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Banks all over the world make healthy margins on cross-border transactions involving a currency cross. It is not unique to American banks at all.
by xadhominemx 3y ago
Banks all over the world make healthy margins on cross-border transactions involving a currency cross. It is not unique to American banks at all.
- newaccount74 3y agoMy EU bank charges less than 1% currency exchange fee. US banks have charged me 5-8%. It's not the same.
- xadhominemx 3y agoNo way a US bank charged you that amount unless you made the purchase in an esoteric fashion.
- newaccount74 3y agoIt was not a purchase, it was a money transfer. They converted it to EUR for me at really bad rates. It was not an explicit fee.
- xadhominemx 3y agoOk well we are talking about something else entirely -- credit card purchases with an FX cross.