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How to maximize your exchange rate.

July 1, 2010

More people today get foreign checks than ever before. They go to their financial institution and exchange their checks for local currency. They don’t maximize the exchange in their favor because rates fluctuate every day, different currencies fluctuate at different rates, and most people do not know how to “fish” the best return, on the best day, for their local currency. Here is how to exchange checks on a day that the exchange rate is the best for you:

Open a checking account in a financial institution with a provision to deposit and save your foreign checks intact. Go to your computer at home and create a table for currency exchange rate. Check out the value of your foreign check every day. Cash in your accumulate foreign checks on a day the exchange rate is best for you. If you accumulate more than $5000 in foreign checks ask your bank to give you a better rate than posted for that day. Some banks require $10,000 exchanged in order for you to get a higher rate. Don’t be shy, ask! You save a bundle!

2 Comments leave one →
  1. Jon Kinarthy permalink
    July 3, 2010 12:12 am

    That is very interesting, thank you for sharing that.

    • July 3, 2010 3:43 am

      Thank you for acknowledging the value of this banking approach to the consumer!

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