If you are planning on travelling to Australia for a few months or longer – it can be wise to bring some cash with you. You might want to compare the Euro to AUD exchange rates on offer before you buy. There are a few places in Ireland where you can carry out currency exchange and swap your Euros for Australian Dollars (AUD) . (An Post don’t sell AUD – they only deal in Sterling and US Dollars .)
Euro to AUD Exchange rates will change every day – but we carried out a quick comparison of three currency exchange companies on the same day to find out the Best Australian Dollar Exchange Rate in Ireland .
We checked how much it would cost in Euros when buying $AUD 1500 cash. We compared the figures from the currency companies websites at roughly the same time on 19th February 2020.
The Best Deal was At the No1 Currency Website where it would have cost €974.79 for 1500 AUD . You can order and pay for it online and get it delivered to your door for free. The delivery is by An Post registered post and is fully insured . (Orders under €750 cost €9.95 for delivery) . Minimum order is €400. Popular currencies such as Sterling and US Dollars should usually be delivered next day if ordered before noon. Other currencies will take 2 to 3 days. You can check their current exchange rates on the No1 Currency Website
2: Bank of Ireland would have charged €979.10 for $AUD 1500. (€971.75 + fee of €6.35). Collect only.
3: At CurrencyExchange.ie they were quoting a slightly higher price of €979.43 for 1500 Australian Dollars. You can reserve your currency online for collection and pay for it when you pick up. But- they only have 2 pick up locations in central Dublin. They do not deliver.
4: The worst deal we found was from ICE ( International Currency Exchange) http://www.ice-ireland.ie – it would have cost you €989.44 for AUD1500 . You can reserve your currency online and then collect it and pay for it at their Dublin Airport kiosks.
(An Post are not included in this comparison because they don’t sell Australian Dollars)
Tip: If you are planning on going to Australia for a longer period of time – you might need information about bank transfers of larger amounts of money . You should take a look at Dublin based currency marketplace Currency Fair .
They also have useful tips about Opening a Bank Account in Australia
Another useful option for visiting Australia is Transferwise. Their “bordlerles”s account lets you have your very own bank details to receive Australian dollars (AUD) with zero fees. (In addition to a GBP, NZD, EURO and USD accounts.)
You can then give your AUD account name, number and BSB code, to your friends, company or clients mers, and they can send you AUD from any Australian bank account. And no one pays any fees.
With Transferwise you can also get a Debit card for spending in Australia (or any other country.) with no extra fees.
Also you should read our article on getting the Best Currency Exchange Rates
Alternative to Cash
Another option to consider for spending when in Australia is the N26 Bank Account. It is an “online only” bank account based in Germany with a full EU banking licence. You can operate the account from your smartphone , tablet or laptop. (Some people in Ireland use N26 as their sole bank account .)
The N26 Mastercard debit card has no fees when making purchases in Australia or other non Euro countries . The exchange rate will be the same as used by any other Mastercard card.
Revolut, another online only operation – is also an option . You could get both just to be sure . See our Comparison of N26 Vs Revolut for more information.
There is also the option of using an ATM in Australia to withdraw AUD – but this should only be a temporary solution. See here for details of ATM Charges Abroad .
We also did a recent comparison on the cost of buying US Dollars in Ireland
Useful Tip on Travel Insurance:
Bank of Ireland give pretty good free worldwide multitrip travel insurance with their Platinum Credit Card . You just need to pay for at least 50% of the trip with the BOI card to be eligible.
Bank of Ireland also provide a free basic travel insurance policy with their Student Credit Card. It still covers up to €1 million in medical expenses and €1000 for cancellations. It is valid for trips of up to 120 days – which is good for students / backpackers on a longer trips .