http://investing-school.com/fundamentals/ten-reasons-foreign-exchanges-sucks-at-a-bank/ To Learn as Much as We Can About The Complicated Subject of Investing! Tue, 17 Apr 2012 07:29:47 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://investing-school.com/fundamentals/ten-reasons-foreign-exchanges-sucks-at-a-bank/comment-page-1/#comment-19694 James Fri, 18 Dec 2009 10:14:05 +0000 http://investing-school.com/?p=655#comment-19694 This is really not fair. I work in the UK and make an income from the US, when people pay by paypal this is fine however when companies insist on paying by check my local bank charges me an absolute fortune and some occasions I have lost up to 40% of the cheques value in charges etc just for converting from $ to £'s. How can this <a href="http://www.moneyextra.com/savings/best-savings-rates.php" rel="nofollow">rate</a> be applied or even justified? This is really not fair. I work in the UK and make an income from the US, when people pay by paypal this is fine however when companies insist on paying by check my local bank charges me an absolute fortune and some occasions I have lost up to 40% of the cheques value in charges etc just for converting from $ to £’s. How can this rate be applied or even justified?

]]> http://investing-school.com/fundamentals/ten-reasons-foreign-exchanges-sucks-at-a-bank/comment-page-1/#comment-9233 MoneyEnergy Thu, 06 Aug 2009 18:40:47 +0000 http://investing-school.com/?p=655#comment-9233 This may well be true for U.S. banks - they did cause their part of the worldwide financial crisis. But it's not true for Canadian banks - not at all. I'm a preferred client and am not charged transfer fees or commissions on my exchanges - I can even do instant international money orders - something which I've learned is quite difficult to do with insular American banks which, if they do it at all, usually need three days just to "order in" the money because they outsource that service. My point is just that banking is not banking plain and simple. The business differs depending on what country you're in. As we've seen from the crisis, too... This may well be true for U.S. banks – they did cause their part of the worldwide financial crisis. But it’s not true for Canadian banks – not at all. I’m a preferred client and am not charged transfer fees or commissions on my exchanges – I can even do instant international money orders – something which I’ve learned is quite difficult to do with insular American banks which, if they do it at all, usually need three days just to “order in” the money because they outsource that service. My point is just that banking is not banking plain and simple. The business differs depending on what country you’re in. As we’ve seen from the crisis, too…

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