# Currency exchange and money question from USA to Azores/Portugal



## azoreseuropa

Hi!

I want to know one more thing...

Currency exchange will deceased America cash to Portugal/Azores which I already know that. That's why i do not want to do that. 

For an example.. If I decided to get $4,000.00 out from the bank in America that I saved. Can I use this cash turn into the money order or something so I can bring it to my new bank in Azores/Portugal to deposit that way the exactly amount without deceased it ? Sorry for the confusion.


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## canoeman

Yes it's better to turn cash into some type of money order cashable in Portugal rather than actual cash i.e. notes as a large volume is always difficult to change and often bank won't credit fully until exchange made because of concerns over counterfeit currency or just transfer funds to a relatives a/c in the Azores

You should check on the cheapest way US$ or convert to €'s


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## Janina k

Hello

We have just found this money comparison website, it's for comparing transfering money from country to country. 
*
The Telegraph* says "You can compare the costs of all ways of sending money abroad on Money Transfers Compared | Search and Save, a website set up with government support that is an invaluable tool." 

Having used Caxtonfx in the past we used the Money Transfers Compared | Search and Save site last week for our joint pensions and recieved a little over 24€ more than had we used Caxtonfx as we normally do. 

Below is a link to the site and a comparison for transfering 4,000$ Todays best would be 2,876.26€.

Krystyna

Money Transfers Compared from USA to Portugal


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## canoeman

Still need somewhere to actually send money too


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## azoreseuropa

Interesting..

I do not want to lose money that much!!!

Do you think it is best if I use money wire transfer from my bank to my new bank there without lose that much money ?


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## canoeman

bearmon2010 said:


> Interesting..
> 
> I do not want to lose money that much!!!
> 
> Do you think it is best if I use money wire transfer from my bank to my new bank there without lose that much money ?


Not really sure what you mean by that 1US$ is worth appox 0.72€ so those rates look pretty good

*You* need to check what your US Bank will charge, if transfer is US$ then a Portuguese bank will make a charge to convert to €'s, if your US bank converts they will charge you

Believe you said you will have a pension or disability paid monthly so it's in your interest to find the cheapest way to transfer US to Portugal, from UK I could get paid direct here or transfer via a broker FOC don't know about US


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## azoreseuropa

Maybe an American who lived in Portugal/Azores might help me out ?

I really need to know about it really badly.


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## canoeman

As no American living in the Azores has answered any of your questions maybe they're not Forum members, all *you* need to do is ask at your bank or a currency transfer agency or your pension/disability payer or my UK & Portuguese banks have the costs online


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## bom dia lisbon

Well, I'm an American living in Portugal and via PM I've tried to be helpful by providing an exhaustive list of options. Sorry, but I think what the OP wants is for 4000 USD to arrive in Portugal as 4000 Euro, and as much as I wish that could happen, it won't. Exchange rates are a fact of life. With one method of transfer, you'll end up with a few euros more than another, but in all instances you're going to get about 2.800 euro. It hurts when I think about it too, but the best advice I can give is once you're here, to think in euros, not dollars


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## azoreseuropa

Hi bom dia lisbon..

I was asked for 2nd opinion but seems that the answer is still the same as it was.

I accepted that. It wont hurt so when I live there with my disability income build into my new bank and I should be thankful for more income in it. As you said.. think in euros, not dollars. Right ?


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## canoeman

As I said I don't know the American banking system that well but what you need to do is find the best and cheapest way of transferring funds so you don't lose more than is absolutely necessary in fees, for us from the UK then I can get pensions, disability payments transferred free of fees also my Portugueses bank has a free transfers UK to Portugal in both cases the only cost to me is appox 1c between the bank rate for the day to the rate I get, maybe Portuguese banks have a similar agreement with the US but I've not heard of any


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## azoreseuropa

I understand.. but I think you are confused.. Sorry to confusion you.

For an example of $4,000 was not from my disability monthly at all. I just saved it in the bank. My disability monthly will transfer to Portugal/Azores through Social Security Administration as they said I can.

I am talking about $4,000 as an example (Not real $4,000.. just an example) that I saved money in the banking account.


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## canoeman

Same applies it's still worthwhile finding the cheapest way to transfer funds from 1 country to another if your paying a fee unless it's a one off event *otherwise the fees up up*, I could make transfers direct from any of my UK banks but the min it would cost me is £!8 ($30)


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## azoreseuropa

Yeah.. I understand now.

Before you moved to Portugal, did you went to Portugal to open the bank account before you returned to UK to have your money transfer to Portugal Bank ?


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## canoeman

Yes, but again in UK it is possible to open a Portuguese A/c with a Portuguese Bank, something that from other posts seems impossible for you to do in the US, suggest if you have online arrangements in place i.e. your bank can make international transfers or you have opened an a/c with a broker, even if you bring a bank transfer then you either need an account or the correct type of transfer that can be cashed, your first job even on a visit is a Fiscal number if you don't have one and then to open a Portuguese a/c then you can easily transfer funds or have your disability paid into


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