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Old August 30th, 2010, 06:40 PM
7x57 7x57 is offline
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First Mate
Join Date: Aug 2010
Location: DFW Metroplex
Posts: 398

I got the scoop from my bank. They get to pick the exchange from which to do the currency transaction (meaning that of the millions that they trade I will get stuck with the absolute highest transaction of that business day and they will take the arbitrage.) They then tack on a 2% foreign currency transaction fee. Friggin Banks!

It may still come out less expensive, but it will eat $20 in fees on a $1000 transaction and whatever the arbitrage eats.
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