Uh-oh …. here is the internet disrupting foreign exchange …
Proper Swap’s story begins in 2012, when Lane and his wife were working abroad in Beijing, China for a year. … On their last day in China, Jenna went to the bank to close her account and was appalled by the fees required to withdraw her money in US Dollars. She chose instead to collect her balance in Chinese RMB, only to be shocked by similar fees at banks in the US upon her return.
Knowing that there must be US travelers headed for China in need of foreign currency, Lane searched for a way to find someone with whom Jenna could trade directly, cutting out the middleman and allowing both her and the other traveler to exchange at the full value of their cash. Unable to find a tool for connecting people looking to exchange currencies, Lane set out to build one… Proper Swap.
Yep … Online service ProperSwap is a way to connect individuals for currency exchange, at a rate agreed to by the individuals. No banks, no kiosks, no agencies …
Read all about it at the link,and the FAQ, here.
h/t Carpe Diem
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Adam, please delete this post
