wisdomseeker423

For example, if I were to recieve a check in the mail for Australian dollars, could I take that to a local bank and have it exchanged into US dollars? If so do you know what the rate of exchange is from Australian dollars to US dollars? What about Paypal? Do they change money from Australian to US dollars and how long does it usually take to get the money transferred to a bank account in that instance?

alandra555

I work at the bank and this sounds like a scam. Do u know the person that sent you the check?

kelly101

generally you can deposit a foreign check into any bank. however they will not give you any cash for that check until it clears and it can take up to 30days in some extreme cases . for the present rate you can go... http://www.x-rates.com/ and select us dollar to AUD or today $1.0619 in other words $1 = 0.94 AUD or 1AUD = $1.06.paypal does do exchange of international funds... however they do not usually give competitive rates. with paypal it should only take a few days since the person sending the cash will have to verify they are sending good money before it is deposited to your account....if you are doing an international... ebay or something i would rec amend using paypal if you are only doing a few transactions if you are going to have multi $1,000 then you should look into something a bit more economical to save you $$$