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Foreign exchange in banks and post office

  • 01-08-2019 3:51pm
    #1
    Grolschevik
    Registered Users, Registered Users 2 Posts: 3,472 ✭✭✭


    When did the banks (and apparently the post office) stop exchanging foreign currency for cash, and start insisting it be lodged to an account instead?

    Presume it's to do with money-laundering?


Comments

  • #2
    theteal
    Registered Users, Registered Users 2 Posts: 7,593 ✭✭✭theteal


    Don't know, been years since I used them, rip off rates.

    Save yourself money and hassle with the likes of Revolut


  • #3
    Miaireland
    Registered Users, Registered Users 2 Posts: 4,065 ✭✭✭Miaireland


    Bank a couple of years ago. I was able to buy Dollars with cash in two post offices in March 2019. One Post Office was my local town where I knew the staff, the other was a City Centre Post Office that I never had been before.


  • #4
    Grolschevik
    Registered Users, Registered Users 2 Posts: 3,472 ✭✭✭Grolschevik


    This was converting Sterling notes back to euro. I can understand that they mightn't want to order in foreign currency, but it's hardly like banks don't have euros on the premises!


  • #5
    F1ngers
    Moderators, Computer Games Moderators Posts: 10,357 Mod ✭✭✭✭F1ngers


    Grolschevik wrote: »
    This was converting Sterling notes back to euro.

    Unless I got my math wrong, you want to be buying sterling now, not selling it.


  • #6
    Grolschevik
    Registered Users, Registered Users 2 Posts: 3,472 ✭✭✭Grolschevik


    Of course posters know that I'm neither asking about nonconventional currencies, nor currency speculation.

    I'm merely asking when and why it became normal practice for Irish banks to refuse to change, in my case, £65 Sterling in cash to Euro cash when I came back from holidays...


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  • #7
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    Grolschevik wrote: »
    Of course posters know that I'm neither asking about nonconventional currencies, nor currency speculation.

    I'm merely asking when and why it became normal practice for Irish banks to refuse to change, in my case, £65 Sterling in cash to Euro cash when I came back from holidays...

    I change any cash over in Tesco at Pembroke Dock before I come back over by ferry. They will change cash for cash up to at least €1000 and don't even ask for ID. Exchange rates aren't too bad.


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