Can I use Credit Card to transfer money abroad?

[sadie]

My sister lives in Australia but has a BOI Credit Card. My elderly mother wants to give her some money, can she put this money into her Credit Card account in Euros, then can she withdraw it in her own currency?
As my mother is elderly we think managing the bank transfers will be tricky and expensive?

 

[sadie]

OK got my answer. Bank will do the transfer for us but will take over a week. Credit card cash withdrawal would be expensive, an extra fee that is not necessary.

 

[Brendan Burgess]

It's expensive to take out money in a foreign currency on a Credit Card.

Bank of Ireland will charge you two fees:
A cross border handling fee 1.75%
A cash advance fee of 1.75%

So that is 3.5%.

However, I think that they give you the mid rate of the currency which is a lot better than buying the currency and transferring it.

Not sure if there is a cheaper way to do it though. If you actually transfer cash, you will pay a currency charge and other charges.

 

[Bronte]

How about trying Western Union, maybe they are cheaper.