Use this tool to estimate the conversion value of your currency based on AIB (Allied Irish Banks) exchange rates and typical commission structures. Whether you are buying foreign currency for travel or selling it back after a trip, understanding the effective exchange rate is crucial for financial planning.
The amount of source currency you have (e.g., EUR).
Enter the 'Buy' or 'Sell' rate listed by AIB (Target Currency per 1 Unit of Source).
Standard non-electronic fees may range from 1% to 3%.
Enter any minimum transaction charge (if applicable).
Original Amount:–
Total Fees Deducted:–
Amount After Fees:–
Final Amount Received:–
function calculateCurrency() {
var amount = parseFloat(document.getElementById('exchangeAmount').value);
var rate = parseFloat(document.getElementById('exchangeRate').value);
var pctFee = parseFloat(document.getElementById('commissionPercent').value);
var minFee = parseFloat(document.getElementById('minFee').value);
// Validation
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount to exchange.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
if (isNaN(pctFee)) pctFee = 0;
if (isNaN(minFee)) minFee = 0;
// Logic: Usually commission is taken from the source amount before conversion
// 1. Calculate Percentage Fee
var calculatedPctFee = amount * (pctFee / 100);
// 2. Determine Actual Fee (Greater of Pct Fee or Min Fee)
// Note: If Pct Fee is 0 and Min Fee is set, use Min Fee.
// If both are set, banks usually take the higher of the two or add them depending on policy.
// For AIB typical generic logic: Commission is often a % with a minimum cap.
var totalFee = calculatedPctFee;
if (totalFee < minFee) {
totalFee = minFee;
}
// 3. Calculate Net Amount to Convert
var netAmount = amount – totalFee;
// Edge case: Fee exceeds amount
if (netAmount < 0) {
netAmount = 0;
}
// 4. Convert
var finalAmount = netAmount * rate;
// Display Results
document.getElementById('displayOriginal').innerHTML = amount.toFixed(2);
document.getElementById('displayFees').innerHTML = totalFee.toFixed(2);
document.getElementById('displayNet').innerHTML = netAmount.toFixed(2);
document.getElementById('displayFinal').innerHTML = finalAmount.toFixed(2);
document.getElementById('results').style.display = 'block';
}
Understanding AIB Foreign Exchange Rates
When dealing with foreign currency exchange at AIB (Allied Irish Banks) or any major financial institution, it is essential to distinguish between the "Buy" rate and the "Sell" rate. These rates determine how much foreign currency you get for your Euro, or how many Euros you get back for your foreign notes.
How to Read the Rates
Sell Rate: The rate the bank sells foreign currency to you. If you are going on holiday to the USA, you look at the Sell rate (converting EUR to USD).
Buy Rate: The rate the bank buys foreign currency from you. If you return with leftover Dollars, the bank uses the Buy rate to convert them back to Euros.
Commissions and Fees
Aside from the exchange rate margin, banks often charge a commission fee for the service. This calculator allows you to input:
Commission Percentage: A standard percentage of the total transaction value.
Minimum Fee: A floor price for the transaction. For smaller amounts, the minimum fee often applies rather than the percentage, significantly impacting the effective exchange rate.
Electronic vs. Cash Rates
AIB, like many modern banks, often offers different rates for electronic transfers (International Payments) versus cash (Foreign Currency Notes). Electronic rates are generally more favorable (closer to the market mid-rate) compared to cash rates, which incur higher handling and logistics costs for the bank.
Using This Calculator
Since exchange rates fluctuate constantly during market hours, this calculator allows you to input the specific rate you see on the AIB website or in-branch board. By inputting the exact rate and the applicable commission, you can see exactly how much money will end up in your pocket, preventing surprises at the teller counter.