Change $$s here or at home

lg123

hi guys,

I'm heading home next week. there has been a bit of a screw up with my AIB atm card so instead of transferring money over i am going to bring cash instead. i was wondering where would be the best place to convert to euro, here in Sydney or back in Ireland?

Legend100

lg123 wrote: »

hi guys,

I'm heading home next week. there has been a bit of a screw up with my AIB atm card so instead of transferring money over i am going to bring cash instead. i was wondering where would be the best place to convert to euro, here in Sydney or back in Ireland?

You will get screwed on the exchange rate either way. Not sure which one would be better

Why don't you transfer money home (currencyfair/ozforex) then transfer it to a family member (from your AIB account) and get them to withdraw the cash for you in a branch back home?

massdebater

Not sure where would have better rates at the minute but, if you're dealing with cash only, you could check to see if someone you know is moving the other way soon and see if they would swap their euro cash for your aussie dollars. Simply agree a rate that both of you are happy with and do the trade. It should work out better than going through a bank (better rate/no fees etc). I'm from a small town in Ireland but, even then, there seems to be a new person heading for Australia every two weeks or so. It should be fairly easy to find someone going. If you can't find anyone then you can just change it in the banks in Ireland.

lg123

only changing a few grand for a 2 week holiday so trying to arrange a trade with someone would be too much hassle.

any time i have sent money home before was with the international money transfer available online through my Commonwealth account. the transfer fee was about $22 last time i done it. is this service good value?

are currencyfair/ozforex much better?

ifeelill

The post office will exchange cash no exchange fee.

hfallada

Phone up AIB ASAP and get a new card reissued. It only takes about a few days( Im on my 5th card in 2 years). If you phone before 3pm you pin will send that day and your card 2 days later.

If your selling FX get someone with a student account to do it in AIB as its commission free

catbear

ifeelill wrote: »

The post office will exchange cash no exchange fee.

The say they're commission free but the rate they offer is as bad as the banks. You're best bet, if it's a small amount is to find someone heading out to OZ and to agree a deal based on the international rate.
For a large amount try to use an online service like currencyfair.

6ix

lg123 wrote: »

are currencyfair/ozforex much better?

In short, yes.

CommBank right now is $1 = 0.6319 euro
CurrencyFair right now is $1 = 0.6708 euro

So that's almost 4c on the dollar, or $200 on a $5k transfer.

Plus the fees on CurrencyFair are $4 per transaction vs $22 with Commonwealth.