2 Quick Questions
 

Going to Ireland next week. Have some last minute questions: <BR> <BR>1. Have rented a car to tour the countryside. Someone told me you should get an International Driver's License. Is this necessary (don't have much time to secure one)? <BR> <BR>2. Understand that to get the best exchange rate, you should use credit cards and ATMs, but as we will be arriving in the early morning in Dublin and will undoubtably be a little tired, thought it might be good to have some cash in hand to do things at least for that day. Where would I be best off getting the best rate? Local currency exhange office, stateside airport, Dublin Airport? <BR> <BR>Appreciate any input.

an International drvier's license is basically just a translation of your license into several other languages. I don't believe it is required in English speaking countries. Even if it was, it is extremely likely that no one would ever ask you for it. AAA is where you get them, it takes no time at all. You can call AAA and ask if they are required for Ireland. They told us no for the UK last year, yes for Italy this year. <BR> <BR>I always like to get some currency from the bank at home before I leave. Chances are there is an ATM in the airport in Dublin where you can get some, but it makes me feel better to have a little cash in my pocket so I don't have to worry. Most of the commercial banks in the States will do that for you, just call in advance cause sometimes they don't have any on hand.

Has anyone used SkyTeller.com? I am thinking of using this service for advance purchase of Spanish $$. Have used similar service offered by travel agent. Here, most local banks do not have foreign currency available. <BR>

Hi Chris: <BR> <BR>If you can, try to get some Irish money (punt) before you leave. This way you won't have to deal with any kind of exchange when you arrive. Even though the exchange rate may not be the best, it is well worth not having to hassle when you're tired. <BR> <BR>Also, we always bring a few hundred dollars worth of travellers checks in the smallest denominations possible. They come in handy. <BR> <BR>Have a great trip! <BR>Carol

Regarding the better exchange rates from credit cards - I totally utterly dispute this. Recently returned from Ireland to the UK. Used my credit card for purchases, as well as changed some cash at my local American Express before I left. Out of curiousity I checked the exchange rate charged on the statement. Yeap - you guessed it. The local Amex gave me a better rate 2.195 as opposed to 2.08 - okay not a huge amount, but enough! <BR>

Me again - sorry if I've confused anyone. The exchange rate I meant to put was 1.195 opposed to 1.08... <BR>

<BR>Hi Chris, <BR>No, you do not need an international drivers licence for Ireland. <BR>Hope you have a wonderful time. <BR>Lee

We drove in the Republic and Northern Ireland with just our U.S. driver's licenses - they were accepted by the rental company in Dublin, so the International License isn't a requirement. <BR>I always like to have about $50 in local currency when I land. I get it at my bank, or the American Express office. You're right - when you land, you're tired, jet-lagged and don't have the mental acumen to deal with an ATM at that moment. If you want to buy a coffee or a soda or a newspaper, you've got the ready cash (after a coffee, I can gather enough wits together to handle an ATM). <BR>In the years I've been traveling and exchanging currency, I've never found that any exchange bureau ended up costing less than an ATM or credit card. The rate might be lower, but I've found that they charge a 'fee' of some sort - either a percentage of the transaction or as a flat fee. Jo, I'm curious - when you got your foreign currency at the American Express office, did the slip show any additional fee? Also, some banks are charging a 'conversion' fee if you use it to get foreign currency (recent posts on this) which could change the cost. Anytime you 'convert', you are in essence buying the other currency - and just like buying a car, the base price doesn't include "fees" that might be charged... <BR> <BR>

Chris, <BR> <BR>You definitely don't need an international drivers liscense - I rented a car a year ago in Ireland and my US liscense and a credit card were sufficient! And, they didn't even give me a hassle about not being 25 like they would in the US. <BR> <BR>You'll have a wonderful time - Ireland is an amazing country. And driving on the other side of the road certainly adds to the adventue.

Me again... <BR> <BR>Thanks everybody for the input. Very valuable info. Also, thanks for the well wishes. I'm really pumped up for the trip. When I'm relaxing and taking in the sites of a local pub, drinking a Black and Tan, I will toast one for you all!!! <BR> <BR>Take it easy.

No - that was a flat rate, No Commission. Normally, yes there is a £2GBP charge on all cash transactions. I had a voucher that let me off that though. <BR>

That's interesting Jo. Most people have said the opposite. Will look for a local Amex office. Thought maybe that an exchange office would make up the difference in "fees". Maybe as a card member I can avaoid transaction fees as well.

