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Currency Exchange

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  • 22-06-2011 2:59pm
    #1
    jacknife
    Registered Users Posts: 220 ✭✭


    I been over and back to the UK for the past 6 years working.

    I've managed to save up £7,000 in cash, now i'm finished visiting the UK i would like to get it changed.

    What's the best way about it, I feel a bit uncomfortable bringing it to the bank and saying heres £7k please change it to Euros is there a currency broker I can bring it to or is the bank the best way to go?

    how do i get the best exchange rate


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    #2
    user1842
    Registered Users Posts: 1,112 ✭✭✭user1842


    I would setup a xe.com currency account and do it that way. A good way to get the best rate.

    Or if you can find a student as I think AIB give commission free FX to students.


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    #3
    ravima
    Registered Users Posts: 848 ✭✭✭ravima


    I've used currencyfair and found it grand.


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    #4
    jacknife
    Registered Users Posts: 220 ✭✭jacknife


    Thanks for that info

    The only problem is none of them do cash transactions, that's my problem


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    #5
    user1842
    Registered Users Posts: 1,112 ✭✭✭user1842


    jacknife wrote: »
    Thanks for that info

    The only problem is none of them do cash transactions, that's my problem

    Can you not lodge it to a UK account and do an electronic transfer to xe or whatever you choose. Thats if you have a UK bank account. I assume you have due to your 6 years travel back and forth.

    Also why are you keeping 6 grand in cash. Sounds risky to me.


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    #6
    jacknife
    Registered Users Posts: 220 ✭✭jacknife


    dmclean1842 wrote: »
    Can you not lodge it to a UK account and do an electronic transfer to xe or whatever you choose. Thats if you have a UK bank account. I assume you have due to your 6 years travel back and forth.

    Also why are you keeping 6 grand in cash. Sounds risky to me.

    That's the thing, I was over maybe once or twice a month got paid about £200 or £300 per day

    I saved a bit here and there with an idea of an currency investment, now the work has dried up, as I'm a non UK resident I can't open an account

    I've no problem going to my own bank it's just the explaination and funny looks, I know I'm not going to make much on it


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    #7
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    Just bring it to your own branch. I'd be cheeky enough myself to ask for a deal on it. You could possibily get a better rate and no commission. No harm in trying. I'd say you'd get between 8k to 8500 for it.


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    #8
    random.stranger
    Registered Users Posts: 442 ✭✭random.stranger


    Another option might be to open a sterling account in your local branch & then use xe.com to convert.

    If you decide to convert it in your branch:
    I remember asking about this a few years back & was told the banks will offer better rates for larger amounts. Don't be afraid to shop around.


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