If I use xe.com to make a deposit into a hotel's account.....
Mar 10th, 2005, 04:28 PM
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If I use xe.com to make a deposit into a hotel's account.....
What do I need to ask the hotel, if they will accept a check in euros? So I guess this really wouldn't be a deposit, it would be a check that gets mailed to them?
If this is not the best way to do this, how should I do this? In the most inexpensive way?
If this is not the best way to do this, how should I do this? In the most inexpensive way?
Mar 11th, 2005, 04:34 AM
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I never heard of the foreign currency exchange services (as opposed to rate <i><b>info</b></i
provided by XE.com before this post, but with a search on "xe", I see that at least two previous threads from the past few months report some experience with them.
http://www.fodors.com/forums/threads...p;tid=34545302 is the most useful with "TimS" reporting an actual cost of about $2 USD for a 33 GBP (58 USD) transfer. TimS is careful to note the considerable lead time to use this service (same is generally true of PayPal, for comparison sake, though I don't know how PayPal would be compared to XE for this use; PayPal states that they add 2.5% for all currency conversions).
On http://www.fodors.com/forums/threads...p;tid=34563819 "jeanm" offers som observations, though it was not based on experience with any <i>completed</i> transactions (at that time); perhaps an update will be forthcoming? I think I might top that thread.
I have always wondered what is/was the business model for XE.com - - for TEN years, they have operated this "good Samaritan" website - - why? Perhaps this is the reason: to build good will, reputaton and name recognition as "the leader" in foreign currency exchange <i><b>info</b></i>. That's a lot of dues to pay to crack into the international banking business. But maybe it's just the way "a few little guys" could crack into a very big boys' game. If they're honest, then I wish them well.
On their own website, they provide links to the "BBB Online Reliability program" - - and it shows that they have been in business for ten years (but only in the BBB database since June 2004); they have a "spotless" record there (but why wouldn't they when all they ever did for 9 and a half years was provide free info!?)
They have six employees. I believe that for a long time eBay (which owns PayPal) only had a small staff, too... eh?
There are numerous other threads here on sending a deposit in other ways. For example, just send a personal check in your own local currency, with a promise to pay cash in euros when you arrive. Many people report success with this. They won't cash your check (unless, perhaps if you are a no-show) as it could easily cost them 20 euros to do so.
If you decide to use XE.com - - please repot back later on how it went.
Best wishes,
Rex
provided by XE.com before this post, but with a search on "xe", I see that at least two previous threads from the past few months report some experience with them.http://www.fodors.com/forums/threads...p;tid=34545302 is the most useful with "TimS" reporting an actual cost of about $2 USD for a 33 GBP (58 USD) transfer. TimS is careful to note the considerable lead time to use this service (same is generally true of PayPal, for comparison sake, though I don't know how PayPal would be compared to XE for this use; PayPal states that they add 2.5% for all currency conversions).
On http://www.fodors.com/forums/threads...p;tid=34563819 "jeanm" offers som observations, though it was not based on experience with any <i>completed</i> transactions (at that time); perhaps an update will be forthcoming? I think I might top that thread.
I have always wondered what is/was the business model for XE.com - - for TEN years, they have operated this "good Samaritan" website - - why? Perhaps this is the reason: to build good will, reputaton and name recognition as "the leader" in foreign currency exchange <i><b>info</b></i>. That's a lot of dues to pay to crack into the international banking business. But maybe it's just the way "a few little guys" could crack into a very big boys' game. If they're honest, then I wish them well.
On their own website, they provide links to the "BBB Online Reliability program" - - and it shows that they have been in business for ten years (but only in the BBB database since June 2004); they have a "spotless" record there (but why wouldn't they when all they ever did for 9 and a half years was provide free info!?)
They have six employees. I believe that for a long time eBay (which owns PayPal) only had a small staff, too... eh?
There are numerous other threads here on sending a deposit in other ways. For example, just send a personal check in your own local currency, with a promise to pay cash in euros when you arrive. Many people report success with this. They won't cash your check (unless, perhaps if you are a no-show) as it could easily cost them 20 euros to do so.
If you decide to use XE.com - - please repot back later on how it went.
Best wishes,
Rex
