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transfer dollars

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  • 29-03-2015 11:59pm
    #1
    ballyharpat
    Registered Users Posts: 1,804 ✭✭✭


    Hey, I'm going to USA in May, I'm wondering am I best to buy the dollars from the bank or Post Office here, or would it be cheaper to just use my debit card to withdraw money from the ATM's in the States?

    Thanks in advance


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    #2
    jaymcg91
    Closed Accounts Posts: 1,015 ✭✭✭jaymcg91


    Post Office is free but has a bad rate. ATMs in the US will probably have a better rate but most (Citibank, BoA and Chase) all charge $3 per transaction. To be honest, it's usually just cheaper for me to use my card to buy stuff. I just then take like $100 in case of emergencies.


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    #3
    ballyharpat
    Registered Users Posts: 1,804 ✭✭✭ballyharpat


    jaymcg91 wrote: »
    Post Office is free but has a bad rate. ATMs in the US will probably have a better rate but most (Citibank, BoA and Chase) all charge $3 per transaction. To be honest, it's usually just cheaper for me to use my card to buy stuff. I just then take like $100 in case of emergencies.

    Thanks Jay, I thought that I would be charged a transaction rate for every USD purchase over there, that's great if I'm not, seems wiser to just use my card so, rather than getting bad rates here and possibly being stuck with more dollars than i need, thanks.


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    #4
    whomitconcerns
    Registered Users Posts: 4,359 ✭✭✭whomitconcerns


    you will pay a transaction rate if you use it to pay for stuff, dont do that. Even in theh UK its the expensive option...if you want to test ATM usage V buying over counter usage.

    Go to an ATM and take out cash. Most will not charge you for usage.

    And use your CC to pay for things.


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    #5
    spideog7
    Registered Users Posts: 1,230 ✭✭✭spideog7


    whomitconcerns wrote: »
    you will pay a transaction rate if you use it to pay for stuff, dont do that. Even in theh UK its the expensive option...if you want to test ATM usage V buying over counter usage.

    Go to an ATM and take out cash. Most will not charge you for usage.

    And use your CC to pay for things.

    Hmm I think it's cheaper to pay with the card than to use it to get money out at the ATM. I usually use credit cards though not debit so I'm not 100%. That being said using debit cards over here is not very safe IMO, make sure you have a back up in case you get cleaned out.


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    #6
    channelsurfer2
    Registered Users Posts: 2,610 ✭✭✭channelsurfer2


    just did a search on the 4 banks and the post office for 1000 euro versus dollars as I am going in June. post office gave best rate by around a couple of euro when you factor in the commission the banks charge. not much variety really.
    using the credit card seems slightly better using the visa exchange rate calculator(with a 1.75% fee that my bank PTSB charges) will get you EURO = 1.0614250615 UNITED STATES DOLLAR or 1061 dollars versus buying it today in the post office of 1053 dollars at a rate of 1.053


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    #7
    ballyharpat
    Registered Users Posts: 1,804 ✭✭✭ballyharpat


    Thanks for the advice, I applied for a cc today, and I will take a few hundred cash and keep my debit card handy…...


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    #8
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    ballyharpat wrote: »
    Hey, I'm going to USA in May, I'm wondering am I best to buy the dollars from the bank or Post Office here, or would it be cheaper to just use my debit card to withdraw money from the ATM's in the States?

    Thanks in advance

    Banks usually give the best rate. Probably best to cash in/out in Ireland.

    Check your credit card to see if they charge a foreign transaction fee.

    I would buy dollars as soon as possible. I'm betting on parity between the dollar and euro around summer time. Every time Greece hiccups, the euro slides a bit more.

    Also, currency exchange isn't very popular in the States. At most banks, you'll have to request euros. The places that do keep euro's on hand are usually expensive.

    Keep an eye on the rates over the next few weeks and cash-in when you feel its best.


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