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maybe I'm missing something

ezrapound
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ezrapound Apprentice

ezrapound

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Ok, so maybe I'm missing something ( my wife says it's all my marbles) BUT...a couple of things come to mind here and I have hesitated for some time about bringing the subject (s) up.

   The first is that I find it incredible that any one person or group would be able to receive a better rate of exchange than another, regardless of the circumstances. The exchange rate is what it is. A bank may charge a fee or whatever, but the rate is what it is. In that vein, I remember checking with my local WF in Texas about 5 years ago and asking about that. They told me that they would exchange any currency at whatever the rate was and if I had a WF account, there would be no fee. If I did not have an account the fee would be 15 dollars. A flat rate fee.

   Now,maybe I'm wrong in this thinking, but it seems to me that any financial institution that would waver from whatever internationally set rate existed for any currency would be doing something not only illegal, but unethical as well. I can see having to pay a fee but I sure as h#ll do not see getting a different/lower rate.

Hook me up here with your thoughts folks, cause I'm just not seeing this scenario.

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easyrider Newbie

easyrider

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put it this way to whom i communicate with and no its not any gurus but bankers i will say this, the group rate is very real.  Also i wont go into detail but banks can and will give u a higher rate if and only if its to get your business.  Its ALL a money game my friend and yes i have spoken with bankers that have confirmed this to me. The banks want your business and money they scratch your back you scratch theirs.  Also their is a thing called platform trading kinda like trading futures on a certain currency that can potentially make millions or even billions this is how the banks operate.  Their are many things the general public is just NOT privy to and they like to keep it that way.  You also have to understand the banks run this world so they virtually can do what they please.  Cyprus was a prime example. Also if you are looking to get a higher rate their are contracts and certain things you must obide by under the banks terms.  Is it worth it? i just dont know but we soon shall see.

Edited by easyrider
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Bumper64 Enthusiast

Bumper64

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ezrapound,   If I alone went into bank (A) and ask them to cash me out (AFTER RV) they would give me the same rate as anyone else that walked off the street. CORRECT?

 

If I went to that same bank (A) and spoke to say the District Manager and told them that I could bring them 1000+ people that would cash in with their bank (A) you don't think they would offer me a better rate?

 

Remember, bank (A) is in business to make money and if they can make a couple percent less but get 1000's of guaranteed customers cashing out with their bank that they would not do it?

 

Example: made up numbers for this example

 

Would you as Bank (A) like 7% of 1 person cashing in?

 

-  Or  -

 

Would you as Bank (A) like 4% of 1000+ people cashing in?

 

Hope this helps

Bump

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ezrapound Apprentice

ezrapound

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ezrapound,   If I alone went into bank (A) and ask them to cash me out (AFTER RV) they would give me the same rate as anyone else that walked off the street. CORRECT?

 

If I went to that same bank (A) and spoke to say the District Manager and told them that I could bring them 1000+ people that would cash in with their bank (A) you don't think they would offer me a better rate?

 

Remember, bank (A) is in business to make money and if they can make a couple percent less but get 1000's of guaranteed customers cashing out with their bank that they would not do it?

 

Example: made up numbers for this example

 

Would you as Bank (A) like 7% of 1 person cashing in?

 

-  Or  -

 

Would you as Bank (A) like 4% of 1000+ people cashing in?

 

Hope this helps

Bump

Yeah Bump...I understand what you're saying here...just doesn't seem like that could be legal or something. Perhaps naivete on my part, but it seems like the same old story of praise the rich and pee on the poor! lol

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keepmwlknfny Newbie

keepmwlknfny

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put it this way to whom i communicate with and no its not any gurus but bankers i will say this, the group rate is very real.  Also i wont go into detail but banks can and will give u a higher rate if and only if its to get your business.  Its ALL a money game my friend and yes i have spoken with bankers that have confirmed this to me. The banks want your business and money they scratch your back you scratch theirs.  Also their is a thing called platform trading kinda like trading futures on a certain currency that can potentially make millions or even billions this is how the banks operate.  Their are many things the general public is just NOT privy to and they like to keep it that way.  You also have to understand the banks run this world so they virtually can do what they please.  Cyprus was a prime example. Also if you are looking to get a higher rate their are contracts and certain things you must obide by under the banks terms.  Is it worth it? i just dont know but we soon shall see.

Were you dipping into that hash again? Lol......

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Bumper64 Enthusiast

Bumper64

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I don't think it is so much a better rate , but a better spread. The RV rate would be what ever it is, but circumstances may allow for a smaller spread, which in effect in a round about way is a better rate.

 

  Clear as mud ?

 

pp

 

Correct   :twothumbs:  :twothumbs:

 

That was going to be phase 2 of my response so thank you for doing it for me!!  :)  :twothumbs:

Bump well said !!!

:tiphat:

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