Currency Rules and Regulations

Since currencies and conversions vary from country to country, when you are sending money to another country, it is important to know the rules and regulations recipient’s country.  Another option for for safety, security, and also for getting the best possible conversion rate is to carry a prepaid debit card such as the atmcash card.

Australia

Australia Dollar (AUD$) = 100 cents. Denominations: AUD$100, 50, 20, 10, 5
The Australian Dollar is used in Australian Antarctic Territory, Christmas Island, Cocos Islands, Heard and McDonald Islands, Kiribati, Nauru, Norfolk Island, Territory of Ashmore and Cartier Islands, Territory of Coral Sea Islands and Tuvalu.

Import/Export Restrictions: There is no fee for importing and exporting of currencies; however any amounts over AUD$10,000 must be reported to the Australian Transaction reports and Analysis centre (AUSTRAC).

Currency Exchange: There are currency exchange facilities at all major airports and most hotels. There may be a small charge for cashing in Travelers Checks.

Barbados

Barbados Dollar (BD$) = 100 cents. Denominations: BD$100, 50, 20, 10, 5, 2
The Barbados Dollar is similar to the US Dollar.

Import/Export Restrictions: Importing local currency is free, however, there is a limit of BD$500 for export. The import of foreign currency is also free, however, there is a USD$1000 or equivalent limit on import.

Currency Exchange: The most popular currency exchange facilities are available at banks. There are currency exchange facilities at major airports and hotels but the rates are usually not as good.

China

China Yuan Renminbi = 10 jiao = 100 fen. Denominations: CNY100, 50, 20, 10, 5, 1

Currency Import/Export Restrictions: The import and export of local currency is limited to 6,000 Yuan. The import of foreign currency is free; however, it is required that you declare any amounts over USD $5,000 or equivalent. The export of foreign currencies is limited to the amount declared as imported.

Currency Exchange: Travelers checks, preferably in US Dollars, and foreign cash, can be exchanged in cities at the Bank of China. You will need to show proof of identify in the form of a passport and you will be charged a commission. You can also use most western currencies in the larger hotels and also in stores that cater for tourists (called ‘friendship’ stores).

Dominican Republic

Dominican Pesos = 100 Centavo(s). Denominations: DOP2000, 1000, 500, 100, 50, 20, 10

Import/Export Restrictions:  The import and export of local currencies are limited to DOP20,000 in notes and DOP100 in coins. Any amount of foreign currencies over USD $10,000 must be declared as well if this amount is to be re-exported. Exporting foreign currencies are free up to USD $10,000 or equivalent. Larger amounts require approval from the Central Bank.

Currency Exchange:   The Dominican Peso is available to purchase outside of the Dominican Republic and it is not illegal to carry the local currency into the country. Dealers completed money exchanges must be approved by the central bank.

Egypt

Egypt Pound = 100 Piastre(s). Denominations:  Piastres5, 10, 25, 50 EGP1, 5, 10, 20, 50, 100

Import/Export Restrictions: The import and export of local currency is limited to EGP 5,000. The import and export of foreign currencies is free.

Currency Exchange: If you take Travelers checks it is advisable to take them in US Dollars to avoid additional costs. The private exchange bureaus, called ‘Forex’, are open daily and banks in major hotels are open 24 hours to exchange currency.

Send Money to Inmates

The Commissary at Federal institutions was established by the Department of Justice in 1930. This Commissary was developed to create a savings account for the money that inmates receive not issued from the Federal State Penitentiary.

The purpose of these accounts was to allow the Bureau of Prisons to maintain accountability for monies inmates receive while incarcerated. Funding sources can be from family, friends, or other sources.

Funds can be sent to Federal inmates by way of the U.S. Postal Service or a money transfer service through the Quick Collect Program. The inmate must be housed at one of the Federal prisons before money can be received. If the inmate is not physically housed at one of these facilities, the funds cannot be posted and it will be returned or rejected.

Anyone can send money to inmates through the mail. There are strict rules that must be followed or the funds may be rejected.

Guidelines for Sending Funds

Money should be mailed to:

Federal Bureau of Prisons
Inmate Name
Eight Digit Inmate Registration Number
Post Office Box 474701
Des Moines, Iowa 50947-0001

The funds must be in a form of money order. The money order must be made out to the inmate’s full name and eight-digit registration number. Cash and personal checks will not be accepted for deposit.

