Let’s check my balance first…
45 million won
…I don know what this means!
FOREX is not for the faint hearted
Submitted 4 days ago by orhtej2@eviltoast.org to [deleted]
https://eviltoast.org/pictrs/image/22cace1a-4c4c-4de5-9a48-7928c939cfef.jpeg
Comments
aeronmelon@lemmy.world 3 days ago
OmegaLemmy@discuss.online 3 days ago
About… 4.5 thousand dollars… My best bet.
T00l_shed@lemmy.world 3 days ago
I like the way the cad dollar is a x100 the yen and x1000 the won. Roughly of course it makes the mathing a bit easier
gon@lemm.ee 4 days ago
Yikes!
wise_pancake@lemmy.ca 3 days ago
As the snake charmer said in Snakes on a Submarine: Maybe one, Maybe many.
Geodad@lemm.ee 3 days ago
I just got dollars at Camp Humphreys and used US money. It was always accepted.
Baphomet_The_Blasphemer@lemmy.world 3 days ago
And you always overpaid because of it.
Geodad@lemm.ee 3 days ago
Not 20 years ago. We did watch the exchange rates and swap dollars for wan when it was beneficial, but it was fairly easy math to do price conversions in our head back then.
The rate was around 400 wan to 1 dollar. It never fluctuated more than 15 or 20 wan either way.
deranger@sh.itjust.works 4 days ago
Using an ATM to get foreign currency is still insanely better than using a currency exchange place like you see in international airports. Talking 1-2% fees versus 15-20% or higher.
frog@feddit.uk 4 days ago
Yeah. If you have an option, going to a currency exchange place in a local area is a lot closer to the exchange rate.
The ATM I used had like a $6 fee on top of a 5% of what I was taking out. Ewww.
MentalEdge@sopuli.xyz 3 days ago
The guy you’re replying to, is saying the opposite.
Using an ATM usually gets you your banks exchanging rate, which depending on your bank, can be damn near free. (If the ATM tries to do the exchange for you, refuse, let your bank do it).
Same goes online. Paying with paypal, I never ever use their exchange service. Charging my card directly with the foreign currency is ALWAYS a better deal due to how good the exchange rate provided by my bank is.
socsa@piefed.social 3 days ago
You can almost always deny to accept the exchange fee and get your own bank's rate.
orhtej2@eviltoast.org 4 days ago
Probably depends on the EULA of your bank, cashless transactions are ok for me, ATM withdrawal in foreign currency comes with extra charge.
shneancy@lemmy.world 4 days ago
it does yes, but currency exchange places near airports/train stations are notorious for pretty much stealing from you. Seriously, never buy a different currency near any place considered vaguely international, it can get as bad as getting half of what you’d get in a reasonable place, nowhere near as bad as withdrawing from an ATM in a foreign country
boonhet@lemm.ee 3 days ago
There are neobanks for people who travel a lot. Both Revolut and Wise should let you either convert ahead of time or just convert as you withdraw (Revolut has a notice saying please don’t let the ATM do its own conversion as the ATMs are going to be higher fees). Currencies here. They apparently have a 2% withdrawal fee with a 1 EUR minimum. Revolut’s fee-free maximum depends on your plan. Metal gets you a metal card and 800 EUR per month fee free, Ultra or whatever gets you a platinum plated card and 2000 EUR per month fee free, but it’s also ridiculously expensive compared to their free, plus and premium plans. Metal itself is already a bit expensive, but it’s still way less than Ultra.
Wise has both a monthly allowance for proportional fee free withdrawals and a monthly limit of 2 completely feeless withdrawals. You get hit by fees once you hit either limit Basically: From the 3rd withdrawal of the month I pay 0.50 EUR for every withdrawal, and for any withdrawals above 200 EUR per month I pay 1.75%. If I make card payments or withdrawals in e.g the US, there’s a 0.47% conversion fee from EUR. In South Korea it’s 0.71%.
In both cases, the fees are predictable and low, just gotta familiarize yourself with the beforehand. There are other similar options out there as well, but these are the ones I use (Wise is great for giving you both a USD and EUR native account so you can receive USD and convert it to EUR instantly. Other currencies as well, but these are the ones that matter for me).