# How to Buy Sterling Efficiently



## Lightning (10 Jan 2009)

Below is a list of methods to convert Sterling/GBP to Euros/EUR. 

Generally "in-store" currency currency conversion desks do not offer the best rates. Check out the current EUR/GBP rate before converting. 

*1. Use An Online Broker - Best Buys*

*XE.com*
Zero commission fees, 15 EUR or 12 GBP per wire. 

*Currency.ie*
Minimum 1,000 USD or equivalent, telephone support, discuss here. 

*2. Use your ATM/Debit Card*

*Best Rate:*
*Halifax: * 1.75% for withdrawals, 1.75% for purchases. 

*Full List:*
*Ulster Bank: * 3.50% for withdrawals, 2.00% for purchases. 
*First Active:* 3.50% for withdrawals, 1.00% for purchases. 
*National Irish Bank:* 3.50% for withdrawals, 1.75% for purchases. 
*Permanent TSB* 3.50% for withdrawals, 1.75% for purchases. 
*Bank of Ireland: * 3.50% for withdrawals, 1.75% for purchases. 
*Postbank: * 5.00 EUR per ATM withdrawal, 2.50 EUR per purchase. 
*AIB:* Up to 4.00% for withdrawals, 1.75% for purchases. 

*3. Use your Credit Card*

*Best Rates:*
*Tesco:* 1.75% for withdrawals, 1.75% for purchases. 
*National Irish Bank:* 1.75% for withdrawals, 1.75% for purchases. 
*Permanent TSB:* 1.75% for withdrawals, 1.75% for purchases. 

*Full List:*
*Halifax: *  1.75% for withdrawals, Up to 3.25% for purchases.
*Ulster Bank: * 2.00% for withdrawals, 3.50% for purchases. 
*First Active:* 3.50% for withdrawals, 1.00% for purchases. 
*Bank of Ireland: * 1.75% for withdrawals, Up to 3.25% for purchases. 
*Postbank: *  2.65% for withdrawals, 2.65% for purchases.  
*AIB:* 1.75% for withdrawals, 3.25% for purchases. 
*MBNA: * 2.65% for withdrawals, Up to 2.65% for purchases. 
*GE: *  2.60% for withdrawals, 2.60% for purchases.  
*EBS:*  2.65% for withdrawals, 2.65% for purchases.


This thread was last updated January 9th 2009.
*Feedback welcome* - this is a draft new best buys thread. If you can suggest additions or amendments then please post them below.


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## sue_flaherty (10 Jan 2009)

Also send an old person to buy it - as they don't have to pay commission!!!


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## ronaldo (13 Jan 2009)

I have an account with Interactive brokers and can get very good rates with only a $2.50 commission. However, it'd probably only be suitable for someone who already trades shares with them as they charge a minimum $10 per month commissions for an account.


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## soy (14 Jan 2009)

Good thread, but are you sure about the AIB CC rates. It thought it was 1.75% in Europe and 2.75% outside?


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## Lightning (14 Jan 2009)

I have added all fees percentages together. 

For AIB - Visa 1.75% within Visa Europe region Plus cash advance fee of 1.5% totaling 3.25% . However, I have noted that this is their withdrawal charge rather than their purchase change. 

I will invert the withdrawal and purchase notations.(for some reason I can't edit the post at the moment - I have PM'ed Brendan). 

Thanks for pointing this out.

As stated above this is a *draft * and any further feedback is welcome.


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## Raskolnikov (15 Jan 2009)

Don't OAP's get currency exchanges (with BOI at least) for less than 1%?


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## Protocol (15 Jan 2009)

I use my NIB debit card at ATMs in NI and never pay fees.


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