Foreign exchange at Cork Airport

Stugots

I went to the Bank of Ireland counter at Cork Airport today and asked to buy US dollars.

"Are you a customer of Bank of Ireland?"

"No"

"We can only put foreign exchange through a customer account."

Is this something new? I've bought sterling and dollars there before. How is a visitor to this country suppose dot exchange currency????

j8wk2feszrnpao

Stugots wrote: »

How is a visitor to this country suppose dot exchange currency????

I guess they take pound/dollar, but not in reverse? Seems strange.

fiload

Got asked the same in AIB recently. I think it is a regulation to stop money laundering, not sure how a tourist would exchange money now

namloc1980

Find it weird that people still buy foreign cash when going abroad. You get absolutely fleeced on the exchange rate.

the beer revolu

namloc1980 wrote: »

Find it weird that people still buy foreign cash when going abroad. You get absolutely fleeced on the exchange rate.

What would you suggest as an alternative?
Not use cash money at all?
Or take it from atm abroad?

Curb Your Enthusiasm

One word: Revolut.

namloc1980

the beer revolu wrote: »

What would you suggest as an alternative?
Not use cash money at all?
Or take it from atm abroad?

As above Revolut!!

Nigel Fairservice

I'd imagine it is to do with money laundering. When you are an account holder they know who you are. I haven't exchanged currency in an Irish bank in years. I use Revolut now. If possible I don't even bother taking out foreign currency in cash form with Revolut, just pay electronically. Before Revolut I just withdrew from a local ATM at my destination. Can't ever say I had a problem not having local currency on me when arriving at my destination.

confusticated

You used to be able to withdraw in dollars or sterling from the ATM in Cork airport - it was a BOI ATM I think but I was able to withdraw there using a different bank card. Is that gone now?

Stugots

I emailed the airport feedback address and got the following reply:

Thank you for taking the time to send some feedback to Cork Airport. I apologise that the Airport was not in a position to meet your foreign exchange requirements today. We are actively working on this matter. Recently Bank of Ireland advised us that due to a Central Bank directive they are only able to process foreign currency transactions for Bank Of Ireland account holders. Obviously this is far from ideal in an international airport. This Central Bank Directive is also being applied across other financial institutions. We understand that the exchange of foreign currency is a basic requirement in an international airport. We have engaged with a foreign exchange services provider and are working to have a dedicated foreign exchange service in place by the end of February/early March at the latest to meet our customers foreign currency requirements. I appreciate that there is a gap in the interim and I apologise for this however we did not receive any advance notice that this directive was coming into force and so could not have an alternative service provider in place. Bank Of Ireland were unable to continue the service in this interim period as they had to comply with this directive. They do have an ATM machine dedicated to sterling and US dollars which, while very limited, meets the needs of some customers but obviously not all.

Again I apologise that your foreign exchange needs could not be met today. I hope that you will bear with us while we work with our new service provider to get them set up as quickly as possible.

So at least they recognize it as a problem and are working to address it.

Regarding the posters saying 'no need for cash',' use Revolut', or 'use the ATM abroad'.... first of all, I find that I do need small denominations of cash when travelling, not much but cash is still necessary. I recently had the experience of travelling abroad and had to go to over 5 ATMs before I was able to withdraw cash, even though I put a travel note on my account. I'm not sure that I travel enough to justify setting up a Revolut account. Its probably worth looking into, but again does not satisfy the need for small amounts of cash.

boombang

There's very little cost/hassle setting up a Revolut account and you won't be ripped off again. Even if you don't travel much it's handy for paying in sterling online and avoiding being ripped off again.

I would use Revolut out of principle.

EdgeCase

I'd say the way things are going they'll address it by saying adiós to Bank of Ireland if they're not capable of providing a service.

There's a definite need for bureau de change in an international airport, even if most people use cards.

I fail to see what the purpose of retail bank branch that hardly opens most of the time is though.

A few ATMs around the airport and a bureau de change is all that's needed.

The retail space occupied by B of I would probably be better used as a cafe or something actually of use to passengers.

The ability to withdraw money in currencies that are likely to be encountered would be useful too - as in actually related to the destinations that Cork services:

€, £, $ but also Zloty

Generally airport retail spaces are quite sought after.

Curb Your Enthusiasm

Anyone know if anything is going into the old Spar shop?

Acosta

Curb Your Enthusiasm wrote: »

Anyone know if anything is going into the old Spar shop?

WH Smith moved in there

Curb Your Enthusiasm

Acosta wrote: »

WH Smith moved in there

Did they? Only recently?

Acosta

Curb Your Enthusiasm wrote: »

Did they? Only recently?

Just before Christmas. They now sell sandwiches, costa coffee and other foods.

Curb Your Enthusiasm

Acosta wrote: »

Just before Christmas. They now sell sandwiches, costa coffee and other foods.

Ah very good.