best way to spend abroad - Cash / credit card exchange fees

Hi,

I was just wondering if anyone knows the best way to shop abroad, USA. Taking commission and charges and transaction charges etc into account,

Are you better of changing cash and paying commission or loading up your credit card.

I know that the bank will charge you cross border handling fees on non euro credit card transactions. BOI 1.75% and AIB 2.75%, but do you get also charged again for the currency exchange, like an exchange commision?
Or is the exchange rate worse than you would get in the same bank if changing cash?

It may be very little, but I thinking of a large transaction.


Thanks If anyone knows.

An Post now have commission free foreign exchange on US$ and Stg £ available at certain post offices,
http://www.anpost.ie/AnPost/MainContent/Personal+Customers/Money+Matters/Foreign+Exchange/

I always bring a couple of hundred in local currency - try to work out what I need for the likes of small purchases - taxis, coffees, snacks and use the credit card for everything else.

great thanks, will have to change a bit anyway for those things alright.

Just checked, their rate isn't as good as the banks. BOI seems around the best at the minute, An post were 2.11 cent less per dollar which wouldn't cover the cost of commission on larger amounts in then bank

I was more wondering about a larger amount for a single large purchase and if the exchange rate they use on the credit card is the same as you'd get in the bank branch with cash. Hard to confirm 100% by looking at the card charges and exchange charges on their website. I did ring but still not clear as they seemed a bit confused by what I was asking.

Basically I just want to know if you spending a lot in the USA, would you be better off changing cash and bringing it or loading up the credit card to be in credit for that amount an using it instead

If you were to buy something for 5k I wouldn't be bringing the cash. It would make no difference to preload your credit card as you will get the same exchange on the day of purchase.

I don't think so. Using the card, you will subject to VISA's exchange rate, not your banks. Neither will confirm the difference to me even as a percentage, BOI will only say that it isn't as good as theirs so on a larger amount, it could be hundreds. I'm trying to find out so to see if the added security is worth it