Going to England next week whats the best option for getting sterling

jmorrisey

Load up my AIB credit card (to put in credit) and withdraw sterling at ATM or get sterling from post office (anyone know the current rate theyre offering?) ??

Any advice greatly appreciated

uncle betty

jmorrisey wrote: »

Load up my AIB credit card (to put in credit) and withdraw sterling at ATM or get sterling from post office (anyone know the current rate theyre offering?) ??

Any advice greatly appreciated

Don't know what the PO are offering, but I heard from a work colleague that they are charging zero commission.

Whereas I wouldn't be surprised if the ATM's fleece you, whatever card you use.

sandin

uncle betty wrote: »

Don't know what the PO are offering, but I heard from a work colleague that they are charging zero commission.

Whereas I wouldn't be surprised if the ATM's fleece you, whatever card you use.

Zero commission usually = a bad rate. Best option is to use your laser card in an atm in the UK.
Current consumer rate is about €1.16 for each £1

matchthis

Not totally up on how getting other currencies work, but was in the post office last Thursday and had a poster saying us dollar and uk pound were commission free if it's any help

sgb

The Post Office's in the UK is an option, good rate zero commission' if you load your credit card check that the loaded amount on the card is covered due to loss or theft. The one place to avoid is the change facilities at Dublin Airport. I was lucky enough to know someone that works in a bank and they changed my euros for sterling, got the staff rate and no commission. Finally if you are going to England make sure you get English sterling as opposed to Scotish or Northern Ireland sterling I know it's legal tender but people won't take it

Cool Mo D

Commission free is pretty meaningless - no commission generally means crap exchange rate.

If you withdraw from your maestro/cirrus atm card in the UK, you will get as good rate as pretty much anywhere, but there will be a flat fee of 1.50ish for each withdrawal added on top, so you might have to make 1 or 2 biggish withdrawals instead of lots.

If you put money on your credit card in advance, you can withdraw fee free.

Another thing when using a credit card, if you are offered a choice to pay in pounds or euro, ALWAYS choose pounds (or whatever the local currency is), as you will get a better rate from your own bank.

Also, avoid changing money in airports if you at all can.

uncle betty

Cool Mo D wrote: »

Commission free is pretty meaningless - no commission generally means crap exchange rate.

If you withdraw from your maestro/cirrus atm card in the UK, you will get as good rate as pretty much anywhere, but there will be a flat fee of 1.50ish for each withdrawal added on top, so you might have to make 1 or 2 biggish withdrawals instead of lots.

If you put money on your credit card in advance, you can withdraw fee free.

Another thing when using a credit card, if you are offered a choice to pay in pounds or euro, ALWAYS choose pounds (or whatever the local currency is), as you will get a better rate from your own bank.

Also, avoid changing money in airports if you at all can.

Good to know. Thanks for that.

jmorrisey

Thanks for all the help. planning on puttin the credit card into credit but will i get charged by the english atm for the transaction?

dudara

Moved to Banking & Insurance & Pensions

dudara

Jet Black

jmorrisey wrote: »

Thanks for all the help. planning on puttin the credit card into credit but will i get charged by the english atm for the transaction?

Just remember that the if you put money on a credit card beyond the limit it wont be covered if the money is stolen from the card. Even if you are in a plus on your card you may be charged for a cash withdrawal, depends on the bank.

When withdrawing from outside of Ireland you'll be charged for the withdrawal and whatever the rate is on the day. You wont know until for a couple of days what the rate is. I don't think the ATM will charge, it should say on the machine.

Random

"If you put money on your credit card in advance, you can withdraw fee free. "

this is not always the case. check your t&c.

BuffyBot

Indeed, not all cards let you do that. Some charge even when in credit.

Butch Cassidy

Credit unions.