Hi Chris, <BR>one other thought, might be useful as an Amex card holder. If you run short of cash, and the ATM's giving you trouble, American Express will cash a personal check for card holders. This doesn't have the fees associated with a credit card cash advance, and can be a good emergency backup plan. I usually take just one or 2 blank checks along in my wallet, just in case.

Beth - Another good idea. One follow-up question though regarding no fee for personal checks. AMEX will issue you a PIN for your card to use ATMs. But unlike a cash advance, they withdrawal directly from your designated checking account (much like a debit card). The fee associated with this service is 2% of withdrawal, with a Min. $2 and Max. $20. Seems strange that they would charge for simple electronic process, but not for cashing a check manually, although the process is essentially the same.

Yet another question. <BR> <BR>Just got done talking to the people at Thomas Cook (Currency Services) who recommended that we get British Pound Traveler Cheques in lieu of US Dollar Cheques as they are easier to purchase items directly in Ireland. She also said the rate is better. But if ultimately you're going from US Dollars to Irish Punts (whether you use British Pounds as an intermediary or not) won't you be getting the same conversion? Not sure if I'm expressing this well, but I'm curious if you all think Thomas Cook's recommendation has any merit. Thanks again in advance...

TCs in foreign currency work if you USE EVERY ONE. Here's how foreign currency works: buy on the offer, sell on the bid. You BUY foreign currency (TCs are no different) at a price; when you have it leftover, you SELL IT BACK AT A LOWER PRICE. Unless currency markets move dramatically, you lose money on the sell side. Better off using TCs in your own currency; if you don't use them all, just deposit them to your bank acct. No cost on the transaction. <BR>I learned the hard way years ago when I thought I was so clever to have ff TCs. Didn't use all of them, get killed on "selling" them back to Thomas Cook. <BR>Fool me once, shame on you; fool me twice, shame on me.

Elvira - Yes, understand you sell back for less. So are there any real advantages to BP TCs versus USD TCs??? Thought I would get some BP TCs, upon recommendation, if the buying power was better or easier to use, but starting to wonder what the real advantage is here.

Chris -- <BR> <BR>I flew into Dublin a couple of months ago and got money at the ATM in the airport. It was no problem and the exchange rate was fine. The ATM was near the airport exit. One hint, though. If your PIN is made up of letters rather than numbers, before your trip check out at an ATM here what the corresponding numbers are. I believe the ATMs there only have numbers on the keypad. My sister's PIN is made up of letters and she had to guess at what the correct numbers were. Otherwise, everything was so easy. I hope you have a great time!

Chris, as far as I can tell, there's no reason to buy TCs in foreign currency (unless you're sending a deposit for something, then it makes sense). They are no easier to cash than ones in US$. You STILL have to 'buy' the foreign currency (whether it comes in the form of a 200ff note or 200ff TC, it's still foreign currency) and take it on the chin. Then, selling it back if you don't use it (whether in 50BP note or a 50BP TC, it still has to be "sold" for US$) means another hit. <BR>About the only real reason to do it is to lock in a good rate, which doesn't really make a lot of difference unless you're talking thousands of dollars, because the fees will chew up any gain you might have, if doing only several hundred dollars. <BR>The math (rough example): Buy 500bp at $1.65 = $825. Cash a TC at most cambions, and they tack on 5% = $41.25 (doesn't matter it's in local currency). Your 500bp now costs $866.25, which is $1.73 per BP. Now, suppose you have 100 BP left and you 'sell' it back to your bank or Thomas Cook for about $1.61 (fondly known as "the spread"). That's ($161) + $866.25 = $705. Divide that by 400 (you had 500, sold back 100, now you have 400 that you actually used). Now each BP cost you $1.76. <BR>Sooooooo....use ATM and credit cards as much as possible. Take a few hundred in US$ TCs for emergencies (get them in $100 denominations). If you don't use them, you can just deposit them at your bank, no fees.

Elvira - I've done some looking around since I posted that last reply coming to the same conclusions you did. <BR> <BR>I totally agree with everything you said and in fact have done just that. Some punt for the short term upon arrival and USD TC for emergency. Plan on using CC and ATM ( have confirmed PINs, etc.). <BR> <BR>Leave on Thurs. Thanks again for all your input.