Lebanese lira to USD exchange

xerxes wrote

Kareem wrote

rolf wroteWhat is the situation at banks today? Anyone went?
Limits, conditions, waiting time?

- Bank Audi
- Cheque in USD collected in cash
- Everything went smooth
- $45 commission ( 3‰)
- Loans completely stopped ( personal, cars, new credit cards etc... )
- Went early morning at 8:30 AM

3% or per mil?

yesterday bankmed took 1% commision on withdrawal

3 per thousand. 1% is really too much. Are you sure ? which bank ?

Please boycott the exchange places, these criminals want to be billionaires in a couple of weeks while putting huge commissions on the rates, if we all boycott them including buying internet and cell phones line recharges we can make them return to normal.
I am upset that there are still no law to fix a max commission rate for them since the Lebanese war

Hmmm... I think I will rather boycott people who do not understand how free markets work.

FNB charging 3000L.L per 1000$ for anything sub 2000$ and 2% (yes, that's percent) for anything over 2000$

xterm wroteFNB charging 3000L.L per 1000$ for anything sub 2000$ and 2% (yes, that's percent) for anything over 2000$

Just to understand the situation better, they're taking 2% when you withdraw from ATM ? or counter ?

Blom Bank has a 2500$ limit per week, and they charge 5$ per 1000$, so 12$ per 2500$
No $ at the ATM, only at the counter and IF they have $ available

infiniteloop wrote Please boycott the exchange places, these criminals want to be billionaires in a couple of weeks while putting huge commissions on the rates, if we all boycott them including buying internet and cell phones line recharges we can make them return to normal.
I am upset that there are still no law to fix a max commission rate for them since the Lebanese war

People can't just boycott exchange places. Our economy highly depends on USD and its becoming a hassle to withdraw USD from banks.
Due to high demand and low supply, exchanges are buying USD at a high price, hence they need to sell it at high price to make profit. Of course some of them are abusing this, but i guess its still the fault of BDL and our politicians after all.

infiniteloop wrotePlease boycott the exchange places, these criminals want to be billionaires in a couple of weeks while putting huge commissions on the rates, if we all boycott them including buying internet and cell phones line recharges we can make them return to normal.
I am upset that there are still no law to fix a max commission rate for them since the Lebanese war

@infiniteloop I am not going to describe you as naive but rather I will share with you my story regarding the shops that sell recharge cards.
My brother has a small cell shop and dealing with recharge cards is his daily business and here is what you need to know:
Service Centers (for Touch & Alfa) will sell you (dealer or regular customer) the recharge card with the exchange of 1507.5LL. Sound great? But guess what? They will only sell you a max of 3 cards because they want you to deal with their resellers. Their resellers (official or black market ones) will sell you at the exchange of 1600LL (3 weeks ago), 1650LL (2 weeks ago), 1800LL(last week) and now they will only accept USD.
In the case of my brother he has only a few USD in his cash drawer that will have to use to buy recharge cards to end up selling them to customers in LL for 3.5% profit if (and only if) the exchange is 1500LL. In this case, it will be very stupid of him not to sell his USD notes for a currency exchange shop for 1700LL (don't you think) and now he has 2 choices:
Sell the 1-month recharge cards for 49,000LL and risk being shout at and reported to the ministry.
Not sell recharge cards.

Now he is not selling recharge cards because he has no access to USD and adding to this problem the bad economy and low purchasing power of customers, he will shutdown his business soon.

Stop being angry at the "small" people.

It should be illegal to sell local services and non imported stuff for USD in lebanon, alfa and touch should charge in LBP it all boils down to the corrupt political system, enough said.

Ok so apparently recharge cards will be priced in LBP from tommorow, one step in the right direction

Guitaret wrote Stop being angry at the "small" people.

^^^^^^ THIS ^^^^^^

Kareem wroteJust to understand the situation better, they're taking 2% when you withdraw from ATM ? or counter ?

Counter, i had a quarrel with the branch manager to no avail. I ended up converting to LBP instead of losing a fairly large USD sum, which is not an issue considering I needed the bulk for LBP payments.

$1500 max withdraw per day, and they take $6 fees

Just received a call from the branch manager at Audi Bank.... I can no longer collect cheques in cash if the value is above $3000 USD

Fransabank appearantly stopped exchanging money from lbp to usd in the online banking.
How am I supposed to cover my payments then?

AVOlio wroteFransabank appearantly stopped exchanging money from lbp to usd in the online banking.
How am I supposed to cover my payments then?

Most banks stopped that months ago