Best way to purchase foreign currency

kerrycan · 06-08-2020 11:05am #1

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

finbarrk · 07-08-2020 7:39am

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

maestroamado · 07-08-2020 7:52am

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....

k123456 · 07-08-2020 11:16am

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

bigar · 07-08-2020 11:45am

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

kerrycan · 07-08-2020 1:02pm

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.

SourSessions · 07-08-2020 2:25pm

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

killbillvol2 · 08-08-2020 2:59pm

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.

august12 · 08-08-2020 4:20pm

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,

antix80 · 10-08-2020 1:39pm

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.

Best way to purchase foreign currency

Comments