It’s marketing, it just means you aren’t getting charged a commission plus a marked up rate. You’re just getting the marked up rate. It all works out in the wash.
giantpunda on
It’s baked into their exchange rates. Possible other hidden fees as well.
ScruffyPeter on
Shitty exchange rates is how they make their commission.
You give them $100 AUD and expect $68 USD? Nope, it’s $66.
You give them $68 USD and expect $100 AUD? Nope, it’s $97.
13 Comments
Exchange rate spread.
Higher exchange rate instead of commission.
It’s marketing, it just means you aren’t getting charged a commission plus a marked up rate. You’re just getting the marked up rate. It all works out in the wash.
It’s baked into their exchange rates. Possible other hidden fees as well.
Shitty exchange rates is how they make their commission.
You give them $100 AUD and expect $68 USD? Nope, it’s $66.
You give them $68 USD and expect $100 AUD? Nope, it’s $97.
This is based on their rates vs using Google: https://au.lotusfx.com/#/currency-exchange/rates-today
Incredibly shit rates
Bullshit rates
So I went to one of these places and they were going to charge me $600 for $400 worth VND
None of the retail currency exchanges charge commission anymore.
At least not a separate commission.
Compare their exchange rate with others. Then you’ll see why.
they sell your data
Bad rates
Arbitrage