International Cash Prize Questions
July 17, 2024 4:01 PM   Subscribe

I recently one a cash prize for a fiction competition and traveled to Ireland for the associated literary festival. The prize organizer could not pay me with a check so he paid me in cash. It's a not enormous, but also not small amount of money. I fly back to the US in a couple of days. What is the best/least rip-off-y way to convert this into dollars and get in my US bank account? If it helps, I'll be in Dublin tomorrow.
posted by thivaia to Work & Money (7 answers total)
 
Response by poster: *won* (it's late) and I suck at editing myself
posted by thivaia at 4:02 PM on July 17, 2024 [2 favorites]


Just take it to a branch of your bank when you get back to the US? Maybe call them to double-check that they'll buy back euros.
posted by holgate at 4:18 PM on July 17, 2024 [2 favorites]


Perhaps check the rate your bank offers to buy Euros and compare to the rate a bank or exchange bureau would offer to sell USD in Dublin. Use whatever option is more favourable.
posted by koahiatamadl at 4:25 PM on July 17, 2024 [1 favorite]


Is it too late to go back to the organizer and ask him to transfer the prize money from his? the festival's? bank account to yours in the US via Wise?
posted by TWinbrook8 at 4:45 PM on July 17, 2024 [2 favorites]


When I travel I always figure you'll get a better exchange rate in the smaller economy but USD and EU are both huge so I don't think it would make much of a difference either way.
posted by any portmanteau in a storm at 4:45 PM on July 17, 2024


The conventional wisdom is that you always want to be buying the local currency since there are typically many ways to do so that compete with money changing: ATMs, other people, etc. I would call a non-airport bureau de change if you can, go in person otherwise and see what they will give you net of all fees. Beware that some don’t charge “commission” but do have extremely unfavorable exchange rates. If it’s at least a few hundred US I wouldn’t take less than 90% of the interbank rate. But my guess is you’ll do better coming back to the US.
posted by wnissen at 5:08 PM on July 17, 2024


If it happens to be more than 10k USD equivalent, and you carry it back, make sure you declare it.
posted by cacao at 6:11 PM on July 17, 2024 [9 favorites]


« Older How to change my mindset because I can't change...   |   How to address loud typing with new employee. Newer »

You are not logged in, either login or create an account to post comments