FlyerTalk Forums - View Single Post - Possible to convert Euro to USD without forex fee?
Thread: Possible to convert Euro to USD without forex fee?
View Single Post
Old Aug 21, 2009 | 8:22 am
  #3  
gbryan84
10 Countries Visited
20 Countries Visited
30 Countries Visited
15 Years on Site
 
Join Date: Feb 2007
Location: NJ/NYC
Programs: UA and HH
Posts: 4,349
Originally Posted by cmhsieh54
Hi all,

I'm moving from USA to Netherlands soon, and will be employed by a university there. I will be paid in Euro.

Does anybody know a way to convert Euro cash to USD cash without a forex fee? Do any (European) banks do this? Or is there a loophole somewhere?*

Thanks in advance,
-cmhsieh54


* For example, one can often sidestep forex fees (both purchase, and ATM) with USA-based debit cards.
The dollar is expected to weaken against the Euro. You may be better off holding Euro's and cashing out when you move back at a favorable exchange rate.

You may also be able to set up a brokerage account and have the broker do the exchange. We deal with JPM for our Euro clients and they charge ~1-2 basis points for a conversion. I am not sure if there are minimums for doing this as we usually deal in 100k+ transactions.
gbryan84 is offline  
Reply