LovesTheTeam.com

When an urgent foreign currency is urgently needed,citizens try to obtain it in many different ways: some buy dollars in exchange offices, others withdraw money from foreign exchange, others buy from individuals. Some of these ways are expensive, others are inconvenient. In a difficult situation, owners of savings in the national currency often try to withdraw dollars from the ruble account. Before insisting on carrying out such an operation, it is worth to carefully study its features, to study the bank's tariffs, so as not to lose a decent amount as a result of conversion.

Conversion of funds in deposit accounts

If you have an ordinary ruble deposit open,You can not directly withdraw the currency from it. In fact, you will have to make 2 transactions: - withdrawing a part of the deposit (if the conditions on it allow it to be done) or closing the deposit; - purchasing money for the money issued at the bank's selling rate. Removing the ruble cash from the deposit is free of charge, but for buying dollars, you will have to pay bank commission that will be equal to the difference between the official exchange rate and the commercial rate of the bank that will sell it to you. If you have a multi-currency deposit, you can withdraw money from it in any currency specified in the contract. Even if now there are rubles on the deposit, you can at any time withdraw your contribution in US dollars. Moreover, the conversion of funds will be carried out at the current official rate, and the commission will not have to pay.

Currency transactions with plastic cards

There are many debit cards today, however,most of them are issued in rubles. According to the available statistics, only 1 card out of 10 is issued in foreign currency. Of course, if necessary, you can withdraw dollars from the ruble card, but then you have to pay a rather large commission. What does it consist of? First, from the difference between the official exchange rate of the ruble and the US dollar. In fact, you buy a currency from the bank and pay a certain amount for this operation. Secondly, it is necessary to know that for the VISA payment system the base currency is the dollar, and for the MasterCard payment system - the euro. Therefore, if you want to withdraw US dollars from the MasterCard, you will pay for 2 conversions at the rates of the payment system: the funds will be transferred first from rubles to euros, and then from euros to dollars. Third, withdrawing the currency in the ATM is expensive: the bank will necessarily write off the commission for issuing cash. Those who are still going to regularly conduct such operations, one can advise only one: in order to avoid unnecessary costs when converting money, it is wise to issue a multi-currency plastic card or open a similar deposit.