US ($) Currency Thread 1 (closed - use thread 2)

lynzpower

The Duetchmarks, have you checked what the note is selling for on ebay? Maybe a collector could have it ?? I dont think they have value any more ( could be wrong) as clearly the Euro has been out for ages... so a coin collector would give you "value" based on the market rate ( ie what they would pay) there is no other "VALUE" I dont think these days.

Voyager2002

No-one can tell you whether the dollar will recover in value. My guess is that it will go down before it comes up, but I am usually wrong about these things. All that I can say for sure is that you are not earning any interest on your dollars.

I was under the impression that Francs, Deutschemarks, lira and so forth could still be exchanged for Euro at banks in the country that originally issued them. Surely a Google search would answer this? But in any case Ebay would tell you the current market value of the note you hold, which might perhaps be higher than its face value.

lynzpower

I juust checked it on Xe.com/ucc and its stating that DMs are no longer legal tender.

Live rates at 2007.11.04 15:11:17 UTC Warning: DEM Germany Deutsche Marks is obsolete and is no longer legal tender.1.00 DEM

=

0.742396 USD

Germany Deutsche Marks obsolete United States Dollars 1 DEM = 0.742396 USD 1 USD = 1.34699 DEM

Thomask

I have both a NW card and an account with Xe.com/fx.

I need to purchase 200 euros to pay somebody back. I'm going to Belgium in a week so could take my NW card and withdraw the euros then. Alternatively, I can order 200 euros from xe.com/fx, paying XE in GBP via bacs (free) and have them send this person a draft (also free) worth 200 euros. They seem to offer good rates. What do you all think?

My only concern is this person's bank in the UK (Natwest) may charge them a fee for depositing a cheque in a foreign currency? Can anyone confirm this and how much it'd be?

Thank you

dzug

You can change DM at the central bank in Germany indefinitely. Not at commercial banks though - that ended in 2002.

You may find someone like Thos Cook will still change them here but that's a bit of a long shot.

alchemista

Thomask wrote: »

I have both a NW card and an account with Xe.com/fx.

I need to purchase 200 euros to pay somebody back. I'm going to Belgium in a week so could take my NW card and withdraw the euros then. Alternatively, I can order 200 euros from xe.com/fx, paying XE in GBP via bacs (free) and have them send this person a draft (also free) worth 200 euros. They seem to offer good rates. What do you all think?

My only concern is this person's bank in the UK (Natwest) may charge them a fee for depositing a cheque in a foreign currency? Can anyone confirm this and how much it'd be?

Thank you

Pulling it out of ATM with NW will be the best way to do it. Yes, a bank would charge to deposit a cheque in foreign currency usually (unless the person has some kind of special bank account).

Xe.com generally offers 3% over market rate rates, whereas ATMs you can generally get about 1% over market rate rates.

At 200 euros, you're not talking about a big difference either way though. I generally recommend XE when you're doing a large transfers (i.e. thousands), as usually ATMs can only do smaller amounts (i.e. hundreds).

If the person is in the UK, why can't you pay them in GBP at the market exchange rate?

[Deleted User]

In Gatwick and Stansted airport both TTT Moneycorp and Travelex will exchange your 50 DM note. They take all the old pre-euro currencies except the Dutch Guilder for some reason. Their rates for those expired currrencies are not too bad, but compare before you change them, especially for larger amounts.

MKUX3

can i buy US dollars with my debit card and not get charged any charges i.e advance charge i have a tsb debit card and an actual visa card

whic one should i use to reduce charges??

alchemista

MKUX3 wrote: »

can i buy US dollars with my debit card and not get charged any charges i.e advance charge i have a tsb debit card and an actual visa card

whic one should i use to reduce charges??

A visa card will generally charge you a cash advance fee, plus a 1-3% fee (either it will show as a separate fee or it will be hidden in the exchange rate they give you).

A debit card will generally not charge you a cash advance fee, will charge you the 1-3% fee, and possibly may charge you ATM and/or extra foreign exchange fees (depends on your bank).

I'd check the details with your bank and credit card. Usually ATM/debit cards are the cheapest.

hammy_the_hammer

the reason this question is so stupid is that all the people who have contributed would probably have recommended buying dollars when they went $2 to a pound ....which in hindsight was the wrong advice and must have subsequently cost people money
if you can predict accurately the currency markets you should apply for a job in the city