Quote:
Originally Posted by Socks
So what they're charging isn't a "fee" at all, it's a profit margin.
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yes of course that's exactly what it is. and our fucking government allows it - it's rape. there is no way in hell that a bank can justify a 2.5% profit on currency exchange - it's robbery.
an analogy - i have been sent a nice birthday present by an American relative, a 100 dollar American bill inside a birthday card. I go off to the bank to exchange the US bill for Canadian money, they give me 97.50 Canadian. Oh well......... I walk out of my bank and suddenly it pops in my mind I have another American relative who is having a birthday next week and I want to send them a 100 dollar American bill in a birthday card. I go back to the teller - of course they won't give me the 100 dollar bill back i just deposited. So I ask to buy an American 100 dollar bill and I hand them the 97.50 - ohhhh, not enough, we're sorry.
and that goes on 24/7 365 days a year to the tune of billions and billions of dollars - ripping off Canadians going both ways on the same 100 dollar bill. and there's absolutely no justification for it other than the government and people let them get away with it.