Comments on: Where can I get currency exchange free commission? http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/ Wed, 08 Feb 2012 19:48:57 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Kui Jai http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/comment-page-1/#comment-2055 Kui Jai Thu, 28 Jan 2010 01:18:05 +0000 http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/#comment-2055 M&S used to. The Post Office offers very good rate as well. Free commission means what you are quoted on the rate of exchange will be what you will get with the currency. But then, nothing is free in this world because you will never get the official exchange rate. They just adjust the rate you are quoted to correspond their profit margin. So, shop around. My experience is the Post Office normally gives the best deal.<a href="http://www.medicalsupplyservices.com/medical-surgical-supply.htm"> Kui Jai</a> M&S used to. The Post Office offers very good rate as well.
Free commission means what you are quoted on the rate of exchange will be what you will get with the currency. But then, nothing is free in this world because you will never get the official exchange rate. They just adjust the rate you are quoted to correspond their profit margin. So, shop around. My experience is the Post Office normally gives the best deal. Kui Jai

]]> By: rugratshd http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/comment-page-1/#comment-2054 rugratshd Mon, 25 Jan 2010 06:21:04 +0000 http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/#comment-2054 Commission free indicates you do not pay the seller any commission on the transaction. (but make sure they do not charge a 'handling fee') The answer post office etc are all correct but, you get the am ex tourist exchange rate which is not too good. The organisations obtain their money at the mid-rate, or sometimes business rate. Mid-rate is generally given when you exchange more than £500,000 in one transaction. So the post office etc buy low, sell high and make their money that way. The Nationwide Building society charges no commission for obtaining cash from foreign ATM machines AND they exchange for you at the mid rate! This means if you have a Nationwide bank account and use their debit card abroad, you get 4% more foreign currency for your pound.<a href="http://www.resumeminers.com/Job-Interview.htm"> rugratshd</a> Commission free indicates you do not pay the seller any commission on the transaction. (but make sure they do not charge a ‘handling fee’)
The answer post office etc are all correct but, you get the am ex tourist exchange rate which is not too good.
The organisations obtain their money at the mid-rate, or sometimes business rate. Mid-rate is generally given when you exchange more than £500,000 in one transaction. So the post office etc buy low, sell high and make their money that way.
The Nationwide Building society charges no commission for obtaining cash from foreign ATM machines AND they exchange for you at the mid rate! This means if you have a Nationwide bank account and use their debit card abroad, you get 4% more foreign currency for your pound. rugratshd

]]> By: the capybara http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/comment-page-1/#comment-2053 the capybara Fri, 22 Jan 2010 15:11:03 +0000 http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/#comment-2053 travel agency<a href="http://www.resumeminers.com/First-Job-Guide.htm"> the capybara</a> travel agency the capybara

]]> By: JustMe http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/comment-page-1/#comment-2052 JustMe Thu, 21 Jan 2010 12:58:47 +0000 http://www.currencyexchangemarket.com/blog/where-can-i-get-currency-exchange-free-commission/#comment-2052 Yes, the Post Office should do it (if its one of the bigger sized ones, then definitely). As for commission: If the exchange rate is £1 to $2 (which it isn't!), then if you gave them £10, you'd get $20 back (this is no commission). If they charged a commission, you might only get $18.50 for your £10.<a href="http://www.proofficesupply.com/office-supply-wholesale.htm"> JustMe</a> Yes, the Post Office should do it (if its one of the bigger sized ones, then definitely).

As for commission:
If the exchange rate is £1 to $2 (which it isn’t!), then if you gave them £10, you’d get $20 back (this is no commission).

If they charged a commission, you might only get $18.50 for your £10. JustMe

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