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Dollars, does it really matter where I get them

  • 04-09-2013 10:57am
    #1
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,281 ✭✭✭


    I have to get a few thousand dollars cash in the next couple of weeks, Is there really much of a difference between the major banks & An Post as regards their rates & commission,

    There is a bank pretty much next door to where I work (AIB) so it's handy, at the end of the day will I be only saving cents shopping around & have the inconvienence of having to drive into town, parking etc?

    Thanks


Comments

  • #2
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    What research have you done :confused:


  • #3
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,281 ✭✭✭naughtysmurf


    snubbleste wrote: »
    What research have you done :confused:

    None, thought I would ask here in case there were some who would know the answer so I could avoid doing the research.
    Spending an hour going to say tsb to save a fiver over popping next door to aib wouldnt be worth it so was just wondering if generally speaking there was much of a difference,


  • #4
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    For the most part the difference isn't all that great. An Post offer "commission free", but the rate doesn't match the bank (that's how they make their money). So unless you're changing a major amount, it doesn't work a big deal.


  • #5
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,281 ✭✭✭naughtysmurf


    Kinda suspected that but wasn't 100%, thanks for confirming


  • #6
    syklops
    Closed Accounts Posts: 18,966 ✭✭✭✭syklops


    naughtysmurf wrote: »
    Kinda suspected that but wasn't 100%, thanks for confirming

    Go into Dunnes. No commission. They wont do large amounts, but if you go in a few times over the course of a few days, you could safe money.


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  • #7
    goz83
    Registered Users, Registered Users 2 Posts: 8,034 ✭✭✭goz83


    I was just about to ask the same question here. I checked the credit union and AnPost. Changing over €1000 today....CU offer circa $1255 and AnPost offering $1277. In all, I will be changing 2.5k for a week long trip to vegas & NY. In my mind, the PO rate has just paid for my taxi from JFK to Manhattan, so that is where I go.

    If every 1k euro at the PO saves you $25....it may be worth the hassle.


  • #8
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,281 ✭✭✭naughtysmurf


    According to their websites,

    AIB Dollar rate is 1.2988 Assume that doesn't include commission, don't know what % they add on

    An Post rate is 1.2774 so only 0.0213(ish) difference

    That credit union was taking the mick


  • #9
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    naughtysmurf wrote: »
    According to their websites,

    AIB Dollar rate is 1.2988 Assume that doesn't include commission, don't know what % they add on

    An Post rate is 1.2774 so only 0.0213(ish) difference

    That credit union was taking the mick

    AIB commission is 1% with a max of €6.35
    so going with AIB would give you an extra $13 for your €1000
    only benefit of the post office is you're more likely to get it on the day, with AIB you tend to have to give a few days notice.


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