The name and address of the sender must appear in the upper left hand corner of the envelope. This is a necessity in case the mail needs to be returned to the sender.

The deposit envelope cannot contain anything other than the deposit. If this happens, the Bureau of Prisons will dispose of all items included with the deposit.

If the funds are not received, it is the sender’s responsibility to trace the funds through the establishment where the money order was purchased.

It is important that the sender is aware of the specific instructions of sending money. If the inmate number is incorrect and funds are inadvertently posted to another inmate’s account, the funds may not be returned.

Internet Money Transfers

As families are branching out to other areas of the globe, and migrants travel abroad in search of a better life, more people are sending money, and the need for quick, easy, and inexpensive ways to transfer money continues to be an issue.

Whether you are sending money to support your family back home or sending money to a child or relative studying abroad or traveling, you want the process to be a smooth one. Internet money transfers can be done effortlessly and with a few clicks of your mouse and money can reach the recipient in no time.

Why Transfer Online?

Transferring money online has several advantages.

1. Since the transaction is done online, there is no need to carry large sums of cash.
2. There is no need visit to a money transfer agent’s location.
3. You can transfer money to any place in the world.
4. You can transfer money from your bank account or credit card.
5. The recipient receives money faster than waiting for traditional checks or money orders to arrive.

Choosing an online money transfer provider

New online money transfer services are appearing almost daily, so it is important to select a company that will suit your personal needs.

1. Make sure that the company services the area in which you wish to send money to.
2. Choose a company that offers safe secure transactions.
3. Review the times the funds are available for the recipient.
4. Review all of the fees before signing up with a company, including reloading fees.

Note: Never use a public computer to send money (your bank information may be at risk).

How to sign up

You will need to register online to open an account. Your account is linked to a credit card and/or bank account. Once you have signed up, you can start sending money. The recipient will have to have a bank account or a credit or debit card to retrieve the funds. Some companies allow you to make transactions via mobile phones or even email.

Companies like ATMCASH make your money transfers effortless when sending money online. After signing up, ATMCASH will FedEx a debit card to the recipient, so there’s no long waiting period for a card to arrive.

You simply supply the recipient with the security PIN number and they will be able to access funds. When it’s time to send money again, you simple go online and specify the amount. With ATMCASH, funds can be transferred for as little as $5.

Online money transfers are becoming increasing popular for day-to-day transactions around the world. This type of money transfer is an excellent choice for sending money to families and friends on a recurring basis.

International Money Transfer Services

A common dilemma which faces Australians, South Africans, Canadians, British, New Zealanders, as well as citizens of smaller countries is sending money internationally. An array of choices does exist for international money transfers, but finding a quick, secure and inexpensive money transfer service is not always easy.

Money Transfer Options

Everyone has heard of the top money transfer companies. Most of the companies have locations throughout the world. Secondary countries have small copycat locations in various locations. The problem with these money transfer service is that you almost always have to perform transactions in person and you must use cash.

This presents a safety issue on both sides, as you become easy prey to those undesirables waiting in the shadows. Some money transfer services will allow you to transfer cash to a bank account, but those are few and far between.

Money transfer services seem to be a better option for people in remote locations who have no bank account and no local address. This service is also suitable for overseas travelers who need quick cash sent from their home.

There are advantages and disadvantages to using money transfer services:

Pros:

1. Multiple locations even in remote areas.
2. Internet access is not required.
3. No bank account is required to send or receive cash.
4. Money reaches the recipient quickly, depending on the location.

Cons:

1. You must pick up cash in person.
2. You cannot transfer money from a bank account or credit card.
3. This is a not a quick fix and not a solution if you send money on a regular basis.
4. Fees can be extremely high.

Cost

When transferring money through a money transfer service, the companies usually charge a percentage of the total amount transferred or a set fee for certain amounts. The amount the recipient receives will depend on the exchange rate and transaction fee that the money transfer agent charges.

This type of service is the best way to send small sums of money, such as on an emergency basis. Considering the fees and the exchange rates, this is not the best option if you need to transfer money frequently.

Other Options

1. If you have to send money to friends or relatives, consider making a payment to their credit card.
2. Consider gift cards. You can purchase them at retail stores or online. Many of them bear the VISA or MasterCard logo. The recipient can use them where these logos are displayed.
3. Consider an ATMCASH card. The recipient is sent a debit card. You load funds whenever the need money.

