Quote:
Originally Posted by rowan
Even if they don't explicitly charge you a percentage it will probably be hidden in the exchange rate. For example, Westpac Australia charges a flat rate to receive a wire, while HSBC charges a percentage... seems obvious which is the better deal, but if you look at the exchange rates offered by each bank HSBC's are a fair bit better. The actual amount you receive from a conversion is very similar even though one bank is (transparently) charging a percentage based commission.  |
That's why I have multiple currency accounts, only convert the currency when needed. Keep it in the original currency otherwise.
WG