In our new year resolutions list we suggested that you consider opening a euro account, ideally if you are self-employed or have a small business, but also if you travel abroad frequently and expect to be making cheque or credit card purchases in other EMU countries.

However, the friendly voice at the end of the AIB euro-helpline told Family Money that opening a dedicated euro account really is not necessary if you are simply visiting another euro state as a tourist. "All personal accounts will now show the value of debits and credits in both pounds and euros," he told us. "Since the rate of exchange has been set, if you use your existing Irish pound credit card in another euro country, either for a euro purchase or in francs, marks, whatever, it will appear as that price on your existing account.

"Your Irish pound ATM card can still be used to withdraw currency in another country so long as it shows the Visa Plus sign outside and there will no longer be any currency exchange charges or margin, other than a flat £3 charge."

Euro notes and coins will not be available until 2002, so it is still advisable to buy a small amount of currency before you go - the banks are still charging for this service - but the commission rates they charge vary considerably and it is worth shopping around for the best rate.