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Old 11-02-2013, 17:30   #1
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Dollars to Euros

Hi All:

I need to make three payments to the company in Italy that is repowering my boat. Being in Italy they want their money in Euros. (oh you mean the US dollar isn't the be all and end all ) I bank with a Credit Union and a small Community Bank neither of which has foreign exchange capacity.

I am going to pay the vendor in three payments. 1) Euro 3k as deposit. (2) Euro 5k (3) Euro 3k. There is a nominal payment of Euro 400 that we will make after satisfactory Sea trial.

I need to send the three payments to the vendor's bank in Italy. Does anyone have experience doing this? How did you do it? and How much did it cost?

Thanks,
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Old 11-02-2013, 17:44   #2
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Re: Dollars to Euros

Western Union. Yes you can do it to a bank account and they will convert it magically in the ethos.
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Old 11-02-2013, 17:48   #3
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Re: Dollars to Euros

My daughter is going to the University of Vienna. I do this all the time. The exchange is a shocker.

PS Will work for Euros.
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Old 11-02-2013, 17:49   #4
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Quote:
Originally Posted by Charlie
Hi All:

I need to make three payments to the company in Italy that is repowering my boat. Being in Italy they want their money in Euros. (oh you mean the US dollar isn't the be all and end all ) I bank with a Credit Union and a small Community Bank neither of which has foreign exchange capacity.

I am going to pay the vendor in three payments. 1) Euro 3k as deposit. (2) Euro 5k (3) Euro 3k. There is a nominal payment of Euro 400 that we will make after satisfactory Sea trial.

I need to send the three payments to the vendor's bank in Italy. Does anyone have experience doing this? How did you do it? and How much did it cost?

Thanks,
Take your money to a real bank and buy a cashiers cheque in Euros.

Or for those amounts why not use a credit card.

You can also use Paypal

There are a number of ForEx payments sites , but the amounts are a bit on the small side

Dragi wants the euro lower , expect some more hidden Euro style QE , and loads more BS to keep hood winking the Germans into believing its not happening !!!!!

Dave
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Old 11-02-2013, 17:53   #5
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Re: Dollars to Euros

I'd let the exchange rate decide it but I'd look at Paypal and credit card rates. Actually I'd just phone Eunice at my small local credit union and she would do it for me so I'm surprised that there are any credit unions out there who couldn't do this.
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Old 11-02-2013, 18:28   #6
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Re: Dollars to Euros

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Originally Posted by Sand crab View Post
Western Union. Yes you can do it to a bank account and they will convert it magically in the ethos.
I guess I could look into them. I understand they are very expensive and don't give good exchange rate but maybe this is a leftover prejudice.


Quote:
Originally Posted by Tellie View Post
My daughter is going to the University of Vienna. I do this all the time. The exchange is a shocker.

PS Will work for Euros.
Will have to see.

Quote:
Originally Posted by goboatingnow View Post
Take your money to a real bank and buy a cashiers cheque in Euros.

Or for those amounts why not use a credit card.

You can also use Paypal

There are a number of ForEx payments sites , but the amounts are a bit on the small side

Dragi wants the euro lower , expect some more hidden Euro style QE , and loads more BS to keep hood winking the Germans into believing its not happening !!!!!

Dave
Real Banks I've asked won't do Foreign Exchange unless you have an ccount with them.

Quote:
Originally Posted by bobofthenorth View Post
I'd let the exchange rate decide it but I'd look at Paypal and credit card rates. Actually I'd just phone Eunice at my small local credit union and she would do it for me so I'm surprised that there are any credit unions out there who couldn't do this.
Credit Cards and Paypal aren't accepted by the vendor. I'll try my two credit unions and my three banks to see if any of them have changed since last year.
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Old 11-02-2013, 18:41   #7
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Re: Dollars to Euros

Quote:
Originally Posted by Charlie View Post
Hi All:

I need to make three payments to the company in Italy that is repowering my boat. Being in Italy they want their money in Euros. (oh you mean the US dollar isn't the be all and end all ) I bank with a Credit Union and a small Community Bank neither of which has foreign exchange capacity.

I am going to pay the vendor in three payments. 1) Euro 3k as deposit. (2) Euro 5k (3) Euro 3k. There is a nominal payment of Euro 400 that we will make after satisfactory Sea trial.

I need to send the three payments to the vendor's bank in Italy. Does anyone have experience doing this? How did you do it? and How much did it cost?

Thanks,
Have a look at this site. XE - Universal Currency Converter

Scroll down and find XE Services " send a cheap money transfer". They also have a help service and I believe you can actually talk to someone online. I investigated this to move NZD to USD as it was going to be cheaper than using a bank but the clever people in NZ used a bank and cost me more than than this would have by over USD 100.00 for a transfer of NZD 15,000.00

Hope this info helps.
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When I was a boy my momma would send me down to the corner store with $1 and I would come back with 5 potatoes, 2 loaves of bread, 3 bottles of milk, a hunk of cheese, a box of tea and 6 eggs. Can't do that now, too many f**kn security cameras.
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Old 11-02-2013, 18:48   #8
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Re: Dollars to Euros

Quote:
Originally Posted by Mexdon View Post
Have a look at this site. XE - Universal Currency Converter

Scroll down and find XE Services " send a cheap money transfer". They also have a help service and I believe you can actually talk to someone online. I investigated this to move NZD to USD as it was going to be cheaper than using a bank but the clever people in NZ used a bank and cost me more than than this would have by over USD 100.00 for a transfer of NZD 15,000.00

Hope this info helps.
Looked into that w/ some reviews online and there were a quite a few complaints and the proponents of the service only had 1 review which led me to believe they might not be real. Don't know anything bad but made me nervous.
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Fair Winds,

Charlie

Between us there was, as I have already said somewhere, the bond of the sea. Besides holding our hearts together through long periods of separation, it had the effect of making us tolerant of each other's yarns -- and even convictions. Heart of Darkness
Joseph Conrad
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Old 11-02-2013, 19:05   #9
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Re: Dollars to Euros

Charlie, just read the latest reviews posted in 2012. I did my investigation in 2010 and they then had glowing reports so something has gone astray since then. Glad you picked up on this. I haven't investigated others as yet but there are a couple that do have some good current reviews i will look into them further though before I make any transfers. Thanks for the warning alert.
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When I was a boy my momma would send me down to the corner store with $1 and I would come back with 5 potatoes, 2 loaves of bread, 3 bottles of milk, a hunk of cheese, a box of tea and 6 eggs. Can't do that now, too many f**kn security cameras.
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Old 11-02-2013, 19:08   #10
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Another alternative is open a dollar account specifically for the transaction, get an ATM card , send that to the Italian company , send the pin separately. They can then withdraw Euros using it.

Dave
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Old 11-02-2013, 19:43   #11
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Your credit union may not do FOREX , but they can very likely to an International wire transfer. The SWIFT network is pretty common. Usually costs about $50 pr transaction, so you'd save some if you could do it all in one shot.
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Old 11-02-2013, 20:00   #12
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Re: Dollars to Euros

Once again Western Union is super cheap and do wire transfers just like a real bank. They also convert the currency at the going rate or close. All the fees are upfront and you can do it online from your account to the one in Italy. They do this about a million times a day (maybe). Just go here.
Send Money Transfer | Foreign Exchange | Western Union OnlineFX
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Old 11-02-2013, 20:48   #13
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Re: Dollars to Euros

Any real bank is your best bet. Wire transfer and they will charge a nominal exchange rate fee
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