Non USA webmasters - do you time your cheque deposits?

**iggysick** · 03-09-2005, 04:36 AM

Nope, I have usd account in my bank and don't convert dollars in local curency 'till I actualy need some cash

**nastyking** · 03-09-2005, 04:36 AM

i send a bunch of checks every month to my bank where i own an USD currency account ...

**rowan** · 03-09-2005, 04:44 AM

How much interest does your US dollar account earn? I'm looking at a local one here and the interest rates are completely shitty, something like 0.6% p/a if you have over $USD5k sitting in there. I'd make more by converting at yesterday's record bad rate and letting it sit in my 6.5% p/a AUD account...

**rowan** · 03-09-2005, 04:50 AM

I got the rates wrong, they're even more shitty than I remembered - 0.25% p/a for average balances between $USD5,000 and $USD50,000. If you've got more then the rate increases to a "generous" 1% p/a

**BabeHunter** · 03-09-2005, 04:50 AM

Originally posted by iggysick

Nope, I have usd account in my bank and don't convert dollars in local curency 'till I actualy need some cash

same here

it would suck to have the money converted right away

**blazin** · 03-09-2005, 05:17 AM

Don't really watch the rates. I usually just go to the bank about once a month to cash the checks.. I don't see the minor fluctuations making all that much difference now days anyhow, its already pretty bad converting it into Pounds sterling.

**Naughty** · 03-09-2005, 05:36 AM

Originally posted by iggysick

Nope, I have usd account in my bank and don't convert dollars in local curency 'till I actualy need some cash

likewise

**rowan** · 03-09-2005, 08:05 AM

Originally posted by blazin

Don't really watch the rates. I usually just go to the bank about once a month to cash the checks.. I don't see the minor fluctuations making all that much difference now days anyhow, its already pretty bad converting it into Pounds sterling.

I figure 1-2% additional income is worth the 60 seconds it will take to review the exchange rates for that day and decide whether to bank or not... it's not a lot of extra money, but it's not a lot of extra time either.

today's recommendation for aussie webmasters: hold!

**submitter** · 03-09-2005, 08:50 AM

$ is still getting down and it will get down in next months/years.

**Antonio** · 03-09-2005, 08:53 AM

My checks take 2-3 working days to get deposited to my bank account. I'm not sure about how they wprk with checks, but when I wire money overseas the bank keeps the money and converts them to $$$ when the rate is most favourable to them (at least this is what a friend of mine told me)....

So not much I can really do, they can keep my checks and in the 2-3 days time frame they can convert them to Soutgh African Rand (the local currency) when the dollar is cheaper.

Non USA webmasters - do you time your cheque deposits?

Non USA webmasters - do you time your cheque deposits?

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