When you have to send cash to others, there are many options available. While money transfer services are quick and easy, the fees involved often put less money in the pockets of the recipient. Gifts cards are great for one-time emergencies.

Debit cards are easy to obtain and can be used on a recurring basis as they are reloadable. This is an excellent option for people who are unable to travel to pick up money, such as the elderly. Debit cards also work well for students traveling abroad or anyone who relies on money sent from someone in another country.

The Maestro Card

Maestro Card

Maestro is a debit card service that is owned by MasterCard. Maestro cards can be obtained from banks associated with MasterCard and are linked to a customer’s account. Maestro cards can also be prepaid cards.

How It Works

These cards use the PIN system to make POS (Point of sale) purchases. The card is swiped through the terminal and must be authorized by the issuer in order to verify are sufficient funds in the account to cover the purchase. The cardholder must enter a 4 or 6-digit pin number or sign the sales receipt to confirm the transaction.

Where Can the Maestro Card Be Used?

The Maestro card is accepted worldwide, but in countries in the middle-East, its competition has taken over and it can only be used to withdraw cash from certain ATM machines.

In the United States the Maestro network is closely related to Cirrus ATM, which is also owned by MasterCard. A PIN-based debit card system is used and they mainly use a card and PIN without a chip.  All of the debit transactions using a signature are handled through the main MasterCard system.

When to use a Prepaid Maestro Card

1. If you want to give someone a gift, a Maestro prepaid card is accepted worldwide.
2. If you are unable to open a bank account or get a credit card, with Maestro prepaid card, you don’t need credit.
3. If you want to help your children or young adults develop good spending habits; they can only use what you load onto the card.
4. If you have an elderly loved one that is still independent; a Maestro card gives them the flexibility of a credit card, but it limits the amount they can spend.

The Maestro card has many benefits, depending on what you are looking for in a debit card.  They can be given as gifts, used to pay bills, shop online, or even taken on a trip. As with any prepaid debit card, please review the fees before signing up.

Travel Cash

So, you’ve decided to go on a cruise and the departure date is fast approaching.  Double-checking everything, you make sure that you have all of your clothing packed, your cosmetics, and toiletries.  You’ve gone to the bank and gotten Traveler’s checks, you make sure you have your credit cards and/or debit card, and last but not least, you make sure your cash is secure.  Let’s face it; you have to have some cash, right?

Now, you’re on your cruise, having a wonderful time enjoying the activities and food and upon returning to your cabin, you realize someone has been in your room and taken not only your cash, but your credits cards and Traveler’s checks.  Well, how could that have happened?  You securely put them in your luggage.  Was it the maid service?  Did someone actually break in?  Whatever the reason, your cash, Traveler’s checks and credit cards are gone.  Now what – you call to report this and go through the hassle of reading off numbers, having checks reissued, and just the agony of it all could drop the anchor on your trip.

Is this a terrible scenario?  Of course it is – no money, no credit cards, and no cash.  That’s enough to make you want to say, “Turn the ship around,” but the trip could continue and you could continue having a wonderful time  if you had a “cash stash.”  Well, what is a “cash stash?”

A cash stash is a reserve – a backup – an in case of emergency fund.  In situations where you don’t have immediate access to cash for whatever reason, a “cash stash” will be your knight in shining armor, although this stash is not under your mattress or in an old shoe box.  This stash is something that you have with you and it is readily available anytime.  This is actually an ATMCASH Card.

What’s this and how do I get one?

It’s simple; you go to ATMCASH.com, sign-up for the service and load “x” amount of cash on your card.  ATMCASH will send you an ATM card.  You will be able to use it at any ATM machine displaying the MasterCard, Maestro, or Cirrus logos just like you would a regular bank ATM card.

ATMCASH can transfer money to over 1 million countries and you can retrieve money from ATM machines around the world.

Yes, there are a number of alternatives, but the most convenient and cost-effective way to transfer cash is through ATMCASH and in this case, while you are waiting for your bank and/or credit card companies to issue new cards, release funds, etc. you will still have access to cash and can continue enjoying your trip.

This is a good back-up plan for anyone, and not just when you’re traveling.   Just remember to always put your ATMCASH card in a safe place separate from your other cards.

Are you ready to sign up now?

Go to ATMCASH.com or call 1-888-ATM-CASH and be prepared for those unexpected events.