Changing currency Euro to Pound - Less Commission fees

N

Nemama

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Hi,

Where is best place to change euro to sterling pound from a commission fees perspective?
Cash withdrawal credit or debit card at the airport from ATMs?
 
AnPost do commission free foreign exchange for sterling pound, details here ... Depending on the amount, you can just call into a post office, or ring ahead and order it.
 
I can't imagine An Post giving the best rate on anything, to be honest.

"Commission free" is meaningless if the rates they offer are uncompetitive.
 
If you're using ATMs at UK airports watch out that they aren't privately owned. Some of them sting you on the FX rate by converting it back to Euro for you.
 
Nemama said:
Cash withdrawal credit or debit card at the airport from ATMs?
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Between these two (cash withdrawal from ATM using a credit or debit card), my preference would be to use the debit card. Leaving aside any consideration about commission, credit cards usually have a charge for getting cash. That aside, generally the machine will offer you a rate to take out in your own currency (so if you have a euro account, they'll give you a conversion rate and allow you to extract it as a fixed euro amount) my general rule with that is don't take that option. Always take sterling out as sterling. Experimenting with cash extractions in the UK I found that it was always cheaper for me to take it out as sterling rather than accept the conversion rate they quoted on the machine.
 
Thanks guys. Appreciated.

BTW, An Post offers FREE commission currency exchange. Confirmed.
 
Nemama said:
Thanks guys. Appreciated.

BTW, An Post offers FREE commission currency exchange. Confirmed.
Click to expand...

No explicit commission but their exchange rate is poorer than other places that do charge commission, so the end result is that you pay more for currency exchange with An Post than other places. See http://www.*****************.com/currency-exchange-in-ireland-travel-money.html
 
I would recommend setting up a Revolut account (free). It will let you transfer Euro to Euro via a standard bank transfer. From there you can convert the Euros into Sterling at a very competitive transfer rate (and without a fee) and just take cash out locally in the UK with the Revolut card. Failing Revolut, you can also use Transferwise or CurrencyFair to make 1-off transfers
 
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