O.K. everybody! With the peg appearing to be SO CLOSE, I thought that it would be beneficial to know EXACTLY what to do if you wish to exchange some immediately!
Like specific steps....
1. Call the banks in your area and see if they are exchanging and at what rate. From what I gather some banks charge a higher fee to do a foreign currency exchange...and some banks won't charge the fee if you have an account with them. It would be good to 'shop around' for the best deal over the phone rather than running around town from bank-to-bank!
I have a question about the "less than $10k" rule. If you go to a bank and exchange $9500.00 worth...should you DEPOSIT IT into an account at THAT BANK, OR should you get a cashiers check/bank draft/cash and LEAVE that bank and take it to a different bank to deposit. I was wondering about the 'paper trail' depositing it into the bank that you do the exchange at.
I just thought it would be nice to have a 'spot' just about exchanging and the "DO'S and DON'TS" because I'm probably going to need a print out of what I need to do when these babies peg because my head will probably POP right off my shoulders from the excitement!
Thanks guys...for everything!
Tiff
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11-06-2006, 01:52 AM #1
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Let's Have An Exchange "Fire Drill" !
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