"Smart Decision" - use ur money smartly

It works well for what it was designed to do. The usefulness of the app is clear, but the frequency in which it has a use for is, for the average consumer, not very often. If you are are person that often finds yourself doing equations or comparisons of this nature, it would be a definite plus. Or if you are sitting down looking at bank statements and what-not =)

Hi,
I was wondering if i got a honduran bank account and i put some money in a honduran bank account would i be able to save money if i get money out of the honduran bank account rather than getting money out of an atm. Also note that i am planning on being in honduras for months.Would i be better off putting some money in a honduran bank account? My bank also said they get 2 percent of the exchange rate what does that mean?
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Payment Service Provider

— modified on Sep 20, 2010, 12:23:08 PM

Probably, as not every bank has an agreement in every country for cost-free withdrawing from a foreign bank account. Getting a Honduran bank account is probably the way to go.

The 2% figure might mean that 2% of whatever you withdraw in Honduras is billed to your account, due to complications and inconveniences with overseas transactions. So, if you withdraw $100 from your account, you are being charged $2 for the transaction. For $1000, the charge would likely be $20.

I hope that makes things clear, but you should definitely go talk to a bank representative to clear everything up and make sure you understand everything you need to.