Currency exchanges in Budapest
in [Europe]
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From: =?ISO-8859-1?Q?Kir=E1ly?= on 10 Jun 2010 12:19 Martin <martin(a)invalid.invalid> wrote: > > and exchanging it at OTP Bank in Budapest. > > Assuming the don't charge? OTP does not charge any fees other than what is already built into the difference between the buy and sell rates. I just wonder if any other places have better rates. > Open an account with a bank that doesn't charge exorbitant rates. Maybe a bank like that exists in your country. But not here in Canada. They all have extremely high foreign ATM fees. High enough to make it not worth it. If you can prove me wrong with a helpful suggestion, I'm all ears. -- K. Lang may your lum reek.
From: =?ISO-8859-1?Q?Kir=E1ly?= on 10 Jun 2010 12:24 Tom P <werotizy(a)freent.dd> wrote: > In this case (DKB) they seem to offer the free foreign ATM cash > withdrawal as a lost leader and charge on other services - like charging > for domestic cash withdrawals - which I never use. There are no DKB branches in Canada. No financial institution in Canada offers accounts with low-fee or fee-free access to foreign ATMs. -- K. Lang may your lum reek.
From: tim.... on 10 Jun 2010 12:45 "Tom P" <werotizy(a)freent.dd> wrote in message news:87bup8Fh4kU1(a)mid.individual.net... > Martin wrote: >> On 10/06/10 11:01, Tom P wrote: >>> Martin wrote: >>>> On 10/06/10 02:53, Kir�ly wrote: >>>>> Yes, yes, I know, I know. These days everyone uses ATMs. But my >>>>> bank charges such a hefty fee for using foreign ATMs that I have >>>>> already determined that I will save money by bringing cash from home >>>>> (Canada) and exchanging it at OTP Bank in Budapest. >>>> Assuming the don't charge? >>>> >>>>> Are there any other exchange shops that have better rates than OTP >>>>> Bank? >>>> Open an account with a bank that doesn't charge exorbitant rates. >>>> >>> Ditto. I have a card account with an online bank that charges nothing >>> for cash withdrawals at foreign ATMs. >> >> Especially as if a bank grossly overcharges on one item, it is probably >> overcharging on others. > > In this case (DKB) they seem to offer the free foreign ATM cash withdrawal > as a lost leader why is it a loss leader? It doesn't cost the bank anything for you to use a foreign ATM so what are they losing? In any case, they can always recoup costs by charging a margin on the exchange rate, most people wouldn't even notice this. It's the minimum fee 5 dollars for a 50 dollar withdrawal, that's the problem. tim
From: Steve Cain on 10 Jun 2010 13:27 >>>> Yes, yes, I know, I know. These days everyone uses ATMs. But my >>>> bank charges such a hefty fee for using foreign ATMs that I have >>>> already determined that I will save money by bringing cash from home >>>> (Canada) and exchanging it at OTP Bank in Budapest. >>> >>> Assuming the don't charge? >>> >>>> Are there any other exchange shops that have better rates than OTP >>>> Bank? >>> >>> Open an account with a bank that doesn't charge exorbitant rates. >>> >> >> Ditto. I have a card account with an online bank that charges nothing >> for cash withdrawals at foreign ATMs. > > Especially as if a bank grossly overcharges on one item, it is probably > overcharging on others. As I read the problem outline above by the OP my first thought was surely he must be talking about taking cash out on his MC or something. If not that this guy has one hell of a bank! s
From: jfeng on 10 Jun 2010 13:41
You could get an account with Citibank. A quick check on their web site shows that they have branches in Hungary and in Canada. When I did not qualify as a Citigold customer, the exchange rate was about 1-2% higher than the wholesale rate published in the WSJ. When I was a Citigold member, the exchange rate seemed to be identical to the wholesale rate. This worked for me at Citibank ATMs in Japan, China, Czech Republic, Greece, Spain, etc. The only disadvantage to this strategy is that you have to find a Citibank ATM, since the usual fees will apply at non-Citi machines. |