Fortune_Hunter - 8:48 pm on Dec 29, 2008 (gmt 0)

Can you explain how this works and what the fees would likely be for 10K or 25K dollars?

My recommendation would be to contact your bank and check to see if they have an international banking department that handles letters of credit, currency exchanges, etc. Not all banks offer these services and even if they do the terms and fees will vary.

In another life I used to work in the international department for a regional bank. I had a client that owned a steel mill and would wire back U.S. dollars to Australia every week, but convert them into Australian pounds in the process. We usually moved over 300K per week for him. His rate was much better than the business that would call us up every once in a while to move over 20K in a one time transaction. The actual exchange rate and fees we charged were very different for these two customers.