Converting Foreign Currency into US $
Mar 5, 2010 | 8:53 am
#1
Original Poster
Join Date: Mar 2010
Posts: 12
Converting Foreign Currency into US $
Hey everyone,
Been lurking around these forums a bit from time to time and you all seem like a knowledgeable and helpful bunch. I appreciate the tidbits of info I picked up time to time!
Anyways, the reason I'm posting is that I am wondering what are the best places to convert foreign currency into US dollars? My search ends up with suggestions to convert US dollars into foreign currency but never the other way around. The local bank I check charge a 5% rate so I tend to lose a lot of money over there. If anyone has any ideas or suggestions to convert foreign currency, I would have your babies!
Thanks so much,
Stevenbob
Been lurking around these forums a bit from time to time and you all seem like a knowledgeable and helpful bunch. I appreciate the tidbits of info I picked up time to time!
Anyways, the reason I'm posting is that I am wondering what are the best places to convert foreign currency into US dollars? My search ends up with suggestions to convert US dollars into foreign currency but never the other way around. The local bank I check charge a 5% rate so I tend to lose a lot of money over there. If anyone has any ideas or suggestions to convert foreign currency, I would have your babies!
Thanks so much,
Stevenbob
Mar 5, 2010 | 9:24 am
#3
Original Poster
Join Date: Mar 2010
Posts: 12
Sorry for the lack of clarification. Yes, I am in the US. More specifically, New York. I have several currencies built up but mostly concerned with Japanese Yen and Chinese Yuan.
It's a pretty large sum, just from doing side jobs while I was over there so if it was only a few hundred, I normally wouldn't be too concerned about it. But for example, Bank of America has about 94 yen to dollar rate while the rate listed on xe.com is 89 yen to the dollar.
Thanks for the quick reply!
It's a pretty large sum, just from doing side jobs while I was over there so if it was only a few hundred, I normally wouldn't be too concerned about it. But for example, Bank of America has about 94 yen to dollar rate while the rate listed on xe.com is 89 yen to the dollar.
Thanks for the quick reply!
Mar 5, 2010 | 11:59 am
#4
FlyerTalk Evangelist
Join Date: Dec 2000
Location: south of WAS DC
Posts: 10,131
call these guys:
http://www.comfex.com/
they are legit. i presume by you have over 10K usd of either.
get away from BAC and find a bank. bac is a moneymaking machine, and they are using your money for the profit. i am surprized that they are only hitting you 6%.
go to google and search for chinese banks in nyc and japanese banks in nyc.
call them and ask what they can do.
for some reason, i presume this money is in cash, not in accounts. if it is in accounts and in country, look to transfer it from that site to you in usd.
http://www.comfex.com/
they are legit. i presume by you have over 10K usd of either.
get away from BAC and find a bank. bac is a moneymaking machine, and they are using your money for the profit. i am surprized that they are only hitting you 6%.
go to google and search for chinese banks in nyc and japanese banks in nyc.
call them and ask what they can do.
for some reason, i presume this money is in cash, not in accounts. if it is in accounts and in country, look to transfer it from that site to you in usd.
Mar 5, 2010 | 2:25 pm
#5
FlyerTalk Evangelist
Join Date: Nov 2009
Location: Earth. Residency:HKG formerly:YYZ
Programs: CX, DL, Nexus/GE, APEC
Posts: 11,078
Best rate are at ethnic money changer within their neighbourhoods in the large cities.
There might be legal issues with exchanging the PRC Yuan which is a controlled currency.
There might be legal issues with exchanging the PRC Yuan which is a controlled currency.