posted on February 21, 2002 11:27:19 AM new
Hello all! I need some advice!
I have a buyer who would like to pay for her auction win with a personal cheque from Canada. I can accept the check with no fees from my bank. My bank tells me that the check will be cashed at what ever the exchange rate is at the moment I present it. Here is my question:
Do rates flux that much between currencies that I may lose some cash here? We are only talking about $10 canadian. I'm not worried about a few cents.......
posted on February 21, 2002 11:51:02 AM new
Hello
I have done your trick in the past with out a problem. However US cash seems to be available all over the world and she can get it at her Back. Banks seem to float their charges. Expect her to do this again. A lot of work for $10.00.
posted on February 21, 2002 12:20:11 PM new
I appreciate the fast replies!
I went ahead and requested buyer to send a money order in U.S. funds or send Pay Pay. I explained the exchange rates change daily and that is why we request U.S. funds....
posted on February 21, 2002 12:24:26 PM new
tell her to go to canadian post office and buy you a us dollar postal order,
you can cash it at your post office with id.
no charge,no exchange rate fluctuation.
your bank may say whatever rate when you present the check ,i say baloney!!
there are 2 rates,one for buying from you and one for selling to you and both rates vary according to how much you are buying and selling.
some canadian bank checks do not clear thru us bank clearing system,those who do have a certain code on the bottom of the check,it has been so long i dont remember,may be someone can tell.
best is that canadian postal order,
