I had $68 in US currency left over from my trip, so I went to a bank (Bank of Montreal) to exchange it. The bank then gave me $72 CAN (or $1.05 per U.S. dollar). This, in spite of today's published exchange rate being $1.08 U.S.
They gave me some flimsy excuse that the published exchange rate only applied if you were buying thousands in U.S. Currency--which is a lot of B.S.
Now, when I purchased it in U.S.A. I paid the equivalent of $78 U.S., so the BMO made $6.00 on that transaction for just handing the money across the counter!
Any wonder why banks make billions in profit every quarter?
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