Who can summarise this with a simple solution for those who need to make online payments in USD but have KES and what to avoid losing out during currency conversion? 

Regards,
Job Muriuki,

Skype: heviejob

On Wed, Mar 23, 2016 at 6:21 PM, Jangita via skunkworks <skunkworks@lists.my.co.ke> wrote:

@Mwendwa, If its a foreign currency account, does that mean they charge $0.35 per withdrawal (at 100bob to the USD or whatever the rate at that time is)?

Yes in foreign lands its a big plus. That I totally get. Humu nchini ndio bado sioni as

 <quote>What you really need a USD card (or foreign card tied to a foreign currency account) for if you are in Kenya that is?</quote> (1 beer)

hehe I'm trying to fight for my DTB bankers 😂

On 23 March 2016 at 18:46, Mwendwa Kivuva <Kivuva@transworldafrica.com> wrote:

Jangita, KCB only charges 35bob for foreign currency withdrawal over the ATM.

For the foreign currency Visa card,  you can use it for online purchase, paying hotels in foreign lands, etc

On Mar 23, 2016 5:20 PM, "Jangita via skunkworks" <skunkworks@lists.my.co.ke> wrote:

Mwendwa

<quote> Consider too, if you do International business. Your business would suffer foreign currency loses if you keep shuffling between different currencies. That is why businesses maintain two accounts both Ksh and $. </quote>

That point I understand, you'd have USD in and you can swift USD out directly (or whatever currency), but I still don't see how a USD card tied to the account helps in this.

<quote> For example, just go to Redot in Westlands to buy equipment with Ksh, they ask you to either come with $ or they give you some funny exchange </quote>

Yes if they want USD, still don't see how would a USD card tied to your USD account would help? Do they have a USD POS going to their USD account? - unless you then get a USD ATM (hefty foreign currency withdrawal charges?)

🤔

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