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Cheapest way to use my money in America

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  • 09-05-2014 4:55pm
    #1
    AdamD
    Registered Users Posts: 12,631 ✭✭✭✭


    I'm going to America for just under 3 months at the end of May. I currently have most of my money in my Irish bank account and a bit in cash (US dollars). I've looked into the An Post money card but that still charges you $2.50 everytime you withdraw money from an ATM. Is anyone aware of what BOI charge for the same process?

    Any suggestions as to the best way to go about this would be great.


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    #2
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    Looks like BOI are just as pricey if not more so.

    3 months is a fair amount of time to spend over there so my usual advise of "stick to the ATM and take out maximum amounts each time may not hold water".

    Do travelers cheques still exist? I've not used them in over 10 years. They were a good solution back then to get large sums of cash.


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    #3
    silja
    Registered Users Posts: 2,921 ✭✭✭silja


    In the USA, you can pay for almost anything by credit card. If you can get one, that would be the easiest and safest way.


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    #4
    naughtyfox
    Registered Users Posts: 81 ✭✭naughtyfox


    Just be careful if using a bank of ireland card, i tried to use my visa debit card in new york whilst there for two weeks, and even tho I informed the bank I would be in usa for the duration they rang and emailed me about frauldent use of my card and I was limited tp a certain amount each day. My advice if using bank of ire cards including a credit card would be to chat to someone in the bank before you travel.


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    #5
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    naughtyfox wrote: »
    Just be careful if using a bank of ireland card, i tried to use my visa debit card in new york whilst there for two weeks, and even tho I informed the bank I would be in usa for the duration they rang and emailed me about frauldent use of my card and I was limited tp a certain amount each day. My advice if using bank of ire cards including a credit card would be to chat to someone in the bank before you travel.


    Ive never had a problem with BOI cards in the US.
    Who did you inform before you left? branch or 365online?
    Limited to a certain amount each day? in ATM's?


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    #6
    naughtyfox
    Registered Users Posts: 81 ✭✭naughtyfox


    Yup I went into my bank before I left and informed them, this was last june and the only time in many years that it happened to me but unfortunately i had so many calls and emails from the bank whilst there, yeah i flew into newark and couldnt get any cash from the bank link in the airport, just saying it does happen.


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    #7
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    naughtyfox wrote: »
    Yup I went into my bank before I left and informed them, this was last june and the only time in many years that it happened to me but unfortunately i had so many calls and emails from the bank whilst there, yeah i flew into newark and couldnt get any cash from the bank link in the airport, just saying it does happen.

    I realise it does happen (with all banks), I would only inform BOI with telephone banking, wouldn't trust the branch.
    I still dont understand your comment of ' and I was limited to a certain amount each day', was that just the normal limits banks put on transactions when abroad?


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    #8
    MadsL
    Registered Users Posts: 20,299 ✭✭✭✭MadsL


    dobsdave wrote: »
    I realise it does happen (with all banks), I would only inform BOI with telephone banking, wouldn't trust the branch.
    I still dont understand your comment of ' and I was limited to a certain amount each day', was that just the normal limits banks put on transactions when abroad?

    Often $200 a day limit to withdrawals with Irish banks...bit of a pain if you are in Vegas say...


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    #9
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    MadsL wrote: »
    Often $200 a day limit to withdrawals with Irish banks...bit of a pain if you are in Vegas say...

    Thats why im confused by the comment, not sure why BOI was mentioned in particular, or what relation the daily limit had to the card being blocked.


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    #10
    ProudDUB
    Registered Users Posts: 11,569 ✭✭✭✭ProudDUB


    OP - Are you going over on a J1 visa to work for the summer?


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    #11
    AdamD
    Registered Users Posts: 12,631 ✭✭✭✭AdamD


    ProudDUB wrote: »
    OP - Are you going over on a J1 visa to work for the summer?

    Nah on an ESTA. Is it difficult to set up a US bank account?


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    #12
    ProudDUB
    Registered Users Posts: 11,569 ✭✭✭✭ProudDUB


    Yeah, you'll need a social security number to open a bank account & you won't be able to get one of those if you are only over there on holiday.


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    #13
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    AdamD wrote: »
    Nah on an ESTA. Is it difficult to set up a US bank account?

    That'll be impossible I'm afraid. Time to look into the cheapest credit card solution I guess.


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    #14
    AdamD
    Registered Users Posts: 12,631 ✭✭✭✭AdamD


    Alright cheers for the replies, will have to be credit/debit cards and taking out the maximum from ATMs!


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    #15
    ProudDUB
    Registered Users Posts: 11,569 ✭✭✭✭ProudDUB


    Use your plastic for as many transactions as possible. Keep your use of ATM's to a minimum and take out the max you can take out each time. Not only will your card issuer here charge you a fee for using the card outside side the country, the owner of the ATM machine in the US will also charge you a fee.

    Bank of America ATM's charge me $5 every time I use my AIB or Bank Of Ireland debit cards to withdraw cash from their ATM's. Even though that may seem steep, try to use the ATM's that are in banks, or operated by banks. The independent ATM's that are not owned by a bank, have even higher fees. You'll see them in airports, liquor stores, petrol stations, hotel lobbies, supermarkets etc etc.


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    #16
    silja
    Registered Users Posts: 2,921 ✭✭✭silja


    One thing to keep in mind is that most grocery stores and some other shops offer "cash back" ie you pay by credit o debit card and you can also get cash, usually up to the same amount as the purchases you just made. As far as I know, there is no "cash advance" fee for getting cash like that, unlike at an ATM, but check, don;t just take my word for it...


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