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Buying Sterling Cheaply!

  • 22-07-2009 6:03pm
    #1
    miami2007
    Registered Users, Registered Users 2 Posts: 129 ✭✭


    Hi all,

    Need some advise.....im going up to belfast on saturday and need to pay £650 in either bank draft or cash.....

    I don't want to rely on the old atm machine in case it doesn't allow me take out the full £650. PTSB have told me that some bank machines may only allow me take out a small amount.....and as i dont know which these are I don't want to take the risk of be left short.

    So my question is, what is the cheapest way to get my hands on £650 without paying too much commision!?


Comments

  • #2
    catching_streams
    Registered Users, Registered Users 2 Posts: 67 ✭✭catching_streams


    I think all the major banks offer zero commission to students. You know any?


  • #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Commission is rarely a %, it's usually a fixed fee, maybe €3. That's hardly a lot on a £650 purchase.

    Go around a few banks and check their rates though, and then pick the best one. Rates can vary by a few points of a cent between bank branches, and at the amount you're looking for, that could make a noticeable difference.


  • #4
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


  • #5
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    jor el wrote: »
    Commission is rarely a %, it's usually a fixed fee, maybe €3. That's hardly a lot on a £650 purchase.

    Go around a few banks and check their rates though, and then pick the best one. Rates can vary by a few points of a cent between bank branches, and at the amount you're looking for, that could make a noticeable difference.

    Actually commission is generally a percentage, however there is a minimum charge (usually about €1.50) and also a cap on the max you can be charged (usually about €7), you could also phone a few branches if you're not keen on going 'door to door' and they could tell you exactly what they'll charge.


  • #6
    daithijjj
    Registered Users, Registered Users 2 Posts: 7,588 ✭✭✭daithijjj


    Does anyone know if the post office (uk) still does commission free transactions involving sterling and the euro??. I used to live in the uk and every time i went back and forth i just used the post office for commission free exchange. (18 months ago)

    Not sure if its the same up north, but might it be possible for someone to walk into the post office up there and get commission free exchange??

    I havent had the need to exchange recently but i was just curious if anybody knew. Might be an option for the OP.


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