Foreign Exchange

[rochs]

Hi

I would like some information from anyone in relation to Foreign Exchange.
I was at the bank yesterday to get a large Dollar cheque cashed and lodged to two different accounts.
The assistant i was dealing with rang someone else to get the value in euros. when i accepted the rate he then left the office to lodge it at the counter however when he returned he said the rate had changed and it was now €80 less.
I was thinking of this afterwards and i now feel that he used the opportunity to charge commission which he said he would not charge.he did not give me the usual slip you get from a bank when when you use foreign exchange.
Do rates change that quickly. am i being paranoid.

regards to all
Rochsa

 

[CCOVICH]

Spot rates could vary wildly over the course of a day, but the rate he quoted you should be the rate you got. If the rate did change, you would have needed to be changing a lot of money to lose €80. Have you worked out the rate you got vs. the rate you were originally told? Could you post them here?

At this stage it's probably too late to do much about it given that you walked away and didn't ask for a receipt. It certainly sounds shady to me. No harm in going back and asking to see a manager and if you get no satisfaction that way, make a complaint to IFSRA. But this is a little after the fact.

 

[rochs]

ccovich thank you for coming back to me i appreciate your reply.

Regards

Rochs

 

[saram]

Anybody know where is the best place to exchange currencies...specifically from US dollars to euros..??? Id like to hear what is currently the best exchange rate in Ireland..

Im weighing up changing money into Euros in Korea, keeping it in my dollar account here..transferring it home or just taking a load of cash back to Ireland..?? I was told the commission rate for transferring my money would be about 20 euros..Dollar account to Dollar account may be the best way..??

Anybody know of private brokers where I can get the best deal for my US dollars.. I may set up a US dollar account in Ireland too perhaps.. I want to compare current exchange rates in Korea and Ireland.. I have the Korean exchange rates (which may be higher due to a lack of euros here) so now I want to find out where can i get the best rates for converting US dollars to Euros..

The best rate I can find here is
1400won for 1 euro
947won for dollar

Cheers..

 

[ClubMan]

Anybody know where is the best place to exchange currencies...specifically from US dollars to euros..??? Id like to hear what is currently the best exchange rate in Ireland..

This question is asked dozens of times and the answer is always the same - you need to shop around to get the best rate and the lowest charges.

Anybody know of private brokers where I can get the best deal for my US dollars..

Would www.xetrade.com be of any use?