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Payment terminals can offer whatever currency exchanges they want, but usually it's just a way to fleece you on the spread, nobody is doing you any favors, it's
by vasco 1y ago
Payment terminals can offer whatever currency exchanges they want, but usually it's just a way to fleece you on the spread, nobody is doing you any favors, it's just that whoever in the chain gets to perform the exchange gets to set the fees and the spread and most people get confused by currency exchange so it's in every middle man of the chain's interest to be the one to perform it and get the spread themselves.
- guappa 1y agoWhile currency exchange offices are honest and fair?
- ses1984 1y agoThat’s not the alternative, the alternative is to let your bank or credit card processor handle the exchange instead of the terminal operator.
- chithanh 1y agoIf you use your bank's rate by paying in foreign currency then this is usually fair, at most they will add a 1% foreign currency transaction fee. When it comes to exchanging cash, avoid currency exchanges at places like airports, tourist hotspots, etc. as they will usually offer worse rates than elsewhere.