Help and FAQ (frequently asked questions)
To place orders, please call us at 830-990-1342 on weekdays (i.e. Monday to Friday) from 8 am to 5 pm CST.
What is CurrencySource.com?
CurrencySource.com is an international foreign exchange service in business since 1998. We provide a complete range of foreign exchange services for both individuals as well as small and medium-sized businesses.
What exactly is Foreign Currency Exchange?
Foreign Currency Exchange is the settlement and arrangement of funds around the world through the buying and selling of currencies. Banks and Foreign Exchange brokers exchange more than 1.7 trillion U.S. dollars per day.
There are two types of exchange rates: 1) Buy rates that are quoted when you buy a foreign currency and 2) Sell rates that are quoted when you sell a foreign currency.
How large or small are the transactions that CurrencySource.com handles for its clients?
We process transactions starting from as little as one hundred dollars as well as those running into millions. Our high volume trading in the world market gives us the ability to provide all our customers—regardless of the size or the frequency of the transactions concerned—fast and reliable foreign exchange solutions.
Why are the rates quoted by currency trading companies different from those published in the newspapers?
Currency Exchange Rates are volume-driven. As a rule of thumb: the larger the currency requirement, the better is the rate. The rates quoted in the newspapers or as derived from the many reliable Internet currency converters online are $1 million exchange rates as used by banks and other major institutions that convert large amounts of currency.
How can CurrencySource.com offer exchange rates that are better than those offered at a bank?
CurrencySource.com specializes in foreign currency exchange services as against banks that offer a variety of other services of which foreign currency exchange is but a small part. Furthermore, our rates are based on real-time pricing and are not set once per day as is the case with the banks.
How do I process a transaction with CurrencySource.com?
Do the following:
- Contact a specialist at 830-990-1342
- Complete and submit an Account Form
- Book the transaction over phone
- CurrencySource.com will process your transaction
What is a wire transfer?
Wire transfers are electronic transfers of monetary funds from one bank to another. It is a quick and hassle-free way to transfer funds. It’s faster than sending a bank draft via mail courier. Since the funds are already collected, the recipient bank does not put the transfer on hold, to wait for funds to be cleared. A wire transfer is also more secure than cash transactions.
Can a wire transfer be recalled?
No—once a wire transfer is initiated it is guaranteed funds. However, if the information submitted for the wire transfer is incorrect (for example, if the beneficiary’s name or the account numbers given don't match) the process can be reversed. Reversing wire transfers is time-consuming and may take up to a month.
How long does it take to transfer funds from one bank to another using wire transfer?
In general, wire transfers take up to 3 to 10 business days to be processed. Wire transfers sent to politically volatile countries can take up to a month.
What is the difference between a wire transfer and a bank draft?
A foreign bank draft is a guaranteed check that is issued in a currency of the client's choice. Bank drafts come in all major currencies. A bank draft must be physically transferred. It is also often difficult to cash a bank draft in politically volatile countries. A wire transfer, on the other hand, is an electronic transfer of funds delivered directly to the beneficiary's bank account.
What is the Euro? Which countries use it?
Click hereto read our Euro Information section..
Is the US Dollar accepted everywhere in the world?
No. Most of the countries, including the ones in Western Europe, accept only the local currency. However, there are a few countries where the US Dollar is acceptable as well.
Why should I buy a local currency before I’ve traveled to that destination? Can't I purchase currency locally, for instance, at the airport on arrival?
It is a good idea to have the local currency available with you when you travel to a foreign country; you will need money to pay for the transport and other immediate needs. The airport’s exchange windows charge an additional fee for the service and often offer unattractive exchange rates. And if you haven’t planned ahead in time, depending on the time and date of your travel, you may find the exchange booths closed for the day or you may have to stand in long queues before your turn comes. The last thing you’d want to do is be stuck at the airport in an unfamiliar country trying to exchange money.
I live outside the United States. Can I purchase currency from CurrencySource.com?
At present, we can only complete orders for United States residents.
How often are your rates updated?
Our exchange rates are updated each business day. Our rates are based on the Inter Bank Foreign Exchange Rates, which are dependant on market conditions at the time of order placement.
How will I receive my order?
After we contact you to verify your order, we will ship the same via FedEX directly to your home address; we cannot deliver to PO Boxes. Orders will be processed Monday through Friday, and will be shipped once the order is verified with the concerned customer. Saturday deliveries are available on special request at an increased shipping rate.
Do you sell the Iraqi Dinar and other such exotic currencies?
No, we do not sell or buy the Iraqi Dinar. Only currencies listed on the order page are available.
Do you purchase banknotes leftover from overseas trips?
Yes, we do. Click on Currency Buyback for details.
Why should I purchase currency online? Is it safe?
CurrencySource.com is the intelligent choice. We offer the quickest and the simplest way to order foreign currencies online. "No membership necessary" means no easily forgotten username and password to slow you down.
FedEX delivery is the standard when you order from CurrencySource.com. We stock more foreign currencies than any other currency provider in the United States. This means that we can meet all your foreign currency needs anytime—today or in the future.
So, purchase foreign currencies through CurrencySource.com because:
- It’s hassle-free, easy and convenient
- It offers excellent exchange rates
- It uses FedEx delivery without fail
- Let’s you have cash in hand when you land
- You get to avoid long queues and closed booths
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