What are the An Post (Post Office) exchange rates in Ireland?

In our increasingly connected world it’s not surprising that you’ve found yourself needing to find a service that can help you exchange currencies. The trick to this is choosing one that suits your needs while also minimising any fees and having a favourable exchange rate.

One provider that’s pretty easy to find in Ireland is An Post. We’re going to explore An Post offers for foreign currency exchange including how it works, the exchange rates and some of the fees.

We’ll also introduce you to Wise, an e-money services provider, as a good alternative in Ireland. Wise always uses the mid-market exchange rate (the same you find on Google) for international payments and currency exchange.

Wise: Send money to
160+ countries 🌏

An Post exchange rate: How does it work?

An Post in Ireland has a few different products on offer to help with your foreign currency needs:

• Money transfers via Western Union
• An Post Money Currency Card
• An Post Foreign Exchange Cash

🔎 The An Post exchange rates and fees do vary between the products so we’re going to delve into each one separately.

Sending money abroad with An Post via Western Union: What is the exchange rate?

If you want to send money to someone outside of Ireland you can do it in person at an An Post branch using Western Union.¹ The exchange rate for this type of transfer is given to An Post by Western Union.

Western Union takes the commercial interbank rate and adds a profit margin to determine their exchange rate.² Most of the rates will update several times a day based on when the foreign currency market is open.

Unfortunately, Western Union doesn’t share their margin or spread online so to give you some context we’ll compare it to Wise, which also allows you to send money internationally to over 70 countries.

Here’s the exchange rate and cost to send 1000 EUR to a GBP bank account in the United Kingdom using Western Union at An Post and Wise:

Provider	Fee	Exchange rate	Receiver gets
Western Union at An Post	€53¹	1 EUR = 0.8661 GBP³	£866.14
Wise	€5.14 (low cost via bank transfer)	1 EUR = 0.8792 GBP	£874.68

Comparison made on 27 January 2023 at 09:22 am with information available at Western Union website (exchange rate), An Post website (fees) and Wise website.

As you can see there’s a bit of a difference in the rates offered by Western Union and Wise. It’s because unlike Western Union, Wise uses the mid market rate with no added margin.

🔎 Bankers and merchants are constantly buying and selling different currencies. Mid-market rate means the midpoint between the best price at which banks are buying the currency, and the best price for which banks are selling the currency. Since that’s the rate the market naturally sets, it’s a fair way to determine the exchange rate.

An Post cash currency exchange

At An Post you can exchange euros for cash in 5 currencies:

• Pounds sterling - GBP
• United States dollar - USD
• Canadian dollar - CAD
• Australian dollar - AUD
• Polish zloty - PLN⁴

An Post says that does not charge a commission for exchanging foreign currency cash⁴, however their exchange rate isn’t the most favourable.

Here’s the exchange rates for the 5 currencies An Post allows you to exchange in store compared to Wise mid-market rate online:

Currency	An Post⁴	Wise
GBP	0.8466	0.87920
USD	1.0483	1.08695
CAD	1.4051	1.45048
AUD	1.475	1.53189
PLN	4.5272	4.71080

Comparison made on 27 January 2023 at 09:25 am with information available at An Post website and Wise website.

As you can see the Wise rate is a bit higher than the An Post rate across all five currencies. This is good for you because a higher rate means you’re getting more foreign currency in your pocket for the same amount of euros. 💶

Given the difference between the An Post and Wise rates, An Post most likely applies a margin to their exchange rate.

⚠️ So even with the 0% commission they claim to have on their website⁴, it doesn’t automatically mean you’re getting the best value for money, and the fees for converting currencies are most likely included on the exchange rate.

Since Wise is an online provider there aren’t any in person cash exchange options, but you can use a Wise debit card to withdraw currency from foreign ATMs when you get to your destination.

You get two withdrawals of up to 200 EUR each month free, after which it’s 0.5 EUR per withdrawal. There’s also a 1.75% fee on any amount you withdraw above 200 EUR.⁶

Open your Wise Account today 💳

It's important to note that some additional charges may occur from independent ATM networks, so pay attention when withdrawing money. ATMs will usually display the information on the screen.

