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Hi, I have a sum of Euros and i want to deposit it in my account in LBP since i have never traded with euro before what is the best way to do it
1- Just go to the bank and sell then the euro directly to LBP to my account
2- Sell them for USD in the bank and then deposit in LBP
3- Use external exchange shops to do the exchange before going to the bank to deposit
please advice which is the best method.
thank you for your help
I would have chosen option 3
Another option is find someone who needs euros and barter with them. Zero interest and win-win situation.
I think there was a site for that, or just ask around.
I may travel to Europe so as soon as it is confirmed I will tell you and we can barter.
Yet another option is to open a Euro account, some banks have that (Bank Med), only if you have a big sum, otherwise not worth the trouble.
Last edited by rolf (July 30 2019)
I need some (around 1k)
What is the sum we are talking about? I might be interested.
Rolf's suggestion is your best shot because it gives you the spot rate without any commissions.
Otherwise, I would suggest you pursue all three options and compare the fees and go with the one that offers you the lowest fees and best rates. This assumes you have a significant sum. If the sum is not large, then just go with the most convenient option.
Thank you all for your valuable input.
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