ATMs in Ireland: Credit cards and fees
If you’re headed on a trip to the Emerald Isle, you can expect to be able to use most international debit and credit cards. However, it’s always a good idea...
Best Dublin currency exchange places (2022)
Traveling to a new country is always new and exciting, but often you might find yourself wondering where to exchange currency nearby.
Worry not, if you’re in Dublin, we’ll cover a few options for you to switch your dollars.
| If you don’t want to worry about carrying cash and going after a currency exchange place in Dublin, Wise might be what you need. You can send, hold and spend in over 50 currencies like a local. |
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Ireland: currency overview
First off, in case you’re wondering something along the lines of “does Ireland use the euro?”, the answer is yes. The currency in Dublin — and the rest of Ireland — is the euro.
The currency symbol is €, you can also find it written as EUR in currency exchange shops.
Check out today’s rate below:
Things you should know before exchanging currency in Dublin
It’s worth taking the time to learn how exchange rates work and where you’ll find the fairest deals in Dublin. Here are a few facts you can keep in mind when exchanging your currency.
The euro is a floating currency
As a floating currency, the euro’s value tends to go up or down depending on supply and demand.
Many other factors can affect exchange rates, such as inflation, interest rates, economic and political events. To keep updated on the fluctuating exchange rate, you can sign up for exchange rate alerts to receive notifications when the rate changes.
Know the actual exchange rate
If you want to get the best deal when buying euros, you should keep in mind the mid-market rate. This is also known as the spot rate or interbank rate. This is the fairest possible exchange rate you can find.
Unfortunately, currency exchange services will not offer you the mid-market rate. They’ll instead advertise a lower rate, the difference being due to the commission they’re adding in — this is usually called exchange rate spread.
So discredit any claims of ‘zero commission’, as this extra charge is being disguised in their exchange rate.
To help ensure you receive the best exchange rate in Dublin, you can keep a close eye on the rates by checking an online currency converter.
Avoid currency exchanges in Dublin airport and hotels
Exchanging currency at the airport or hotel is convenient, but that convenience comes at a price. Because they’re often a last resort, kiosks at hotels and airports offer unfavorable exchange rates and higher fees, thus making it very unlikely you’ll get a fair deal.
Watch out for ATM withdrawal fees
Most Irish ATMs accept both Visa and MasterCard, so it’s simply a question of using your credit or debit card to make a withdrawal.
Keep in mind though that you may be charged a fee for using the ATM. It’s best to always check with your bank back home to see whether they charge any fees for using foreign ATMs within the EU.
While using an ATM to withdraw the local currency can be very handy, it can turn into a very bad deal if you’re not careful.
Some ATMs will offer to charge you in your home currency. This sounds nice in theory, but is actually a bad idea.
If you agree to be charged in your home currency, you’re allowing the ATM to apply its own exchange rate to the transaction — which usually ends up costing you a lot more than you were hoping for.
When asked which currency to be charged in, always choose the local currency— in this case, EUR.
Don’t buy back your home currency
While it may be tempting to exchange your euros back to USD, this is rarely a good idea.
Converting cash back means you’ll be paying conversion fees twice on the same money. Instead, try budgeting so you don’t have any money left over after your trip, or spend your leftover cash.
You could even save the euros for a trip in the future or sell them to a friend at the rate you bought them.
Exchange money in a few clicks with Wise
If carrying cash around and hunting for a place to exchange money is not really your thing, make sure to try Wise.
You can add money in your account by paying with bank transfer or card, and convert it with the mid-market exchange rate to over 50 currencies .
For easy spending abroad, you can also get the Wise card and pay like a local wherever you are. And of course, you’ll also be able to withdraw cash if you still like to carry some change around.
Say goodbye to overcomplicated currency exchange.
Where can you exchange currency in Dublin?
Well, we’ve already been through some of the options you have and aspects to watch out for. So if you’re still into the idea of carrying cash around and exchanging it in loco, here are some popular foreign currency exchange locations in Dublin.
One last reminder, though: there’s no such thing as fee-free or 0% commission foreign exchange transactions. So, always check the mid-market exchange rate in advance, so you know how much your money’s worth.
N⁰1 Currency Exchange¹
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| Contact information |
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FCEI — Foreign Currency Exchange International³
| Shop 1⁴ | Shop 2⁴ |
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Can you exchange money in the Post Office in Dublin?
Besides traditional currency exchange bureaus, you can also get euros in Dublin’s AN Post offices⁵ — they are scattered around town in over 30 locations.
You can browse their website and find the one closest to you⁶. Keep in mind that working hours and available services might vary by branch.
While it’s possible to find decent foreign currency exchange spots in Dublin, it's important to check the exchange rate that’s been offered to you — and also to be wary of ATMs.
So make sure to find the option that best suits your needs in terms of sending and spending money in Ireland, and don’t forget to check Wise out while you’re at it.
Make sure to find the option that best fits your needs, but don’t forget to check Wise while you’re at it.
Sources:
- N1 Currency
- N1 Currency - Near me
- FICE
- FICE - Our location
- AN Post - Foreign exchange
- AN Post - Store locator
Sources checked on 02.23.2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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