These are some general procedures which are subjected to change according to laws of different countries & states and rules set by particular hotel itself. Under the Foreign Exchange column, fill the details in the Front Office Cashier’s Report.Fill the details in the Record of Foreign Currency Transacted, which is a control sheet of all foreign currency transactions in a sheet.Leave the third copy of the certificate in the certificate book.Affix the second copy of the Foreign Currency Encashment Certificate to the Travelers Check.Provide the total amount of local currency with the original Foreign Currency Encashment Certificate to the guest.Request the guest to sign the Foreign Exchange Encashment Certificate and compare the sign with passport sign.Front office cashier requests the guest to sign the Travelers Check in case of exchanging this check and make sure that the sign is matched with the earlier signature of the guest.The Foreign Exchange Encashment Certificates come in serially numbered books for better control. Fill the details in the Foreign Exchange Encashment Certificates.Compute the total amount of local currency to be paid by multiplying the total amount of foreign currency by the exchange rate that is exhibited at the cabin.Front office cashier receives the cash or Travelers Check.If the foreign exchange is accepted by the Government then transactions are done in Dollars, Sterling pounds, Euros and Yen.In case of nonresident guest, the front office cashier directs the guest to go to the lobby manager for getting authorization who will only extend this facility to VIPs or regular guests of the hotel.Front office cashier asks the guest for room number to confirm his/her status of being resident.Front office cashier asks the guest for passport and will verify some identification from the passport, for example name and photo, place and date of issue, date of expiry of the passport.The actions or procedures which are followed are as follows: The central bank has fixed some actions and procedures which every front office cashier has to follow while receiving foreign exchange. Procedures for Accepting Foreign Currency in Hotel the balance in the folio then increases or decreases depending upon the transactions. the folio is opened with zero initial balance. the front office staff records all the transactions between the guest and the hotel on the folio. If the nonresident guests want to exchange foreign currency then they may have to go to exchange bureaus and banks to exchange their currency. folio a folio is a statement of all transaction that has taken place in a single account. Hotel will extend foreign currency exchange only for resident guests of the hotel.Central bank governed the exchange rates and the updates the exchange rate on a daily basis. The rates of exchange must be exhibited significantly at the exchange point.Foreign exchange is done only in local currency.To exchange foreign currency, there has to be authorized personnel to deal foreign exchange transactions.A hotel has to obtain a license to exchange foreign currency.Click HERE to download Premium Training manualsĪ Hotel has to follow the following steps in order to exchange the foreign currency:.Click HERE to download 300+ Training Videos.Click HERE to download Premium Housekeeping Course.Click HERE to download F and B service Course.
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