Charge cards and foreign transaction rates
Please, if you are going to comment, read the posting first. It is about a fee that is charged in addition to Annual card fees or Exchange rates. ===================================================...
Forum Discussion
Royal Bank Currency Exchange Calculator
The typical profit a Canadian bank makes on their currency exchange is 3%.
For Example, using the above calculator:
If I have $100 CDN they will give me US $89.10
If I have $89.10 US they will give me CDN $94.01
The difference in CDN $100 and CDN $94.01 is 6% Canadian or BUY at -3% and Sell at +3%.
The typical profit a Canadian bank makes on their currency exchange is 3%.
For Example, using the above calculator:
If I have $100 CDN they will give me US $89.10
If I have $89.10 US they will give me CDN $94.01
The difference in CDN $100 and CDN $94.01 is 6% Canadian or BUY at -3% and Sell at +3%.
