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Buying Dollars without an Account

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  • 19-07-2011 10:32pm
    #1
    Fol20
    Registered Users Posts: 3,624 ✭✭✭


    Hi all i was wondering do you have to have an account with the bank to buy dollars..?

    Ill be going to the states in a month so need to get me some $$


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    #2
    onemorechance
    Registered Users Posts: 3,078 ✭✭✭onemorechance


    You do not need to have an account, just cash to exchange!


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    #3
    Cherry Blossom Girl
    Registered Users Posts: 713 ✭✭✭Cherry Blossom Girl


    As far as I'm aware, no you don't. Also, FYI some post offices are now selling dollars commission free for a limited time, might be worth checking if one near you is offering it. Check anpost.ie for a list of participating post offices :)


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    #4
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Some banks have a limit on the amount they sell before it must be out through an account.


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    #5
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    Yea i know An post do it but their values are v.bad...

    1e = 1.36 on An post
    while it should be
    1e = 1.41ish

    Does anyone know the values in the bank if i can buy them that way


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    #6
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Rates changed daily sometimes a few times a day.


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    #7
    i71jskz5xu42pb
    Closed Accounts Posts: 1,806 ✭✭✭i71jskz5xu42pb


    Fol20 wrote: »
    Does anyone know the values in the bank if i can buy them that way

    The banks will know, why not given them a call?


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    #8
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Fol20 wrote: »
    Yea i know An post do it but their values are v.bad...

    1e = 1.36 on An post
    while it should be
    1e = 1.41ish

    Does anyone know the values in the bank if i can buy them that way

    Usually An Post's rates are around the same as the bank's. If it says on the news or whatever that the Euro will get you $1.41 on a certain day, that's what's called the mid rate (you'll never get that exchanging cash over the counter in the bank or post office). It then breaks down into buy and sell rates, so say if it's 1.41 on the tv on the day you go in, they might be selling them to you at 1.37 and buying them from you at 1.46. It's how they make their money, so even if you're getting it commission free they're still making something on the deal.

    Rates change by the day so if you want to know how much you'll get/have to spend you could ring your local bank branch and ask them what the rate they're giving that day is.


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