posted on April 8, 2002 11:29:00 AM new
I am looking for the cheapest alternative for purhasing either a wire transfer, foreign draft or money order in Euros (converted from US dollars). My bank charges me $25.00 for a wire transfer and $20.00 for a foreign draft in Euro dollars to western Europe. Are there any good online payment services that do foreign currency exchange (US to Euro) that beat those fees?
posted on April 8, 2002 12:43:03 PM new
Why don't you check out http://www.bidpay.com and see what they say? I have never used them as a buyer for international purchases, but I do get a lot of them as payments for my auctions.
posted on April 8, 2002 01:20:27 PM new
20-25 is a very good price your bank is charging you,it may be a little cheaper with amex or thomas cook,the travel agency folks.note the seller may have to pay for incoming wire fee
posted on April 8, 2002 09:08:18 PM new
usps only sells us dollars money order.
american express a few years ago charged 10 dollars,dont know how much now.what they basically do is to purchase the draft/currency from a bank in nyc and then send it back to your local amex office the next day,so you are looking at making 2 trips.
dont forget the exchange rate varies too.
the best of course is that your seller can accept credit card charges,you get the best rate.
your local bank fee is not bad.
posted on April 9, 2002 12:34:44 AM new
A postal money order is the best way to do it. Even if you get a "cheap" bank draft your seller might have to pay at least the same amount to get it cashed.
Very much like in the US banks in Europe have different rates.
I live in Europe and never had any problems with postal MOs.
posted on April 9, 2002 05:14:16 AM new
zugspitz,
you live in europe,so your post office sells euro dollar mo,but in usa,our post office sells us dollar mo.
if billpoint will do the transaction,it will be converted to euro at the best rate-whatever the rate is on that transaction date
posted on April 9, 2002 01:21:00 PM new
I think you can get a USPS International MO in any currency. Reason I say that is I needed to send one to Canada and my local PO grabbed a book to do a "conversion" to Canadian $$ when I told them the amount to be paid was in US $$ as requested by the seller. My clerk breathed a sigh of relief.
I would suggest asking your local PO clerk if they can do conversions to other currencies.
posted on April 9, 2002 02:33:07 PM new
if she buys a foreign currency draft from the bank,it will be drawn on that country's bank,so seller should have no problem depositing it,thats what the fee is for.
if she does wiretransfer ,seller bank may charge a fee like ours do,say 5-15 dollars.
i doubt our post office handles every major currency in the world,this is the first time i hear they look into canadian currency.
i know down here many mexicans buy usps postal order to sent home,max is 700 dollars,thats us dollars,amigos.
