> When a bank 'converts' money for a customer, the bank ends up owning more of one currency (and less of another) than before. I mean, I guess. The might also

> When a bank 'converts' money for a customer, the bank ends up owning more of one currency (and less of another) than before. I mean, I guess. The might also even out and I'm sure the popularity of currencies is somewhat predictable. However yes--I agree with you that a fee is fine. I still think fractional banking should be enough for them to want to wave that fee, but 0.05% is fine. 5% hidden as unfavorable exchange rate that few people pay attention to is what's not fine.