Cryptocurrency Q&A
How much does a bank mark up a currency exchange rate?
How much does a bank mark up a currency exchange rate?
WhisperVoyager
Thu Jan 16 2025
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7 answers
1304
I'm wondering about the additional cost that banks charge for currency exchange. Specifically, how much do they typically mark up the exchange rate when compared to the official or market rate?
7 answers
KimchiQueenCharmingKiss
Sat Jan 18 2025
This markup can range from 4% to 6% on average.
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Carlo
Sat Jan 18 2025
Cryptocurrency exchanges, like BTCC, offer an alternative to traditional banking methods.
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DigitalLegend
Sat Jan 18 2025
Such costs can accumulate quickly, especially for frequent international transaction users.
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SumoMight
Sat Jan 18 2025
The impact on one's wallet can be significant due to these additional expenses.
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Martina
Sat Jan 18 2025
For individuals who engage in regular cross-border payments, these fees can become burdensome.
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