INTL Exchange

I am trying to buy flowers in Australia to deliver to a friend, and I am using a local florist that has an online ordering system. The only problem is is that all the prices are in Australian dollars and I was wondering how it is going to work when I try to use my credit card number to buy the flowers?

I just called my bank and they said there will be a 3% currency exchange charge and there is no minimum charge so so I can buy something for 5dollars and it will just be 5.15 or 500 and it will be 515 as far as I can tell, does that sound reasonable and correct to everyone? i was worried that you had to exchange a minimum amount of dollars like 200 or something and if you bought something less than that it would still exchange the full 200 or something
i’m not worried about any percent fees but any big flat fees or minimums on exchanges would really suck

You would pay the 3% plus probably come out on the short end on the rate of exchange. Not so bad.

The cheapest way, I think, is if you pay with PayPal against your checking account — then you just have the exchange rate ‘loss’ to pay for. If they don’t accept PayPal, or you don’t have an account, just use the credit card. It’s no big deal really.

I always assumed that you needed to use an online dealer/broker if you wanted to make money through Forex (foreign exchange market).

But then I came across this webpage:

http://www.ehow.com/how_4928810_money-foreign-exchange.html

That basically says to exchange currency at a bank yourself, in person. I just want to know why this wouldn’t work. Obviously you wouldn’t have the benefit of leverage, but this would also minimize the risk.

For one thing, there’s no dealer to automatically cancel your existing trade in case you start to lose more money than you can fund, so you could wait for the currency to rise in value again before trading.

Also, you wouldn’t have to lose out on the spread that the dealer makes a profit from.

But what about the fees that banks charge for currency exchange? And is a bank going to be the most economically-efficient place that you could go in order to exchange currency?

Could you actually start to make significant profits through forex by exchanging money yourself through a bank or somewhere else where you could exchange one country’s currency for another’s … instead of going through an online broker?

It can be done, but…. You couldn’t "trade" with any degree of frequency because the spread is beyond awful, maybe as wide as 200 pips fir EUR-USD.
Some banks outside of US allow you to keep money in a currency of your choice and you can switch it every so often. This is, for all practical purposes, longer term trading.
As far as leverage goes, you don’t have to use it with your forex broker and still do good. Read this.

So i just got back France with my girlfriend and i noticed I still have several hundred Euros in my wallet that I forgot about. I live in Oklahoma.. So i highly doubt there’s an exchange office anywhere around here, but what i’m wondering is if there’s an online site that excepts exchanges through the mail?

So far my google searches havn’t found too much

Ask your bank or one of the banks in the area

I want to buy something from a US store online. Does the credit card company use the current exchange rate or do they have their own rate?

They use the current exchange rate on the date that your transaction is posted. Most credit cards also charge an additional 3% service fee on foreign exchange transactions.

Philippine coins and things like that? Prefer none of the online sites. Any help is appreciated.

either at your bank, or there used to be a money exchange center in horton plaza, not sure if it’s still there?

I have no bank account-does ebay wire $. It is a precious metal in currency form, bank?

Banks in the US won’t exchange them because it is not circulating money from Canada.

If you’re in Canada they would exchange but only for $50.

Like others said a jeweler is the fastest, they’ll weight and test it and give you 90% of it’s value about $530.

Today I went to a currency exchange agency Travelex and I wanted to sell my Canadian dollars for American. I saw online that the live exchange rate was .903, meaning 1 Canadian = .903 American. So, I had 690 Canadian in my pocket and only got back 569. They told me there was no fee charged because it was over $500. They told me since they were buying my Canadian dollars, the rate was different. That didn’t make any sense to me. I guess these places make up their own rates.

So where can I go to exchange currency for it’s current REAL rate?

0.903 is "wholesale" price from forex market, where people trade standardized batches of fixed size (e.g. a million US$), and do it through a specialized computer system which has high subscription fees. In addition, trading on that exchange probably requires putting up substantial deposit.

Since you are only trading $500, and do not have access to the system, you have to pay "retail" price which is obviously less favorable.

Is it legal to allow website members to earn virtual currency online, pay each other in exchange for other services or even USD ?

Probably not, however if they are gambling with that virtual currency, it might not be legal.

i have a 5,000 peso coin and i was wondering where i could go to get it exchanged into us dollars. i have checked it online and supposedly i would get 355 bucks which is money i could really use the only problem is i dont know where to go. some one told me i can take it to a post office and they can do it but will i get ripped off of most my money? by the way i live in cedar hill, tx.

try this website its useful

http://gold-price-blog.info/

I’m going to England in about 3 1/2 months and will spend probably $2000 to $3000. What is the best method for exchanging dollars to pounds? Use my credit card as normal? Use and investment firm? Online exchange? Local exchange?

it depends on what you’re trying to do. ATMs in Britian will give you the best exchange rate for the day when you use them. Alternatively you could get a cashiers check from your bank and deposit it all in an english bank account. Also, most post offices in Britian will change your money and do not charge an exchange fee.