I am going to Italy next May and want to capture the current exchange rate of US$ to Euros. Can I create an account in Italy, perhaps using an international bank such as HSBC, where I can deposit dollars and have them exchanged to Euros when deposited?
Posted by
OH, OH, USA
1158 posts
I guess the best answer you will get dirrectly from HSBC. Make sure you look at all their fees.
Posted by
Seattle, WA, USA
7737 posts
After you look at the fees to do this plus the hassle, crunch some numbers to see just how much the dollar would have to reverse itself for this to be worth it. Then you have to weigh it against the likelihood that the dollar might continue getting stronger in which case all you've done is locked in your losses.
Posted by
Knoxville, TN, USA
7209 posts
Go ahead and have your hotels charge your credit card in Euros now and pay in advance. If you cancel your trip you could lose your money. Also be sure to use a Capital One card as they do not charge a foreign transaction fee.
We did that on a previous Italy trip and it worked out just fine.
Posted by
Mays Landing, NJ, USA
35 posts
There is a bank that offers world market accounts - you can deposit USD and convert them to Euros. WWW.EVERBANK.COM