Currency exchange tips for purchasing US real estate


 
Currency exchange is often overlooked when purchasing property in the USA, perhaps this is because many investors don't realize that they can often save a significant amount of money by "shopping" the exchange farther than just going to their own bank. Perhaps it makes sense to explain where banks and exchange companies make their money. There is what's called an inter-bank exchange rate that is the actual rate at which money is swapped between banks, not the rate that you should expect to pay. 
 
On top of the Interbank exchange rate, each bank or exchange company makes their profit by adding a small margin on top. The key here is the amount of the margin added and simply shopping this between your bank and at least one licensed currency exchange company can potentially save you thousands of dollars.