Bureau De Change - egnahC eD uaeruB - Bureau De Change

ranDom_tAsk

My mother went to our local Bureau De Change in the Square to change £10 Sterling into Dollars.

It sounds simple enough but no, they changed the £10 to Euro @ .732500 (rate) - which gave €13.65 - €1.50 (commision) = €12.15c

Then they sold her $15.00 @1.313200 (rate) - which cost €11.42 + €1.50 (commision) = €12.72c

Which leaves a balance of €0.77 to pay, but she only gave in £10.

I don't think this is right, why can't they just convert the Sterling to Dollars ?

It cost €3.00 - €0.77 = WTF ?

nlgbbbblth

ranDom_tAsk wrote:

My mother went to our local Bureau De Change in the Square to change £10 Sterling into Dollars.

It sounds simple enough but no, they changed the £10 to Euro @ .732500 (rate) - which gave €13.65 - €1.50 (commision) = €12.15c

Then they sold her $15.00 @1.313200 (rate) - which cost €11.42 + €1.50 (commision) = €12.72c

Which leaves a balance of €0.77 to pay, but she only gave in £10.

I don't think this is right, why can't they just convert the Sterling to Dollars ?

It cost €3.00 - €0.77 = WTF ?

Because this is Ireland: neither sterling nor dollars are "our" currencies.

she could convert sterling to dollars in the UK
she could convert dollars to sterling in the US

EKRIUQ

Thats how they make teir money on the commission, Because the amount is so small the commision charged is a large percentage of the transaction, If she changed $100 I'm sure the commission would be the same.

Why not wait and change the money in America!, (sorry strike that last comment, Banks in America are even bigger rip off artists than here)

ranDom_tAsk

She's sending the cash over to the US to my uncle for him to post back cigarettes :rolleyes: , I just can't understand why they didn't just transfer the sterling into Dollars, but I suppose that's how they make there money.