Euro to Sterling

Jonty

Hiya,

I'm a student in Northern Ireland. What is the best way to convert euros to sterling?

J

NIMAN

I assume you will be doing it in smallish quantities?

I was always told that the best thing you could do was to avoid banks, bureaux de change etc as they charge commission.

Apparently if you just use your ATM card in the North to take out Stg from your Southern Euro account, then the system automatically uses the exchange rate that day to convert the amount coming out of your account. But you avoid any commission, so you might save 1 or 2%.

Can anyone confirm if this is true?

piperh

NIMAN wrote: »

I assume you will be doing it in smallish quantities?

I was always told that the best thing you could do was to avoid banks, bureaux de change etc as they charge commission.

Apparently if you just use your ATM card in the North to take out Stg from your Southern Euro account, then the system automatically uses the exchange rate that day to convert the amount coming out of your account. But you avoid any commission, so you might save 1 or 2%.

Can anyone confirm if this is true?

Yes you do save on the commission but depending on what your bank charges for withdrawing from what is classed as a foreign machine it may not work out any cheaper especially if you do it regulary. It really is a case of looking around on the day.

Doyler92

NIMAN wrote: »

I assume you will be doing it in smallish quantities?

I was always told that the best thing you could do was to avoid banks, bureaux de change etc as they charge commission.

Apparently if you just use your ATM card in the North to take out Stg from your Southern Euro account, then the system automatically uses the exchange rate that day to convert the amount coming out of your account. But you avoid any commission, so you might save 1 or 2%.

Can anyone confirm if this is true?

I do know that if your a student and have your student card they don't charge you commission in Dublin Airport currency exchange.

Raskolnikov

NIMAN wrote: »

I assume you will be doing it in smallish quantities?

I was always told that the best thing you could do was to avoid banks, bureaux de change etc as they charge commission.

Apparently if you just use your ATM card in the North to take out Stg from your Southern Euro account, then the system automatically uses the exchange rate that day to convert the amount coming out of your account. But you avoid any commission, so you might save 1 or 2%.

Can anyone confirm if this is true?

When you withdraw foreign currency on your ATM you will be given a crappy rate. For example, if I take Sterling out from my Euro account, I am given 83p for the Euro when the rate is 85p.

I use currencyfair.com now, their rate is almost identical to the market rate (i.e. I get 85p when the market rate is 85p).

edgecutter

Raskolnikov wrote: »

When you withdraw foreign currency on your ATM you will be given a crappy rate. For example, if I take Sterling out from my Euro account, I am given 83p for the Euro when the rate is 85p.

I use currencyfair.com now, their rate is almost identical to the market rate (i.e. I get 85p when the market rate is 85p).

You will always get a crappy rate regardless of whether you go to a currency exchange or the bank. Getting your money from the ATM is easier and you can get it in bits and pieces when you need, unless you need a huge amount.