posted on November 29, 2002 09:53:32 AM new
Hello. We received payment today from a overseas customer. He paid us in two 5 euro money. Has anyone dealt with this kind of foreign money? We need to transfer this into US currency. Any advice?
Thanks everyone for any advice you may offer.
posted on November 29, 2002 10:03:49 AM new
Just contact your bidder and explain that they have to send you payment in U.S. dollars.
Just send their payment back.
Unless your auction states that you are willing to accept euros, then its greenbacks only.
Banks charge too much to convert. Have them pay you via bidpay, or payingfast. Those are U.S. money orders.
posted on November 29, 2002 10:21:34 AM new
Stick it in your wallet, and the next time you're in an airport, go to the foreign exchange counter(usually Thomas Cook or American Express). All large airports and International airports will have these money exchange booths. You'll get back $9.45 for the 10 Euros, as of today. The whole transaction will take 30 seconds. Send the bidder an e-mail thanking them for sending payment..
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If you happen to never see yourself being in an airport then send the Euros to someone you know here in the States. Have them make the exchange and Paypal you back the money. You'll figure something out. Whatever you do, don't send the Euros back to your customer.
posted on November 29, 2002 10:54:42 AM new
there are thomas cook offices in major city,search their site and find one near you,dont be surprised the exchange rate is less than you antiticipated.
fight back,buy from an european seller and send this money back to europe.
posted on November 29, 2002 01:49:50 PM new
Thomas Cook is a ripoff, you'll be paying a fee in addition to the exchange rate. I personally would take that for a small transaction, but then again I do buy things overseas, so I could always use it in a transaction going the other way (I would also take cash from Canada at the proper exchange rate as well since I visit Canada on a regular basis) - If you never visit or do business abroad, then I would send it back, because you will pay too much in fees to make the transaction profitable.
posted on November 29, 2002 02:13:42 PM new
They are not a ripoff, they are a convenience made for small amounts like this. For big sums, use a bank. There is no added fee with Cook. Currently if you have 10 Euros you get back $9.45 period. If you want to buy 10 Euros it would cost you $10.45. They make there money in that spread between $9.45-10.45. Banks work on a much smaller spread, like 9.95-10.05,(plus a fee of about $20) and this would make sense if we were talking about hundreds of dollars, but we're not. We're only talking about $10. Does it really make sense to spend .60-1.10 to send it back, and then hope that the buyer will go along with this craziness and will spend more postage and send another $10. A total of $3 postage and a few e-mails, which will take time. Geez...all this over $10...just stick it in your wallet, send the buyer the goods, and forget it. When you have your adventure in the airport you can report back to the board.
[ edited by pointy on Nov 29, 2002 02:20 PM ]
posted on November 29, 2002 04:16:20 PM new
A lot of banks will exchange it at no or a very small fee. Your handle suggests that you are a fan of the Blue Rocks minor league team. If so, I can tell you the local bank here in DE is Wilmington Trust on the Market St. Mall. If I have your handle wrong, I apologize.
