Currency Exchange
Thread Starter
Nordschleife Master
Joined: Jun 2001
Posts: 5,159
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From: Minneapolis, USA
Currency Exchange
Oh my gosh. Different currency is really expensive in my area, to get a check cut. Like $25USD, no matter what the amount.
Anyone have a way around it, as I will need to send a check to Olli in Euros?
Anyone have a way around it, as I will need to send a check to Olli in Euros?
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Joined: Apr 2003
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From: Nor. Cal.
I know that PayPal can be used in Euros. If you both have an account, or want to set one up. May not be the best solution for Olli if he doesn't already have/use a PayPal account as it can delay getting his check out of his electronic balance, but might be an option.
Also, what about the currency exchange places at international airport terminals. Might they cut a check in Euros for cheap(er)? Maybe worth a look.
Tom
Also, what about the currency exchange places at international airport terminals. Might they cut a check in Euros for cheap(er)? Maybe worth a look.
Tom
Instructor
Joined: Jun 2003
Posts: 192
Likes: 2
From: Phoenix, AZ
Go check out this web site:
<a href="http://www.xe.com/ucc" target="_blank">http://www.xe.com/ucc</a>
It's the best one out there because it does verify the rate TODAY and not what it was like 1 week ago, so you don 't get any surprises.
<a href="http://www.xe.com/ucc" target="_blank">http://www.xe.com/ucc</a>
It's the best one out there because it does verify the rate TODAY and not what it was like 1 week ago, so you don 't get any surprises.
Thread Starter
Nordschleife Master
Joined: Jun 2001
Posts: 5,159
Likes: 2
From: Minneapolis, USA
Thanks George, but I need to actually have a check drawn up. The charge for that is rather high. I haven't even gotten to the exchange rate being right.
I'll probably just send him a wire transfer since it is going to cost the same anyway and the buy/sell rate will be tighter. At least I will save postage on a wire. <img border="0" alt="[ouch]" title="" src="graemlins/c.gif" />
I'll probably just send him a wire transfer since it is going to cost the same anyway and the buy/sell rate will be tighter. At least I will save postage on a wire. <img border="0" alt="[ouch]" title="" src="graemlins/c.gif" />
Thread Starter
Nordschleife Master
Joined: Jun 2001
Posts: 5,159
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From: Minneapolis, USA
Olli is a motivated Porsche owner, not a business. I've been declared an Honorary Finn, and got in on the clear lens deal. So having him set up a merchant account would be crazy. This is just between friends.
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From: Barcelona
Well, FWIW, the USD has simply bottomed out versus the Euro lately, (€1.00 = US$1.18). That must have something to do with the added cost of currency exchange. <img border="0" title="" alt="[Frown]" src="frown.gif" />
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Burning Brakes
Joined: Jul 2001
Posts: 1,210
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From: Ams, NL
Ice
Normal buisiness way of doing is that the bank cost is split: each would absorb what is charged in their home country.
Since this is one time only event between friends, I would suggest you simply ask Olli what he would require, taking the (selling) exchange rate into account and round that off to an value that can be made in paper money (Banks dont accept coins for exchange).
Then send over in cash via registrated mail (in an very rigid envelope).
Takes a few days and it will arrive on his door mat.
TakeCare
Normal buisiness way of doing is that the bank cost is split: each would absorb what is charged in their home country.
Since this is one time only event between friends, I would suggest you simply ask Olli what he would require, taking the (selling) exchange rate into account and round that off to an value that can be made in paper money (Banks dont accept coins for exchange).
Then send over in cash via registrated mail (in an very rigid envelope).
Takes a few days and it will arrive on his door mat.
TakeCare
Burning Brakes
Joined: Jul 2001
Posts: 1,210
Likes: 0
From: Ams, NL
</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by sweanders:
<strong>Can't you just transfer money from your bank account to Ollis?</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Most probably yes.
The cost however will be a fixed price, way out of proportion at these relative low amounts.
TakeCare
<strong>Can't you just transfer money from your bank account to Ollis?</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Most probably yes.
The cost however will be a fixed price, way out of proportion at these relative low amounts.
TakeCare
Thread Starter
Nordschleife Master
Joined: Jun 2001
Posts: 5,159
Likes: 2
From: Minneapolis, USA
Yup, Hans is correct. Most banks have a minimum fixed fee they charge. So you are screwed on smaller transactions. I can wire right into Olli's account but it will cost $25. Guess that isn't too bad as I look at the options.
I have a fellow in Wales that is getting one of my adjustable voltage regulators. Twenty something USD including the shipping. His bank wanted $30 to make out a USD check! So his cost would more than double. Fortunately, he has a friend that has a USD checking account and we have things back to reason.
Hans, I hadn't considered actual currency. Guess I should look into that rather than a wire transfer.
Banks are just fee crazy.
I have a fellow in Wales that is getting one of my adjustable voltage regulators. Twenty something USD including the shipping. His bank wanted $30 to make out a USD check! So his cost would more than double. Fortunately, he has a friend that has a USD checking account and we have things back to reason.
Hans, I hadn't considered actual currency. Guess I should look into that rather than a wire transfer.
Banks are just fee crazy.
Rennlist Member
Joined: Jun 2001
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From: Barcelona
</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by Olli Snellman:
<strong>Anders i suppose that will work only in Nordic countries....</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Or within European countries. I can transfer money into accounts around Spain for €1.00. Kind of like a Money Order in the U.S.
<strong>Anders i suppose that will work only in Nordic countries....</strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">Or within European countries. I can transfer money into accounts around Spain for €1.00. Kind of like a Money Order in the U.S.