1. avatar ConorKane
    I'm going to live in Illinois for a year come September. I have most of my money saved up already so I was wondering where the best place is to buy US Dollars. The rate in the Post Office seems to be around 1.87 without commission but I was wondering if there are any places that better that (and don't charge commission). Any help would be greatly appreciated.
  2. avatar thecunnyfunt
    Certain student accountts have 'fee free' conversion. Ulster bank for example
  3. avatar Captain Kennedy
    Buttercrane in Newry is supposed to have a great wee spot that does a good rate on dollars.
  4. avatar gavinearly
    Marks and Spencer is alright.

    It's not uber competitive rates but its completely "fee free" if such a concept exists.
  5. avatar Recycled Alien
    "No fee" or "no charge" is always a scam. They bump up (or down) the exchange rate to compensate.

    The best deal seems to be to use a cash machine card from a bank that doesn't charge to use it abroad. There are a few: mine is Nationwide.

    Any time I've used it in the US or Europe, the exchange rate I was charged was the real banks' rate on that day, not what tourists get over the counter.


    Plus, you can't seriously be considering taking a year's woth of living expenses with you in cash in your suitcase, can you?
  6. avatar gregoriavitch
    I've used [url=http://www.kensingtonmoneyexchange.co.uk/]Kensington Money Exchange[/url] before Iwent to Boston at christmas and they were very good.

    Was a little dubious at first, but it's something they're used to and don't mind trial runs. Money arrived by recorded delivery the next day - super fast.
  7. avatar ConorKane
    [quote:389072eca0="Recycled Alien"]"No fee" or "no charge" is always a scam. They bump up (or down) the exchange rate to compensate.

    The best deal seems to be to use a cash machine card from a bank that doesn't charge to use it abroad. There are a few: mine is Nationwide.

    Any time I've used it in the US or Europe, the exchange rate I was charged was the real banks' rate on that day, not what tourists get over the counter.


    Plus, you can't seriously be considering taking a year's woth of living expenses with you in cash in your suitcase, can you?[/quote:389072eca0]

    Not a year's worth, just what I need to keep me tided over for the first couple of weeks. I'll be earning money out there.

    Thanks for the tip though, I'm also Nationwide. It's good to know they don't charge for use abroad.

    Thanks for all the other tips as well, I'll do some research and see where I can get the best value.
  8. avatar trepanner
    Just noticed Co-Op Travel on Rosemary Street is offering 1.9 today ("Commission Free", but as Recycled Alien points out, this is a big fat lie, FYI the actual at this time is 1.97)
  9. avatar gavinearly
    Well of course they're going to "lie" and not sell at the absolute market rate. They've gotta get some sort of reward for the risk of dabbling in the forex market.

    I was getting some euros for going to Barcelona next week and I was shocked at the rate, but that's life I suppose.
  10. avatar Recycled Alien
    [quote:83588714ec="gavinearly"]Well of course they're going to "lie" and not sell at the absolute market rate. They've gotta get some sort of reward for the risk of dabbling in the forex market. [/quote:83588714ec]Dealers work on the last digit of the four after the decimal point. When I worked in the City, they reckoned on making or losing about ten quid per million they bought or sold.

    So a bank giving you 1.9 instead of 1.97 is 700 times the forex risk.

    Nationwide charge you to the exact four-decimal figure at the time of the trade.
  11. avatar gavinearly
    and no commission whatsoever?
  12. avatar Recycled Alien
    [quote:c0c7f99b24="gavinearly"]and no commission whatsoever?[/quote:c0c7f99b24]No; plus you get to own the bank and appoint the directors!
  13. avatar gavinearly
    I wasn't being sarcastic.

    It's just I am going away next week and now regret buying my currency before I went and should have done as you said instead as I was unaware of this being the case.
  14. avatar Recycled Alien
    Actually, I wasn't being sarcastic either. Nationwide is indeed owned by its customers.

    Since they don't need to make a profit to give to shareholders, almost everything is cheaper.
  15. avatar gavinearly
    Apologies, showing my ignorance there!! :?