Money & costs
Costs
There are no two ways about it: Ireland is an expensive destination by any standards. The country is obsessed with what they call ‘rip-off culture’, which hurts locals as much as visitors. The sting is felt most everywhere, but visitors will feel it most when it comes to bed and board.
In Dublin, the bare minimum to survive is about €50 a day: €20 to €25 for a hostel and €20 for sustenance, which leaves enough for a pint. Outside the capital things are a little better, but not much: if you’re in a tourist hot zone it’ll be reflected in the prices, which are only marginally better than in Dublin. If your purse strings are a little more relaxed, you can get a decent bed for around €80 in the capital, €60 outside of it. For €120 you can sleep pretty luxuriously most anywhere except those very special places.
No matter where you are, eating out is expensive. For less than €10, don’t expect much more than soup and what comes in between two slices of bread. Very ordinary meals will cost €20 or more; the better restaurants won’t blink twice when charging €35 for the fish in a fancy sauce.
Car rental is also costly in Ireland. Be sure to check your car-insurance policy back home before accepting the exorbitant insurance policies offered at car-rental agencies. If your credit card usually covers car-rental insurance, confirm that the policy applies in Ireland.
Money
Tips of around 10% in metered cabs and in restaurants where the service charge isn’t included are expected.
Cash & travellers cheques
Nothing beats cash for convenience – or risk. It’s still a good idea, though, to arrive with some cash in the local currency (both euros and sterling, if travelling to the North) to tide you over.
Amex and Thomas Cook travellers cheques are widely recognised and they don’t charge commission for cashing their own cheques. Eurocheques can also be cashed in Ireland. Travellers cheques are rarely accepted outside banks or used for everyday transactions (as they are in the USA).
Take most cheques in large denominations. It’s only towards the end of a stay that you may want to change a small cheque to make sure you don’t get left with too much local currency.
International transfers
The most practical way to receive money from overseas is by telegraphic transfer. There are two ways to do this. The first can take up to eight days through the banking system. Your bank sends money to an Irish bank nominated by you. You will need identification, most likely a passport, before the money is paid to you in euros, minus the transfer commission.
The quickest way to receive cash from home is to transfer it through Amex, Thomas Cook or Western Union.
It is not practical to receive money by bank draft. Irish banks are notorious sticklers about drafts and won’t allow you to cash them unless you first open a bank account, a small bureaucratic nightmare. Even then, it can take three weeks to clear. If you’re not planning a long stay, stick to telegraphic transfers.
Taxes & refunds
Value-added tax (VAT) is a sales tax of 21% that applies to most luxury goods in Ireland, excluding books, children’s footwear and second-hand clothing. Visitors from non-EU countries can claim back most of the VAT on purchases that are subsequently exported from the EU within three months of purchase.
Most shops in the Republic and Northern Ireland operate a taxback scheme – the most popular are Cashback and Ireland Tax Free – which operate roughly as follows: if you’re a resident of a country outside the EU and buy something from a store displaying a Cashback or Ireland Tax Free sticker, you’ll be given a relevant voucher with your purchase which can be refunded directly on to your credit card or in US, Canadian or Australian dollars, British pounds or euros at Dublin or Shannon airport; one advantage of Ireland Tax Free is that you can reclaim your tax at the nearest Travelex office, usually Thomas Cook.
If you reclaim more than €250 on any of your vouchers you’ll need to get the voucher stamped at the customs booth in the arrivals hall at Dublin or Shannon airport before you can get your refund from the Cashback desk.
In Northern Ireland, shops participating in the Tax-Free Shopping refund scheme will give you a form or invoice on request to be presented to customs when you leave. After customs have certified the form, it will be returned to the shop for a refund.
Ireland
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