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Cheapest way to buy foreign currency for holiday?

  • 11-10-2006 11:56AM
    #1
    Yorky
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    Going to poland at the end of the month - does anyone know the cheapest way to buy the currency? Can it be ordered online to lower commission/Charges?


Comments

  • #2
    mrsmagoo
    Registered Users, Registered Users 2 Posts: 52 ✭✭mrsmagoo


    Yorky wrote:
    does anyone know the cheapest way to buy the currency?

    The cheapest way is not to pay commission (obvious I know!)
    But the way to do that is to talk to a student or a college graduate. They do not get charged commission if they remind the teller of it.
    This is definitely the case in Bank of Ireland.
    I'm 2 years out of college and have never paid commission in my life.


  • #3
    lemik_24
    Closed Accounts Posts: 7 ✭lemik_24


    that is me again :)

    best way to manage your money is to change let say 50 euro here - to have money for taxi etc and then to change rest of money in one of exchanges in Krakow - do not exchange money at the airport or train station - you will get better money in city centre - exchanges looks the same as here and signpost says "kantor" and also exchange. in every "kantor" in city centre should be the same price for euro.


  • #4
    beserker
    Closed Accounts Posts: 112 ✭✭beserker


    Yea, Use a student. You can't get currency exchange any cheaper than free.


  • #5
    ArphaRima
    Registered Users, Registered Users 2 Posts: 1,676 ✭✭✭ArphaRima


    The two cheapest ways are dealing in hard currency (Euros or Dollars cash) or a credit card in credit.

    Almost all foreign exchange bureaus will offer 0% commision. Thats easy. About half their customers are eligible for it. More on request. The simple explanation being that they dont need to charge it. Their rates are just crap. They make a fortune giving poor rates of exchange. Never change money in the airport, train station, bus station, or hotel. Basically anywhere there are loads of tourists.

    Change money where its cheap. Check the correct rates before you go and then shop around in the local banks and exchange bureaus. If you cant be bothered, like I said, a credit card in credit is very cheap, and devoid of opportunity for scams. Use it in an ATM (again a normal one, not a thomas cook one for tourists etc.) Take out as much as possible so the cash advance fee and the ATM usage fee has minimal impact.

    Just in case people didnt know BOI dublin airport have terrible exchange rates. I bank there and refuse their rates. They know this. Its for (you guessed it) - tourists. The rates are different to normal BOI branches, which are already rather uncompetitive.
    As a half-decent guideline try using www.xe.com


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