| View previous topic :: View next topic |
| Author |
Message |
Woden
Joined: 08 Mar 2007
Location: Eurasia
|
 Posted: Thu Sep 13, 2007 3:25 am Post subject: Best exchange rates...? |
 |
|
Where is the best place to get a decent exchange rate in Korea? Is there anywhere that gives commission-free exchange?
I want to change Won to J Yen. |
|
| Back to top |
|
 |
Woden
Joined: 08 Mar 2007
Location: Eurasia
|
| Posted: Thu Sep 13, 2007 5:42 pm Post subject: |
|
|
| Nothing? |
|
| Back to top |
|
|
huffdaddy
Joined: 25 Nov 2005
|
| Posted: Fri Sep 14, 2007 3:17 am Post subject: Re: Best exchange rates...? |
|
|
| Woden wrote: |
Where is the best place to get a decent exchange rate in Korea? Is there anywhere that gives commission-free exchange?
I want to change Won to J Yen. |
How much are you changing?
What do you mean by commission free? |
|
| Back to top |
|
|
jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
|
| Posted: Fri Sep 14, 2007 3:57 am Post subject: |
|
|
| Not in Korea. Singapore does commission free. |
|
| Back to top |
|
|
MarionG
Joined: 14 Sep 2006
|
| Posted: Fri Sep 14, 2007 4:34 am Post subject: |
|
|
| There is virtually no reason why a bank or other exchange would stock currencies, and subject themselves to the fluctuations in value and potential losses, and then trade one currency for another without a spread. The "spread" is the difference between the rate at which they buy the currency and the rate at which they sell the currencies. You might call it a commission I suppose. |
|
| Back to top |
|
|
Woden
Joined: 08 Mar 2007
Location: Eurasia
|
| Posted: Fri Sep 14, 2007 2:17 pm Post subject: |
|
|
| MarionG wrote: |
| There is virtually no reason why a bank or other exchange would stock currencies, and subject themselves to the fluctuations in value and potential losses, and then trade one currency for another without a spread. The "spread" is the difference between the rate at which they buy the currency and the rate at which they sell the currencies. You might call it a commission I suppose. |
In the UK you can get your money exchanged commission free, this means the entreprise you change your money with don't charge you commission on the exchange. This doesn't mean it is necessarily mean it is the best rate, but usually it is, also.
You get the money at the exchange rate that is advertised rather than hidden additional charges effectively taking more of your money away. They of course take a spread on the exchange, but they don't charge commission...
...I have not changed money in Korea and was wondering what the situation was when changing money. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
