Thread: Charge for exchange

I recieved an email that had some interesting information.

Certain banks have been cantacted(Chase,BOA,Wells Fargo) to see what kind of charge would be incurred if and when a international currency exchange happened, specifically dinar. The banks replied that there would be no charge and that it was built into the exchange rate. It is interesting to me how the banks knew the info. about the charge being built into the exchange rate unless they have already been notified!

Also, within the same email, this person stated that the International Banks have been notified in writing the three numbers that outlined the spread of (5.04 - 5.44 - 6.38 ) and that these numbers represent how to do the exchange!

Just hoping for a little feedback!

I wouldn't read too much into this. Currency is exchanged all the time and the procedures are already in place. An exchanger probably doesn't know anything about a rate other that what pops up on the screen during an actual exchange.

Anyway it is interesting to discuss such things as we are waiting for that unannounced rate change.

You'll know for sure what the banks are making once the RV hits. Just check the CBI rate and compare it to the bank rate.