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Best way to purchase foreign currency

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  • 06-08-2020 11:05am
    #1
    kerrycan
    Registered Users Posts: 31 ✭


    Hi, I am looking to take advantage of good exchange rates on Turkish Lira at the moment and purchase to use at a later date. Whats the best way to do this - Revolut, An Post Currency card, through the bank??

    We have family in Turkey that we visit every year and we are in the process of building a house there - not just buying because the exchange rate is good!

    Thanks


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    #2
    finbarrk
    Registered Users Posts: 5,417 ✭✭✭finbarrk


    I just use my local credit union usually. Nice to support them anyway.


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    #3
    maestroamado
    Registered Users Posts: 4,426 ✭✭✭maestroamado


    kerrycan wrote: »
    Hi, I am looking to take advantage of good exchange rates on Turkish Lira at the moment and purchase to use at a later date. Whats the best way to do this - Revolut, An Post Currency card, through the bank??

    We have family in Turkey that we visit every year and we are in the process of building a house there - not just buying because the exchange rate is good!

    Thanks


    Revolut are approximately 2% better than An Post....


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    #4
    k123456
    Registered Users Posts: 2,180 ✭✭✭k123456


    if you wanted to transfer TL (not purchase) call Transferwise or transfermate


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    #5
    bigar
    Registered Users Posts: 596 ✭✭✭bigar


    I never used it in Turkey but Revolut definitely gives the best exchange rate for all countries I travelled to.


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    #6
    kerrycan
    Registered Users Posts: 31 ✭kerrycan


    Thanks for replies - with Revolut can I purchase TL and keep it in my account at the exchange rate at which I bought it?

    I know you can with the an post currency card but I think I'm swaying more towards Revolut.
    I'd rather have it in an account than have cash lying around I think.


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    #7
    SourSessions
    Registered Users Posts: 1,206 ✭✭✭SourSessions


    kerrycan wrote:
    Thanks for replies - with Revolut can I purchase TL and keep it in my account at the exchange rate at which I bought it?

    You can keep it in the amount you exchanged but obviously if you change it back it will be at the new days rate


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    #8
    killbillvol2
    Registered Users Posts: 5,178 ✭✭✭killbillvol2


    kerrycan wrote: »
    Thanks for replies - with Revolut can I purchase TL and keep it in my account at the exchange rate at which I bought it?

    I know you can with the an post currency card but I think I'm swaying more towards Revolut.
    I'd rather have it in an account than have cash lying around I think.

    With Revolut you can just buy it and put it in your Turkish Lira vault. By far the best way to exchange money for your purpose.


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    #9
    august12
    Registered Users Posts: 1,275 ✭✭✭august12


    killbillvol2 wrote: »
    With Revolut you can just buy it and put it in your Turkish Lira vault. By far the best way to exchange money for your purpose.
    If one has money in the vault, purchased something and didn't have money in the account, will Revolut pull from the vault,


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    #10
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    august12 wrote: »
    If one has money in the vault, purchased something and didn't have money in the account, will Revolut pull from the vault,

    I think they stopped doing this.

    Op, don't buy at weekends. They charge a higher cost as markets are closed.


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