If you are travelling to the UK, USA or any other country that doesn’t use the Euro – it can be very easy to use your Irish debit card to withdraw local currency at an ATM . The exchange rates given by your card provider at the ATM may be better than you would get by exchanging currency before you travelled… but how much extra will you end up getting charged by your bank for using the ATM abroad ?
These are the ATM Charges for Non Euro cash withdrawal for the main Irish banks.
Ulster Bank 2% (min €3, max €12), plus foreign exchange fee of 1.5%
(Tip: If you use an ATM at Easy Cash,RBS or NatWest , you will not be charged )
AIB – Currency conversion fee of 2.5% (not capped) plus commission of 1% (min €2, max €6)
BOI,PTSB and KBC all 3.5% (min €3.17, max €11.43)
This is how much a withdrawal of £300 (Approx €414 Euro) at an ATM in the UK will cost you
UlsterBank : €14.49 (Free at NatWest or RBS)
AIB : €14.49
Making a smaller withdrawal of £50 (€70) will cost you :
€3.17 with BOI, KBC and PTSB cards,
€3.75 with AIB
€4.05 with Ulster Bank. (Free at NAtWest / RBS)
With all cards you should avoid making lots of small withdrawals – as this will end up costing you much more in the long run .
For example – a £10 ATM withdrawal (about €12) in the UK would cost you €3.21 with Ulster , €3.17 with BOI KBC or PTSB and €2.35 with an AIB card
Five withdrawals of £10 would end up costing you as much as €16 – but one £50 withdrawal would cost at most €4.05
These bank charges for ATM withdrawals apply in all non Euro currency countries including USA , Australia, New Zealand , India, Poland, Denmark , Croatia and many more.
(Note: The charges listed above do not include any of your own bank’s transaction fees which can be typically 20c . See Current Account Fees in Ireland. Exact tranasaction fees vary from bank to bank and may be waived if certain conditions are met. The transaction fee for withdrawals of Euro abroad should always be the same as if you were in Ireland)
Some ATMs abroad will also make an extra “usage” or admin charge – they should display how much (if any) before you withdraw the cash
Compare these ATM charges with Debit and Credit Card Charges when spending in non Euro currencies.
Sometimes , buying the currency before you travel can work out cheaper if you feel OK carrying a lot of cash with you. If you want to see the best place to buy Sterling or Dollars in Dublin or the rest of Ireland – take a look at this Comparison of Foreign Currency Exchange in Ireland
Figures checked April 2016
If you are looking to transfer larger amounts of Euro to Sterling – take a look at our page on how to get the Best Euro Sterling Exchange Rates