An Post currency card exchange rates

If you prefer to use a card over cash then you could get an An Post currency card, which can be loaded with 15 different currencies:

• Australian dollars (AUD)
• British pounds (GBP)
• Canadian dollars (CAD)
• Czech koruna (CZK)
• Euro (EUR)
• Japanese yen (JPY)
• Mexican peso (MXN)
• New Zealand dollars (NZD)
• Polish zloty (PLN)
• South African rand (ZAR)
• Swedish krona (SEK)
• Swiss francs (CHF)
• Turkish lira (TRY)
• United Arab Emirates dirhams (AED)
• US dollars (USD)⁶

The An Post Currency Card exchange rate is different to the one they use for cash exchange.

As an example, here’s the An Post Currency Card exchange rates for 5 of the supported currencies compared to the mid-market rate that Wise offers.

Currency	An Post Currency Card⁴	Wise
GBP	0.8554	0.87920
USD	1.0592	1.08695
CAD	1.4197	1.45048
AUD	1.4904	1.53189
PLN	4.5743	4.71080

Comparison made on 27 January 2023 at 09:25 am with information available at An Post website and Wise website.

Comparing these to the An Post cash exchange rate, you get a better exchange rate with the Currency Card but there’s still a difference with Wise, which uses the mid-market rate. This suggests that once again there is a margin applied to the An Post exchange rate.

⚠️ An Post also says that their Currency Card is commission free for foreign-currency transactions but their fees are most likely included on the exchange rate - and as we see, it's different from the mid-market rate.

There are other fees to consider when using An Post Currency Card, and here are some of the main ones you could run into:

• A flat rate ATM withdrawal fee that varies depending on the currency
• 1.25% charge on euro currency purchases
• 1.25% fee for top-ups and withdrawals at post offices, with a maximum of €8.00 on withdrawals.
• For purchases made in a currency not on the card or that you don’t have enough balance for, another currency will be converted using the Mastercard rate with a foreign exchange fee of 5.75%. ⁵

As you can see the fees vary depending on what you’re doing and how, and may be a little tricky to work out when you're out and about.

💡In comparison, Wise has made it very easy. You can jump on the Wise website any time and use the pricing page to find out exactly what a transaction will cost you.

🔎 Read more An Post Money Current Account

Wise: Send money abroad and convert between currencies with no markup

We’ve mentioned Wise a few times now so let’s explain what Wise offers in a bit more detail.

With a Wise Account you can hold and convert 40+ currencies and send money to more than 70 countries around the globe.

You can also order a Wise debit card and use it to spend money in 150+ countries, with no extra fees for using it in Ireland or the Eurozone when you have Euro in your Balance.

Unlike An Post, Wise uses the mid market rate for currency exchanges with no added profit margin. It’s a fair rate because it’s based on the midpoint between the buy and sell prices for a certain currency.

And when you send money abroad with Wise you’ll always know the fees, charges and exchange rate upfront, before you commit to the transfer:

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

FAQ about An Post Ireland currency exchange

How to check An Post currency exchange rates today?

To check the An Post exchange rates for cash exchange and the currency card, you can visit their website and look at the foreign currency rates table. Alternatively you can use their Foreign Exchange Calculator.⁷

Does An Post do currency exchange?

As we mentioned, An Post does do foreign currency cash exchanges for 5 currencies. To exchange euros for foreign currency here’s what you need to do⁴:

1. Visit a participating An Post
2. Complete the application form
3. Provide your passport or EU drivers licence for amounts over €1000
4. Pay for the exchange using Euros or your debit card.

Is there an alternative to An Post in Ireland?

If you’re looking for an alternative solution to An Post then Wise is definitely worth considering.

Opening a Wise Account is free, and you'll be able to hold and spend 40+ currencies,⁷ more than An Post supports. You’ll always get the mid market exchange rate and can order a debit card to use around the world.⁸

Open your Wise Account today 🚀

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Sources used:

1. An Post - Money Transfers
2. Western Union - Online Money Transfers Terms and Conditions
3. Western Union - Send money online
4. An Post - Foreign Exchange Cash
5. An Post - Currency Card Charges
6. Please seeTerms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
7. Eligibility is subject to verification of customers identity
8. Country restrictions apply. Visit http://wise.com/ie

Sources last checked on date: 27 January 2023