Currency exchange

**4 in a row** · 16/09/2009, 5:13 PM

Where is the best place to change your money when travelling to England? Airport, Credit union, Bank etc

**SkStu** · 17/09/2009, 4:06 AM

i always feel like im getting ripped off in an airport and im pretty sure i am, i'd say head to your bank.

**pineapple stu** · 17/09/2009, 8:32 AM

Just use a pass card. Most convenient way of getting foreign money anyway. Always amazed that bureaux de change still exist.

**brendy_�ire** · 17/09/2009, 11:29 AM

Just use ATMs, it's the handiest. Never exchange your money in an airport, they always rip ye off.

**MariborKev** · 17/09/2009, 2:55 PM

NEVER change it in an airport.

**OneRedArmy** · 17/09/2009, 4:06 PM

The best rates are at those bureax de change on the border near Newry/Derry/Enniskillen etc.

ATM is certainly the most convenient and usually a better rate than a bank, but charges for foreign currency withdrawals have actually increased over the last few years.

**Closed Account 2** · 18/09/2009, 6:46 PM

You could try here:

http://travelmoney.moneysavingexpert.com/

And then click on the <<buyback>> tab, that would show you the best rates in the UK for swapping from Euros (or any other currency) into pounds.... It doesnt include options in Ireland, but it's worth checking anyway...

**twoenz** · 20/09/2009, 7:29 PM

You're much better to use a competitive exchange place. Buy your currency before you go, and change it again before you leave. Never buy in airports.

But I'm dead lazy and use my pass card when abroad.

**paul_oshea** · 22/09/2009, 3:42 PM

Best way is to bring your CC, then do cashback where possible. NO ATM charge and its the amount on the FX Exchange for the day.

**twoenz** · 22/09/2009, 4:54 PM

Originally Posted by paul_oshea

Best way is to bring your CC, then do cashback where possible. NO ATM charge and its the amount on the FX Exchange for the day.

Not the mid-market rates though, it's the banks preferred rate. Usually about 3-4% on top of the rate you'd find on teletext.

**4 in a row** · 22/09/2009, 7:11 PM

Thanks lads.

I ended up just changing it in the credit union. One of the lads i went with changed money in the airport and got ripped off big time.

**DaveyCakes** · 23/09/2009, 11:30 AM

I just use my card in ATMs, haven't used a bureau de change in years, except when I was building up a supply of roubles over about 6 months.

**Closed Account 2** · 23/09/2009, 3:47 PM

If you wait a month or two it will be 1:1 for pounds and euro (officially anyway)...

http://www.x-rates.com/d/EUR/GBP/graph30.html

**OneRedArmy** · 24/09/2009, 12:17 PM

Originally Posted by cfdh_edmundo

If you wait a month or two it will be 1:1 for pounds and euro (officially anyway)...

http://www.x-rates.com/d/EUR/GBP/graph30.html

Missing an "in my opinion" in there somewhere?!

**paul_oshea** · 24/09/2009, 2:14 PM

I cannot see it going to even parity. NOt in the next couple of years at least. The Uk is moving out of the recession at a faster growth than the EU. Bonuses wont be as big as 2 or 3 years ago this xmas/january but they will be back, with a bang.

**Closed Account 2** · 25/09/2009, 11:46 PM

Dipping again, �1 = €1.09... Only a matter of time now lads. Economically in the short/medium term the UK is like a boxer - dazed and swinging on the ropes, the defeat (in this case slipping below 1:1) is inevitable, it's just a question of when.

http://uk.finance.yahoo.com/q?s=GBPEUR=X

**thischarmingman** · 26/09/2009, 12:04 AM

So...if I have bank accounts in Northern and Southern Ireland is it a good idea to have my wages (I work in Dublin)/savings paid into my Northern account given the favourable exchange rate?

**Closed Account 2** · 26/09/2009, 12:29 AM

It depends, I assume you are paid in Euros, not sterling ?

If you are paid in Euros and most of your daily expenses are in Euros then you should have your wages paid into a Euro current account since that is the account which will be most active.

In terms of savings it would depend on the projected maturity of your investment (i.e. the length of time you intend to be saving for). I think Sterling will continue to fall vs Euro (or will fail to significantly rise) for at least the rest of 2009. So if your time frame is less than 6 months you are as well to keep your savings in Euros. However if you are investing for a longer term (3-5 years) then you could look at converting your savings accounts from Euros to Sterling when it reaches 1:1 or lower. The theory behind this is Sterling should rise to it's natural level (1.20 or 1.30) over that time frame - but that is an inherently risky prediction.

You might instead want to look at investing in Sterling denominated alternative investments (such as natural gas trusts) or even Sterling property (i.e. British housing) as these would probably be safer bets than currencies alone. Also most saving accounts give paltry rates at the moment, so you could wait and see for a bit longer. If you want to buy electronics / white goods or go on holiday, you will get a lot of value for money if you hop over the border or on a ferry in the next few months.

**OneRedArmy** · 28/09/2009, 8:44 AM

Originally Posted by thischarmingman

So...if I have bank accounts in Northern and Southern Ireland is it a good idea to have my wages (I work in Dublin)/savings paid into my Northern account given the favourable exchange rate?

1) Surely its a wash either way, unless the rate moves significantly between when you get paid and when you spend it?

2) In any case, almost zero chance getting your employer to agree, significant Revenue implications about tax domicile