The money is believed to have been taken during a robbery at a house in Kanturk at the weekend.
Around €100,000 was taken during the break-in, which happened sometime between Sunday afternoon and Monday morning.
The house was unoccupied at the time.
Later on Monday afternoon, gardaí from Mayfield in Cork city were called to deal with a number of unruly guests at the nearby Silver Springs Moran Hotel.
Gardaí searched the room and recovered €50,000 from the safe. The money is believed to be part of the proceeds of the raid in Kanturk.
Another €15,000 was recovered later on the Lower Glanmire Road in Cork.
More cash was seized elsewhere in the city this morning.
The two men and a woman who were arrested are in their 20s and from the north Cork area.
They are being questioned by detectives at Mayfield and Gurranabraher garda stations.
Gardaí are warning people not to keep large amounts of cash in their homes and businesses, following a number of raids in recent weeks.
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