# changing from euro



## blueband (14 Jul 2011)

hi, i am thinking of withdrawing my money from the bank and changing it from euro to pounds or aus dollers, whats the best way to do this?


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## Stan The Man (15 Jul 2011)

Thinking of doing the same what does anyone think about opening a sterling account in a branch of ulster bank in ROI ? I know Ulster Bank are covered by the British goverments bank gauruntee


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## irishmoss (15 Jul 2011)

Open one in Newry, easiest option


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## horusd (15 Jul 2011)

This issues are already covered extensively in AAM. Do a Google search with AAM in title and you'll find them. If you have more questions after reading them ask away!


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## blueband (16 Jul 2011)

well what i was really planning to do was close my account and ask for my money in pounds cash, instead of euro. will the bank do that?


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## horusd (16 Jul 2011)

blueband said:


> well what i was really planning to do was close my account and ask for my money in pounds cash, instead of euro. will the bank do that?


 
I see no reason why they wouldn't. This would be a routine transfer into sterling/AUD$. Depending on the amount, you might need to wait a day or so until they get enough sterling/AUD $ in. You will of course pay FX costs and run the risk that either sterling or $ *fall* against the Euro. And you will pay to transfer it back into Euro. FX speculation is far from risk free, *and can be very costly.* Are you sure you want to do this and why are you considering it?  If you have safety concerns, you might want to consider spreading your money around, including having some in FX abroad in a foreign account.


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## blueband (16 Jul 2011)

thanks for that. its food for thought!


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## paperclip (18 Jul 2011)

Just out of curiosity, if everyone starts doing this... what adverse effects could it have?


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## oldnick (18 Jul 2011)

You help destroy ireland, but as everyone else has -bankers, politicians etc  why worry ?


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