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Motley Fool Global Gains / GGM: Intl. Broker Capabilities

URL:  http://boards.fool.com/sam-tough-question-i-assume-that-youre-now-in-24882136.aspx

Subject:  Re: international curriencies Date:  12/1/2006  12:03 PM
Author:  TMFOtter Number:  20 of 195

Sam-

Tough question. I assume that you're now in the United States. Most banks do not deal in currency trading here, and for the ones that do the currencies they'll take are quite limited.

I've often thought that a really good small online business would be an eBay or Craigslist type forum where you could match people with petty cash from a country with someone who needs petty cash before traveling. Alas, I don't have time for it, and no one else has done it.

It would work very similarly to freecycle.org.

The best place I could refer you to would be the American Currency Exchange in Detroit.

http://americanxchange.com/home1/

You're going to get hit pretty hard in fees and spread on the transaction. If you know folks who are going to Iraq, you might also consider private transactions with 'em so they have some cash going in.

Pretty surprisingly inefficient market, but that's what it is.

Bill Mann
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