How to open a currency exchange office

Earnings at currency exchange points occur on the difference in the exchange rate. Moreover, this rate is set by the exchange office itself. This business can bring up to 5 thousand dollars a month.

You will need

agreement with the bank

Instruction manual

1

In accordance with the law, only a credit institution can open a currency exchange office. Therefore, if you are an individual entrepreneur, then conclude an agreement with the bank. Such banks provide the opportunity to participate in foreign currency cash exchange transactions under their license.

2

To begin such cooperation with a banking institution, go to the bank as a manager or manager of an exchange office. You will have to take on the solution of such issues as finding and renting a room, its equipment, staff selection and employment. In relation to the bank, you will need to pay a monthly fee and comply with the established regulatory instructions of the Central Bank of the Russian Federation.

3

Choose the location of the exchange office in a large crowded area. Analyze the pricing policy of competitors in this place. An increased selling rate indicates the greatest demand for specific banknotes. Experience also shows that next to shopping and entertainment centers, more often there is an exchange of currency for rubles, but in the sleeping areas, everything happens the other way around. Lease the premises at the bank. You will need an area of ​​not more than 7 square meters with armored windows and a door, an extractor hood, fire and burglar alarms. When arranging you will need a computer with programs that control the movement of funds, a banknote detector, a safe and a banknote counter.

4

In staff you will need to issue two cashiers with a shift work schedule. Formalization should also take place through the bank. To prevent theft, install a video surveillance camera in the room. Or set a fixed amount of revenue that cashiers will have to hand over to you daily, and they will take everything to themselves that is more than that. In order to determine the size of this amount, you will need to work as a cashier for some time yourself.

how to open your exchange office