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extra work involved in foreign exchange into bank acc?

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  • 08-06-2010 1:12pm
    #1
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭


    i was in my local bank today. i had some sterling. i wanted to lodge it into my bank account. from the cashiers point of view he needs to do two separate transactions - convert to euro and then lodge to my account. is this right?

    it took him about 10 mins to complete this. it seems like a massive amount of time for something that should be so simple.

    am i really quicker to have him convert it first next time, hand me the cash and then hand the cash back to him to lodge?

    * he may have been new but seemed fairly confident
    * all counters in this branch do foreign exchange as well as regular transactions

    just looking for some feedback from those who may work in a bank.

    thanks


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    #2
    Kalimah
    Registered Users Posts: 1,182 ✭✭✭Kalimah


    Well when I worked in the bank many moons ago that tranaction would only have taken a minute or two and certainly not 10. At the FX counter you had a foreign exchange calculator and all you had to do was press "Buy Sterling Cash" and the amount and bingo there was the irish equivalent. It even did the commission too if you were charging that. It printed out the exchange rate and away you go. All the cashier did then was put the lodgement docket with the converted Irish amount in with the rest of the lodgments and the back office processed it. Simple. If anything I would have thought things were done faster now.


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