questions → whats best online currency exchange?

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Whats best online currency exchange?

Any suggestions for currency exchange sites? I'd like to buy a some Indian Rupees and yeah where do you suggest?

by dravack
asked 5 months ago

7 Answers answer

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I've used http://www.xe.com/ for conversions, I imagine they exchange currency as well. Any reason your local bank won't do it? Usually they will but need some notice.

dutchpants
5 months ago

vote-for3vote-against

Yeah they will do it but will take like a week or more. They have to send it off. If I'm waiting I'd rather either do it online or just drive an hour to the "local" international airport and do an exchange there in person. Plus I'd like to get it at the current exchange rate and as its 6:30 banks are kinda closed >.> lol

dravack
5 months ago

vote-for3vote-against

The three banks that I know of offer this service, but not at all brances. If the city you are in is not large, there may not be a place to do this. You would be just as well off to visit an ATM once you arrive in India, since it is very likely that the bank processing your transaction will give you a better rate than JPMorgan Chase|Bank of America|CitiBank. I know nothing about Wells Fargo for this particular service.

I'd be a bit nervous to trust a web site, especially to trust them to be any more timely than your bank (and oh, so much less trustworthy). If you're in the Seattle area, I believe Deutsche Bank has a presence there [here's the address and phone number: 1904 3rd Avenue Seattle, WA 98101-1126 (206) 624-9901].

shrdlu
5 months ago

vote-for3vote-against

@shrdlu: Nah sadly not in Seattle currently. Kinda wanted to come visit but no plans as of yet. As for being in India didn't plan on going anytime this year either lol. The rupee just hit rock bottom and thought I'd buy some now for when I do go over there.

Would buy some yen but sadly it's crazy strong right now. When I last went to Japan back in I think summer 08. It was like 1 dollar is 130 or so yen. Now it's like 80 yen. sigh

Either way not the point. Just curious if anyone knew any good sites. Worst come the worst I way like a week or more for the bank to send off and do stuff or go to the air port.

dravack
5 months ago

vote-for3vote-against

@dravack: Ohhhhhhh....

You are talking about buying and selling currency for the purposes of speculation (not a bad word in this case, no matter the normal connotation).

This is different than what you'd asked, originally. You need access to Forex or similar. Here's a fun link for now.

http://www.multiforex.com/Forex-Speculation.html

You can get a feel for this on the Forex site.

http://www.forex.com/index.html

This is the canonical site for trading in foreign currencies. You don't really want rupees in your hands; you just want a position where you hold some number of rupees that you can sell down the road, when you think the value will yield you are profit.

I advise against your doing this, but you can certainly play in the space for free (with $50,000 in play money) while you get a feel for this. {Beware, there be monsters in these waters.}

shrdlu
5 months ago

vote-for3vote-against

@shrdlu: Well more just buying. Don't plan on selling it. Just plan on using it at a later date. >.> Like getting $200 now and using it next year or so. I know $200 isn't a lot when traveling abroad but meh. I figured why not get a little bit now. So yes I do want them in my hands. lol

dravack
5 months ago

vote-for2vote-against

I've used Wells Fargo foreign exchange in the past to get Euros in hand before I went on a trip. I don't know if this would make sense for you with paying the service fees and delivery charge for such a small amount.

https://www.wellsfargo.com/foreignexchange/products

90mcg112
5 months ago

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