any where do 0% commission on currency exchange

gar1234

going to the U.S and looking for a bank or anything that charges no commision
cheers

James.

it is not as simple as finding somewhere that charges 0% commission

finding somewhere that doesnt charge commission might not be the best deal.

you need to look at the rate and the commission together.

you could end up getting more dollars from somewhere that charges commission if they are offering a better rate

Dodge

and you might get a better rate in the US

If you're going to Las Vegas the casinos have decent rates and don't charge commision

ScouseMouse

As mentioned above. You are going about it the wrong way.

You may find a place that does 0% commission, but the fees will only be built into the currency rate. You need to work it out both ways and then make a decision.

They are not a charity and if you think they will give you currency exchange for nothing, well, dream on.

tjalana

if you know someone 65+,take them with you as they dont get charged

Trampas

tjalana wrote: »

if you know someone 65+,take them with you as they dont get charged

I get my dad to do all my exchange as he doesn't get charged

semajnayr

the best spot exchange rate can often be gotten by lodging cash onto your credit card (so it has a positive balance) and withdrawing cash from an atm in your destination country. credit cards normally operate at +/-2% of the interbank rate where as cash currency exchange usually operates at +/-4%. helps to take out all the required cash in one go in case the atm company charges per withdrawal. if your credit card is positive balance you shouldn't attract a cash withdrawal fee from the credit card company.

HappyHarry

gar1234 wrote: »

going to the U.S and looking for a bank or anything that charges no commision
cheers

You want to look for the lowest total cost.
This will depend on the exchange rate given and commissions.

I just got some Dollars myself and found that on the day BOI was the cheapest.
The commission is often a % with a minimum and maximum amount charged. In my case the commission was €6.35 (the maximum) - couldn't find a granny at the time ;-)

Ulster Bank were only asking €2.54 in commission but their rate was the worst of all of them (1.8% worse!)

BTW the rates were:
XE.com (for reference) ~1.391
BOI:1.3698
AIB:1.3611
PTSB:1.3557
Ulster:1.3506
damn... should have changed my money in early Dec...

Note: the exchange rates on the signs in the branches generally are not very accurate, both AIB & BOI had a rate of 1.35 shown on the sign.

As for preloaded your credit card, I'd beware of the Fx charges, I know with AIB cards it's a whopping 2.75%. I think others charge something like 1.75%.

tjalana

happyharry,thats intresting,i wonder if BOI are always the best rate,need to get some for june,did you have to order the dollars,

HappyHarry

tjalana wrote: »

happyharry,thats intresting,i wonder if BOI are always the best rate,need to get some for june,did you have to order the dollars,

I doubt if BOI are always the best. You should ring around on the day you are buying.

I didn't have to order from BOI - the branch had plenty of Dollars (PTSB also had lots of Dollars, but neither Ulster bank or AIB had stock and said it would take 3 business days to order it in!

I guess it depends where you local branches are and how much you want, but I'd advise checking with them a week in advance.

tjalana

good advice thanks,