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Is it more cost effective to use cash or ATM machines when in USA?

  • 12-07-2017 11:55am
    #1
    wherearewe45
    Registered Users, Registered Users 2 Posts: 204 ✭✭


    Heading to the US soon for a few weeks. I bank in Ireland with PTSB. In terms of bank charges and exchange rates, is it more cost effective to us my debit card while in the US or am I better off finding a good exchange rate here in Ireland and converting about 2k to dollars before I fly?


Comments

  • #2
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    wherearewe45 wrote: »
    Heading to the US soon for a few weeks. I bank in Ireland with PTSB. In terms of bank charges and exchange rates, is it more cost effective to us my debit card while in the US or am I better off finding a good exchange rate here in Ireland and converting about 2k to dollars before I fly?

    Hey

    If you have time i'd advise a Revolt Card/App

    €6 for the physical card takes about 10 days delivery.

    https://revolut.com

    So easy to manage your money. The exchange rate is inter bank with zero fees.

    I got $20 for €17

    Highly recommend this.


  • #3
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    Just remember that most ATMs over there will charge a fee for their usage, so factor that in to how often you intend to withdraw cash.


  • #4
    Dial Hard
    Registered Users, Registered Users 2 Posts: 14,498 ✭✭✭✭Dial Hard


    I'd get a PostFX card from An Post. It's basically a prepaid Mastercard. No fees for use and no commission on the exhange. If you use cash you'll pay comission to change it to USD before you go and if you use your debit card you'll pay commission AND a fee every time you use it.


  • #5
    Korvanica
    Registered Users, Registered Users 2 Posts: 3,992 ✭✭✭Korvanica


    gizmo81 wrote: »
    Hey

    If you have time i'd advise a Revolt Card/App

    €6 for the physical card takes about 10 days delivery.

    https://revolut.com

    So easy to manage your money. The exchange rate is inter bank with zero fees.

    I got $20 for €17

    Highly recommend this.

    Came here to say this. Get a Revolut card. Its a brilliant service.


  • #6
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    Dial Hard wrote: »
    I'd get a PostFX card from An Post. It's basically a prepaid Mastercard. No fees for use and no commission on the exhange. If you use cash you'll pay comission to change it to USD before you go and if you use your debit card you'll pay commission AND a fee every time you use it.

    I used the An Post one the last time i was over and it was handy but topping up was really awkward. I think they have improved this since though.


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  • #7
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,404 ✭✭✭✭jimmycrackcorm


    gizmo81 wrote:
    I used the An Post one the last time i was over and it was handy but topping up was really awkward. I think they have improved this since though.

    Topping up is the advantage of the Revolut card.


  • #8
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    jimmycrackcorm wrote: »
    Topping up is the advantage of the Revolut card.

    Yeh, the An Post thing had like three different security checks to get through to Top-up and a minimum of a €100 if i remember correct.


  • #9
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,314 ✭✭✭naughtysmurf


    If going to use a ptsb debit card, withdraw large amounts, €700/$700 at a time, you'll get charged approx €14 per withdrawal plus whatever the local ATM charge is, some will be free, some $2 some $16

    I considered revolut but they are not without issues, I just used my debit card, factored in the extra cost


  • #10
    tricky D
    Closed Accounts Posts: 9,700 ✭✭✭tricky D


    With PTSB and withdrew $200 from a Wells Fargo recently. Worked out as just under €180 with additional $5 ATM charge (€6.25), 0.46 card fee and exchange fees.

    Also let the bank know you are travelling to avoid anti-fraud issues.


  • #11
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    It is better to just use your card as much as possible. The FX charge on cash is 3.5%. But it is only 1.75% on a card payment


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  • #12
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    tricky D wrote: »
    With PTSB and withdrew $200 from a Wells Fargo recently. Worked out as just under €180 with additional $5 ATM charge (€6.25), 0.46 card fee and exchange fees.

    Also let the bank know you are travelling to avoid anti-fraud issues.

    That's mad ted!

    With Revolut today I could withdraw $200 today for €175 no additional charges.


  • #13
    wherearewe45
    Registered Users, Registered Users 2 Posts: 204 ✭✭wherearewe45


    gizmo81 wrote:
    With Revolut today I could withdraw $200 today for €175 no additional charges.


    Just signed up to get the Revolut card. Seems to be the way to go seeing as there are no charges attached for converting money. Is there a maintenance actually?


  • #14
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    wherearewe45 wrote: »
    Just signed up to get the Revolut card. Seems to be the way to go seeing as there are no charges attached for converting money. Is there a maintenance actually?

    Revolut have a premium service for €7.99 a month (first month free) this includes 2 times the ATM withdrawal limit.

    So for your holiday it could be worth it going for the premium and cancelling it during the free month trial as other posters on the main Revolut thread have done.

    http://www.boards.ie/vbulletin/showthread.php?t=2057481488&page=270

    Check out post #4041 a posters experience using it in the states :)


  • #15
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I just used my Visa Card. I brought $200 just in case and brought most of it home with me.


  • #16
    gizmo81
    Banned (with Prison Access) Posts: 1,695 ✭✭✭gizmo81


    wherearewe45 wrote: »
    Just signed up to get the Revolut card. Seems to be the way to go seeing as there are no charges attached for converting money. Is there a maintenance actually?

    Found some tips on using Revolut in the States

    https://community.revolut.com/t/revolut-in-the-united-states-of-america/348/24

    Report back on how you get on, will be using Revolut in NYC later this year myself :)


  • #17
    Bob24
    Registered Users, Registered Users 2 Posts: 10,905 ✭✭✭✭Bob24


    Withdrawing cash from an ATn is pretty much always more expensive than using the card directly. If you use large amount of cash try to get it here at a good rate but definitely don't get it from ATMs there.

    Personally I wouldn't bother though and would just use the card for most payments (except for very small amounts).

    As said before, while your PTSB card will do, the cheapest way is to go for an AnPost prepaid card, a revolut card, an N26 account, a Curve card or the likes (these will all beat cash or cards from any Irish bank in terms of getting the cheapest fees).


  • #18
    wherearewe45
    Registered Users, Registered Users 2 Posts: 204 ✭✭wherearewe45


    gizmo81 wrote:
    Report back on how you get on, will be using Revolut in NYC later this year myself


    Not going myself til October


  • #19
    neilthefunkeone
    Registered Users, Registered Users 2 Posts: 1,522 ✭✭✭neilthefunkeone


    Another revolut recommendation. Used it in May in Chicago and San francisco, Zero issues. Shops, restaurants and ATMs. And as there is wifi in nearly every restaurant, cafe and bar you can keep an eye on your transactions.

    Be warned they don't use chip/pin in a lot of places so they will walk off with your card and just return with the receipt and card.


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