User:Jisulee96/Sandbox
Exchange Bank
[edit]An exchange bank is a bank/financial institution that provides foreign exchange services regularly to personal, business, and corporate clients. An exchange bank is different than many banks in North America, Australia, Europe, Asia, etc., where the bank must order foreign currency if they would like to puchase or change foreign currency. An exchange bank is a bank which already has foreign currency, traveler's cheques, etc.
Foreign Exchange Services
[edit]Foreign Exchange Services include:
- Currency Exchange/Foreign Exchange, including the purchase and sale of foreign currency notes, coins, and traveler's cheques
- Foreign Exchange Remittance, which is a service/product where a client send/transfer money to another account at another bank in a different country in a foreign currency, etc.
- Foreign Currency Banking, where customers can bank (deposit, withdrawal, transfer, etc.) in foreign currency.