Does Chase Bank exchange foreign currency? If so, are their rates competetive?
Disclaimer - I work for JPM Chase, but not in retail banking.Recently I was looking to exchange $200 or so USD into a foreign currency. The idea is to have some cash for tipping and incidentals while I’m there on vacation. I intend to use one of my no-foreign-transaction-fee credit cards whenever I can.Side bar: In my experience, using credit card is one of the more economical and safe way to pay while outside of the US, especially if you have one of the premium cards such as Platinum Amex or Visa Infinite. Their customer services can and did make hiccups disappeared with a phone call. You’d also usually get points or miles from using it.Back to Forex: I called up Chase, Bank of America and Wells Fargo branches near my house. All are quoting pretty much identical rates, about 15% cheaper than the mall kiosk by Travelex and no fee (Travelex kiosks at the mall and in airport charge fee on top of less favorable rates compared to banks). The catch is that they will deduct USD from your account, so you need to have account with that bank. Also they have to order the money (unless it’s one of the few very popular currencies - I think Euro and Canadian $) and it takes up to 3 business days to arrive, so no same-day transaction. You can also have them deliver it, with the mailing fee around $10 which is waived if the transaction is greater than $1,000 (same for all 3 banks).Rate Reference: On the day I checked, Mexican Pesos spot (trading) rate was MXN18.4 per USD, all 3 banks quoted walk-in rate around MXN17.4 per USD while Travelex site quoted around MXN16.5 per USD with note that the in-person kiosk rate will be “slightly higher”).So, if you don’t mind going to the branch twice, this is likely the cheaper and safe way to get your foreign currency (I’ve heard of forex places such as in Chinatown or Spanish groceries, but don’t intend to walk into some unfamiliar place with people knowing that you are carrying sizable amount of cash on you).
What was the currency in England in 1870?
They used pounds, shillings and pence, i.e. pre-decimal pounds. Before 1971, a pound was divided into 12 shillings, each of which was divided into 20 pence (i.e. there were 240 pence to the pound). This is different from nowadays when there are 100 pence to the pound. So to convert pre-1971 pence (old pence) into modern pence (new pence), but without adjusting for inflation, you just need to divide the amount in pence by 2.4. http://en.wikipedia.org/wiki/Pound_sterl... http://gwydir.demon.co.uk/jo/units/money... To adjust for inflation, you can work out the present equivalent amount of British currency using the following calculator. http://www.measuringworth.com/ppoweruk/ As you can see from this calculator, one pound in 1870 is worth 74.60 pounds today, adjusted for inflation. However, it is worth 505 pounds today if you want to take into account how much earnings have also increased since 1870. Of course people are much richer nowadays, so what may have seemed expensive back then wouldn't seem so expensive now, even when adjusted for inflation. Once you have converted into today's money, converting into Canadian dollars can be done simply with an exchange rate calculator such as this one: http://www.unitconversion.org/currency/british-pounds-to-canadian-dollars-conversion.html At today's exchange rates 74.60 pounds is worth 118.51 Canadian dollars, or 119.43 US dollars. Here are some useful resources about how much things cost in the 19th Century. Note that in those days there wasn't much inflation, so prices in 1825 were quite similar to 1870 or 1900. http://www.census-helper.co.uk/victorian-life/ http://bonsonhistory.co.uk/html/george__b_1834.html http://www.janeausten.co.uk/the-cost-of-living-in-jane-austens-england/ http://www.glendiscovery.com/sutherland-wages-prices.htm
How do I get the best exchange rate for U.S. Dollars when traveling in another country?
It worth pointing out that cash is not as safe as using a card. However, you will avoid ATM/ bank charges (Usually 3% + 3% = 6% and sometimes a flat rate on top), from the local bank and your own bank usually with a poor exchange rate. Don’t change cash at airports, banks or hotels. Most places have a bureau de change - often small booths in the high street. I and friends have used these for many years in many different countries. Cash, apart from the risk factor, is the best option for changing money in most, not all, countries. However, always have 2 cards on your travels, but not kept in the same place. Having said all of that, you should research the area you are going to as cash is not always the best option!
Where in Chennai can I get best exchange rate for purchasing dollars?
Namaste Chennai!Availing best exchange rate for purchasing dollars isn’t sufficient to get the best deal. To get the best foreign exchange deal in Chennai, you would have get best exchange rate as well as best transaction service. The deciding factors to avail best exchange deal are discussed below.Identify the right Forex productSelecting the right Forex product for your need is the single most important factor. Of the several means, Forex or travel card, currency notes and wire transfer or telegraphic transfer are the popular ones.Even though currency notes have lowest competitive exchange rate, their universally acceptance make it a must for a trip abroad.Wire transfer is a preferred way when you have physical movement limitation and already have the beneficiary account details. This is a robust and secure mechanism is widely used by the banks across the world.Forex card offers the most competitive exchange rate when compared to that of currency notes and wire transfer but it does attract additional charges for ATM withdrawals.Identify the best Forex service providerHaving decided your Forex product, ensure the best exchange rate for purchasing dollars by approaching a marketplace of money changers, and banks rather than a stand alone financial institution.Further, before deciding the Forex service provider, consider the flexibility of payment options, transfer charges, transaction time and convenience to fix the exchange rate while completing the funds transfer and documents verification.ConclusionFor your convenience, we wrote an article comparing two of India’s largest banks and two popular global companies to determine India’s best exchange rate provider - Pax Credit offering popular Forex products.Additionally, Pax Credit offers exchange rate match guarantee assuring you the best exchange rate for dollars on any given day in Chennai.Do give Pax Credit a try next time to purchase dollars in Chennai and share your experience with us!Cheers :)
What is the equivalent to 10,000 pounds in US currency?
I was just asked if I had 10,000 pounds, what would I purchase? I think the person is trying to test my knowledge. Well, he's got me because I don't know what it is worth in US currency. Help! Thanks!
Which is the best Foreign currency exchange in Mumbai?
There are many money changers and banks who offer different exchange rates in Mumbai. To find the best among them is pretty easy.Simply visit Currency Exchange in Mumbai- ExTravelMoney. ExTravelMoney is an online aggregator of banks and RBI authorized money changers in India. Choose the type of forex transaction ( Buy currency/ Sell Currency/ Money Transfer Abroad), enter the currency you need and the amount (say 1000 USD)2. Enter your location (Mumbai) and you can find the best deal for your forex requirement in Mumbai.3. Enter your phone number to get information on all 35 forex stores in Mumbai and their exchange rates. You’ll aslo get info on whether the forex store provides door delivery, their store timings and the payment methods.You can then book the order online itself. Our customer support agents will then guide you complete the transaction. You can submit the required KYC documents and make the payment directly to the exchange house.With the information you have on the forex stores near you and their exchange rates, you could save a lot of money.Hope this helps
How do you exchange Pesos for US Dollars?
Well there are more than one kind of peso, there are Mexican pesos, Philippine pesos and maybe other kinds of pesos but typically you simply go to what is know as a currency exchange service typically they can be found at airport on both sides of a border of countries that use the Peso for their currency . You can also go to receive currency exchange services at some banks and yet there are also what are know as independent retail currency exchange service. These services usually provide you with the kind of currencies they will exchange and sometime will exchange a currency for you upon special order.
How much is 1,000,000 pounds in US dollars? ?
For daily up to date currency conversions go to : www.xe.com The conversion at the present moment is US $1, 417,102.99 It is a very straight forward website - I have been using it for years ;)