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Best way to transfer funds to usa?

DonQuigleone · 2015-01-09 10:29:15

So I'm moving to the USA soon, and I have a lot of money in a current account for travelling and supporting myself while I look for work. I was going to transfer most of it to an American account, but recently the exchange rate has taken a dive, leaving me a few thousand dollars poorer compared to a few months ago if I…

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09-01-2015 11:29am

#1

DonQuigleone

Registered Users Posts: 110 ✭✭

Join Date: January 2011

Posts: 87

So I'm moving to the USA soon, and I have a lot of money in a current account for travelling and supporting myself while I look for work. I was going to transfer most of it to an American account, but recently the exchange rate has taken a dive, leaving me a few thousand dollars poorer compared to a few months ago if I exchanged now. As far as I can see I have 2 options:
1. Open an American account and transfer a few thousand euro into it, incurring a loss due to the current exchange rate.
2. Use my Irish debit card instead, and just withdraw money as needed, I have a higher transaction cost but I won't lose money excessively if the exchange rate bounces back.

Any advice? How much money would I expect to lose in these transactions? What do I have to pay to use an American ATM with a foreign card?

Also my bank is AIB.

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