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Wednesday, July 11, 2012

Money exchange and Withdrawals in Ireland

I think one of the biggest problems I had during my travels in the UK and Ireland was how I wanted to spend my money. By this, I mean how will I pull out and use money? Many of my friends went ahead and swiped their credit cards but I wanted to save as much as I can. Each credit card transaction can range from 3-5% and that sir adds up!

So what can you do to save money in the long run?

You have 2 options. Withdraw a large sum at a time from a free ATM.
This means that it says "free withdrawal" on the ATM somewhere.
This doesn't mean you won't be charged to withdraw money but that the ATM itself won't charge you anything. Your bank however will.

Wells Fargo charges a $5 withdrawal fee (like many other banks).
The only problem with this is that if you pull out too much or too little, you need to deal with more conversions and loss of money.

I had no choice in Belfast and Derry (the UK) so I just pulled out $200 worth and worked through it little by little. I luckily had friends who pulled out euros so I switched with them knowing I would need it later on during the trip.

Most post offices will charge little or no fee to convert your dollars to pounds or euros as well.

But if you are in Ireland, euro exchange is SO easy.
Just find a Fexco exchange if you have dollars on you!
They charge a 1-2% conversion fee and you can bring in any sum of money.
I went in multiple times during my stay in Galway to exchange $20-150 worth.
It's quick, efficient, and I see them around in almost every city.

Alrighty. That's just my take on it.

Oh-- and if you have some euros left before ending your trip, just keep it for the airport if you couldn't find a way to use it all. They have "duty free" tax free stores where you can buy souvenirs. I bought a coffee mug and chocolate bar with what I had left.

Nothing went to waste!

1 comment:

  1. Traveller's cheques are best used as a payment method to pay for products and services at retailers such as restaurants, hotels or car hire firms. You can also exchange them for cash in the local currency at Banks, bureaux de change and many hotels although you may get charged for doing this.

    International Payments | Bureau De Change

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