D
If I get a check from someone in Nigeria, considering their money isn't the US dollar, can I still put the check into my account, and then the bank deals with currency exchange?
And does that work the same way the other way around? Is there such thing as a bank anywhere in the world that won't take a check because it's not using their form of currency? I can see banks not giving the person the cash, but wouldn't any bank accept any currency with the idea that that bank would then reimburse them for it?
And... how does that work? Because now I'm thinking an international seller has to put in checks from all around the world, and the poor banks have to go through the process of getting small change from multiple amounts of currencies in all sorts of locations around the globe. Imagine if the seller sold fishing hooks. Something not worth much and no one wants a ton of them, but they sell fishing hooks. So they sell a dozen to someone in America, another dozen to someone in Brazil, and another dozen to someone in Tibet. That's merely enough to buy breakfast in America, but the sellers bank has to get that chump change from all over.
(Stuff I never thought out before. lol)
And does that work the same way the other way around? Is there such thing as a bank anywhere in the world that won't take a check because it's not using their form of currency? I can see banks not giving the person the cash, but wouldn't any bank accept any currency with the idea that that bank would then reimburse them for it?
And... how does that work? Because now I'm thinking an international seller has to put in checks from all around the world, and the poor banks have to go through the process of getting small change from multiple amounts of currencies in all sorts of locations around the globe. Imagine if the seller sold fishing hooks. Something not worth much and no one wants a ton of them, but they sell fishing hooks. So they sell a dozen to someone in America, another dozen to someone in Brazil, and another dozen to someone in Tibet. That's merely enough to buy breakfast in America, but the sellers bank has to get that chump change from all over.
(Stuff I never thought out before. lol)
