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Started By
Message
Exchanging currency is dumb
Posted on 2/12/19 at 12:48 pm
Posted on 2/12/19 at 12:48 pm
Got some left over Australian dollars that I'm exchanging at the bank, 100 AUS worth 70 dollars, they will offer me 55 dollars. 15 bucks goes to them for doing jack shite. Be wise and spend all your shite when you travel
20
Posted on 2/12/19 at 12:49 pm to mailman
When were you in Australia?
Posted on 2/12/19 at 12:49 pm to mailman
I have diversified holdings in banks all across the world. Maybe you should speak to your accountant.
Posted on 2/12/19 at 12:50 pm to mailman
A foreign nation's currency is less than ideal for businesses in this country?
Shocking.
Shocking.
Posted on 2/12/19 at 12:50 pm to mailman
quote:
15 bucks goes to them for doing jack shite
Probably exactly how your employer feels about you.
Posted on 2/12/19 at 12:50 pm to mailman
Better return than putting that same money into a slot machine
Posted on 2/12/19 at 12:51 pm to mailman
Invest in crypto and maybe you'll never have to worry about this ever again.
Posted on 2/12/19 at 12:51 pm to mailman
where did you exchange?
I came back with a couple hundred dollars in yen. At the airport I shook my head and walked away. Went into the city for a much more reasonable exchange rate. I get it, they have to make money charge a small fee, it's a business, but frick the airport.
I came back with a couple hundred dollars in yen. At the airport I shook my head and walked away. Went into the city for a much more reasonable exchange rate. I get it, they have to make money charge a small fee, it's a business, but frick the airport.
Posted on 2/12/19 at 12:51 pm to mailman
i've come up with a name for this
i'll call it..."arbitrage"...and it shall mean the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
i'll call it..."arbitrage"...and it shall mean the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
Posted on 2/12/19 at 12:53 pm to mailman
I keep some Euros and some CAD in my wallet at all times, including an FBI document I won't describe here. If I ever get mugged, I hope the dude thinks he just robbed John Wick and comes running back to return it.
Posted on 2/12/19 at 12:53 pm to mailman
Get a credit card with no foreign transaction fees.
Posted on 2/12/19 at 12:54 pm to mailman
quote:
15 bucks goes to them for doing jack shite.
They're exchanging the money for you and all the costs that entails, and they're in operation to make a profit, not do your arse a favor.
Posted on 2/12/19 at 12:54 pm to mailman
quote:
15 bucks goes to them for doing jack shite.
Or, you know, taking a foreign currency off your hands and giving you USD in its place.
Posted on 2/12/19 at 12:55 pm to mailman
Your face is dumb
Posted on 2/12/19 at 12:57 pm to mailman
I deal with FX contracts from time to time. They’re not free.
Posted on 2/12/19 at 12:58 pm to mailman
quote:
Be wise and spend all your shite when you travel
If you came back with 100 AUD, you obviously had no need to spend it. Is your advice that one should spend 100 AUD unnecessarily to avoid "only" getting 55 USD back instead of the 70 they feel is fair?
If I have less than 50 local currency left over from a trip, I stick it my children's piggy banks. They have all kinds of random currencies in there.
Posted on 2/12/19 at 12:59 pm to mailman
Now you see why crypto is taking off
Posted on 2/12/19 at 1:02 pm to mailman
quote:
15 bucks goes to them for doing jack shite.
Exchanging something worthless to you for something of value?
FWIW exchanging $100 in Australian dollars is such a negligible amount they probably won't make anything on the deal factoring in the paperwork and fees they have to pay. They're just doing it as a customer service.
Posted on 2/12/19 at 1:04 pm to AUCE05
quote:
Now you see why crypto is taking off
It is?
Posted on 2/12/19 at 1:13 pm to tiggerthetooth
quote:
Invest in crypto and maybe you'll never have to worry about this ever again.
Exactly.
When your bitcoin goes down 85% you'll long for the days of $15 foreign currency transaction fees.
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