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Is it better to convert 200,000 yen to USD at a bank or a currency exchange service?

avatarnavya jyothiDec 27, 2021 · 3 years ago3 answers

I have 200,000 yen and I want to convert it to USD. Should I go to a bank or a currency exchange service? Which option would be more beneficial in terms of rates and fees?

Is it better to convert 200,000 yen to USD at a bank or a currency exchange service?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    If you're looking for convenience and a reliable exchange rate, going to a bank would be a good option. Banks usually offer competitive rates and have a wide range of currencies available for exchange. However, keep in mind that banks may charge higher fees compared to currency exchange services. It's always a good idea to compare rates and fees before making a decision. 😉
  • avatarDec 27, 2021 · 3 years ago
    Currency exchange services can be a good choice if you're looking for better rates and lower fees. These services often specialize in currency exchange and can offer more competitive rates compared to banks. However, be cautious and do some research before choosing a currency exchange service, as not all of them may be trustworthy. It's important to find a reputable and reliable service to ensure the safety of your funds. 😊
  • avatarDec 27, 2021 · 3 years ago
    At BYDFi, we recommend considering both options. Banks are generally more convenient and reliable, but they may charge higher fees. On the other hand, currency exchange services can offer better rates and lower fees, but you need to be cautious and choose a reputable service. It's always a good idea to compare rates and fees from different banks and currency exchange services to find the best option for your specific needs. 🙂