Sterling Rate

Cill Chainnigh

I am going to England tomorrow. Am I better off buying Sterling from a bank in Ireland or taking out at an ATM in England?

alfaz

Definitly get it from the bank first. You will get a better rate and you won't get the charges from using your card abroad in the UK. They'll just destroy you with the rate at the atm.

Cill Chainnigh

Thanks, I've just been to the bank. Got a rate of 0.8544 plus a commission fee of €4.68. I thought that the rate might have been better. It is 0.886 according to the net. I suppose it is great compared a while back

You get a better rate when you withdraw from at atm over there. You get the going rate on the day.

Banks never give the best rates and charge commission

alfaz

alfaz wrote: »

Definitly get it from the bank first. You will get a better rate and you won't get the charges from using your card abroad in the UK. They'll just destroy you with the rate at the atm.

completely disagree with this post tbh

Thomas_S_Hunterson

Loading a credit card and withdrawing from an atm over there is one of the cheapest ways or so i've heard

alfaz

rarnes1 wrote: »

completely disagree with this post tbh

Explain? Surely any charges on using an atm card abroad wouldn't be worth it. I'm pretty sure you wouldn't get the rate of the day, but the rate when the transaction is paid through to your own bank. As well I'm pretty sure you would be charged a % on every amount you take out.
Fair enough if I'm wrong.

BuffyBot

Cill Chainnigh wrote: »

Thanks, I've just been to the bank. Got a rate of 0.8544 plus a commission fee of €4.68. I thought that the rate might have been better. It is 0.886 according to the net. I suppose it is great compared a while back

Net rate doesn't reflect the rates you get on the high street. Think wholesale vs retail

alfaz

alfaz wrote: »

Explain? Surely any charges on using an atm card abroad wouldn't be worth it. I'm pretty sure you wouldn't get the rate of the day, but the rate when the transaction is paid through to your own bank. As well I'm pretty sure you would be charged a % on every amount you take out.
Fair enough if I'm wrong.

firsty you dont get charged much per tranaction, its pittance.

secondly, you do get the rate of the day.

Bluetonic

Really for the 'average' user the methods discussed here probably have a difference 15 euro of so between them.

Hardly worth worrying about, or getting into any great conversation.

Personally speaking spending the tiny amount on using an ATM for the added security it gives you over carrying cash is a no brainer.

alfaz wrote: »

They'll just destroy you with the rate at the atm.

Oh dear.

unclebill98

Sean_K wrote: »

Loading a credit card and withdrawing from an atm over there is one of the cheapest ways or so i've heard

Most CC providers do not let you put your CC into cr. Its a Credit Card not a bank account.

As for which is best. It varies massively from ATM to ATM bank to bank etc etc. You can get a great rate of one, very close to the mid rate and the next one will be miles off.

So my answer to the op is how long is a piece of string.

daveirl

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