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TESTIMONIALS |
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"Over 500 euro worth of banknotes is what's been sitting in our company petty cash for years. We were never able to exchange them at the bank or any of the currency places, until I heard about The Currency Commission. The money is going towards our annual Christmas party. Thank you! |
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Carrie L.
London, England |
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PRIVACY STATEMENT |
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The Currency Commission is committed to protecting our clients’ privacy and confidentiality. We adhere to all federal, provincial and state privacy legislation to ensure that all non-public personal information is protected. |
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WHY USE T.C.C.? |
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With The Currency Commission your old currency is quickly converted to valid funds. Through our safe and secure website you will realize value for banknotes that would otherwise be worthless. Sign up and convert your old banknotes today. |
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Gulf News
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TIPS
Currency change
*Shop/call around before you leave on holiday to see what financial institutions offer the best exchange rates.
*Try to avoid companies that charge extra "handling fees".
*If using your credit/debit card while travelling, call your card provider to find out what fees and exchange rates they use.
*These rates can vary greatly, so knowing what they charge can save you a considerable amount of money while away.
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Right on the money
By Maey El Shoush, Staff Reporter
Every year, the shocking equivalent of billions of dirhams worth of non-legal tender banknotes are put aside by holidaymakers, as they think they are no longer useful.
If this sounds like you, and you know you have money going dusty in a drawer somewhere collected over the years from different countries - don’t throw it away!
David Brooks, spokesperson for The Currency Commission told Explore that there is lots that can be done with this forgotten loot.
His company offers to take non-legal tender banknotes and redeem them for euro, US or Canadian dollars.
"Many people keep currency from vacations with the idea that they will use them in the future.
"Sometimes people forget about these banknotes and find it frustrating that banks will no longer convert this money," said Brooks.
The reason they do this he added, is because there isn’t a unified or central process which allows for this type of service and so it has been impossible to redeem multiple currencies in a one-stop environment and with the global financial situation being in its current turmoil, for many people every penny counts.
Treasure hunt
Start by sorting through your cupboards, luggage or spare room, because soon you could be paying off those outstanding bills, going to fancy restaurants or even planning your next holiday.
There is no fee for the service, all you need to do is set up an account on the company’s website.
"After the account is set-up, you simply go to the redemption page and enter the face value of the banknotes.
"Clients get a confirmation email and they then mail the banknotes to our UK or US office," explained Brooks "Within a couple of days a cheque is mailed to the client."
The banknotes are then returned to their country’s central bank, however, at the moment, only pre-euro currencies can be redeemed, but the company is looking at the possibility of including other currencies and coins.
Incentive
So, will this encourage people to travel more?
"For some people, yes, I think it will encourage them to travel. However, we find that most are just happy to get back money for what they assumed was now worthless paper," said Brooks.
Each year, various European Union countries publish the outstanding banknote face value and the Currency Commission then collects the data.
This is then converted into Euro/Dollars in order to calculate how much is outstanding.
Download the article as a PDF here. |
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