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Old 10-08-2010, 02:39 AM  
Paul Markham
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Join Date: Jun 2001
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A question about Virtual Visa withdrawals at ATM machines.

I'm very happy and surprised to be getting anything so this is not a moan. LOL But I thought about this last night as the ATM was giving me some of my money.

The amounts you can withdraw are in 1,000s of CZ Krowns. 1,000, 2,000 and so on.

We can only draw out $320 at a time and have $400+ in there, so withdrew 4,000 CZK. And will get the other 4,000 tonight. 8,000 @ an exchange of $1 = 19 CZK = $421 which I think we will just clear. If we don't it will have to be 3,000 CZK.

7,000 @ an exchange of $1 = 19 CZK = $368.

So the bank keeps $30 to $40 of our money. Multiply that by the 1,000s withdrawing their money and it's a nice earner. Not that a bank is bothered about earning an extra half mil but not to be sniffed at.
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