I am an American living in Portugal and working for the last few months and would like to have my Euros converted into USD when I leave here in a few weeks. If I have my money directly deposited into my American bank account will my bank charge a conversion fee or will the exact amount deposited into my account show up? I'm with US Bank but if there is anyone who HAS done this or KNOWS someone who HAS I would like to hear how they did it. Or if you have another good way of converting Euros to USD I would like to hear that too. I'm just trying to avoid high cost conversion fees by all means. Thanks...
Other - Business & Finance - 1 Answers
Random Answers, Critics, Comments, Opinions :
1 :
In the money market the exchange rate of currency is constantly changing due to the market forces of supply and demand. If you deposit Euros into your account at say mid day, the bank would convert the Euros to USD at the exchange rate applicable at that time. The actual amount of USD that will go into your account will be that amount of USD less the percentage charged by the bank for its service exhanging the currency. It pays to shop around. You may find that a Money Exchanger may give you more USD for your Euros and then when you deposit these into your account at the bank there is no further charge. If you are earning a salary, why not ask your employer to pay you in USD and deposit this directly into your bank account each month. That way the agreed amount of USD salary should appear in your account without any deductions.
