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Q: International Monetary exchange by wire ( No Answer,   2 Comments )
Question  
Subject: International Monetary exchange by wire
Category: Business and Money > Finance
Asked by: golfer1950-ga
List Price: $2.00
Posted: 02 Jul 2004 01:48 PDT
Expires: 01 Aug 2004 01:48 PDT
Question ID: 368844
I want to transfer $100,000 into British pounds and wire it from my US
acct. to my UK acct. Where can I get the best exchange rate?
Answer  
There is no answer at this time.

Comments  
Subject: Re: International Monetary exchange by wire
From: corwin02-ga on 02 Jul 2004 09:36 PDT
 
Usually the bigger trade banks will offer the best exchange rates
however in a few select cases using a money order may be more
profitable however due to the higher administrative fees that is long
shot ,

The best was to go is open a foreign currency account with your bank
in the UK wire the money in dollars and wait for the exchange rate to
go up to cover your fees , then sell the dollars for brittish pounds
Subject: Re: International Monetary exchange by wire
From: dgregor-ga on 02 Jul 2004 12:49 PDT
 
Hi!

I am suggesting that you send US$ 100,000 in US$ :) If you ask WHY?!

You will have the full US$ 100,000 in UK and the receiver should have
loss of money with the conversion ;)

The money will get "untouched" with wire transfer, but you must pay fees of course.

I am suggesting that you do your exchange the money in UK, as the
transfer will be successful. Please say to the accountant that the
money MUST get in the same currency and amount to the UK.

Please note, if you are paying something with your credit card abroad,
please use your credit card and do not hasle with extra exchanging,
because your payment will go with NO FEES and based on NATIONAL
EXCHANGE RATES of your country, where the credit card was issued.

I hope this helps.

Cheers,

DG

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