · accessed Oct 2026
- Can you keep your UK bank account when moving abroad?, Wise blog (17 Aug 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.