Quote:
Originally Posted by Mike L
Sorry to labour the point, but just because they "don't charge a commission" it doesn't mean you are not paying them to convert the currency. Whether they call it a commission or whether the fee is covered by the exchange rate loading, they are still taking a cut.
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Precisely. Currently exchange is a commercial transaction; you always "pay" for it, whether it be as an explicit charge, or as a poorer exchange rate. There ain't so such thing as a free lunch, as someone once wisely commented.