I admit that all of this is not psychologically easy. First of all you have to get past the language barrier: the heart of every transaction is not a book purchase but a currency "trade". A "beneficiary bank" is the bank that is receiving the converted funds. A "draft payee" is a person or business receiving a check in converted funds. An "EFT Bank Account" is a bank account from which you permit XEtrade to pull dollars to be converted.

Then, there is the trust thing about sending all of your personal information to a new company, as well as setting up your bank accounts to send and receive funds, but this is really no different than opening an investment account.

I recommend starting simply: use the XE.com site for calculations, then when you're comfortable and ready, move on to XEtrade, open a free account, and try a straightforward bank-to-bank wire transfer via a "Basic Trade".

I asked Steven Dengler about XEtrade's business model -- how does XEtrade make money? The answer is through the exchange rate, by charging a small amount in the spread above the actual cost of making the trade. In comparing his business to the banks and credit card companies, Steven said, "Some businesses rely upon an ignorant consumer base; we rely upon a well-informed consumer base."

We work too hard for the money we make, so we are choosing to be members of the latter, not the former group.

Renee Magriel Roberts can be reached at renee@roses-books.com.