Crimper. Seriously. I never claimed your bank made a mistake. They didn't. I claimed, and rightfully so, that YOU made a mistake. You were proven wrong in this very thread on that specific transaction. In case you missed it, here is the carefully documented rebuttal to your "proof" that I posted for you and others several pages ago... --- SNIP --- Crimper's wife, for instance, was charged about 2.5% (250 basis points) by the very same bank based on the exchange rate for the day she converted CAD to USD, and the Client Buy rate for USD displayed right on the receipt that Crimper posted here. The details of his wife's transaction are: For April 8, CAD/USD exchange rate was about 1.043 (previous day's close) which equates to USD/CAD -> 0.959. I could have used the current day's average exchange rate instead, but 1.043 fell within that day's range, so it's perfectly applicable. Her funds were exchanged at a rate of 0.985, which means she was charged a conversion fee of 0.985-0.959 = 0.026. That's 260 basis points, or 2.6%. With the fee, US$680 x 0.985 = CAD$669.80, which was debited from her account. With no fee, US$680 x 0.959 = CAD$652.12, which did not apply here. The receipt clearly shows she was charged the higher amount -> she was charged a 2.6% conversion fee. Again, ScotiaBank does not convert for free. The math doesn't lie. The fact that Crimper hasn't figured this out yet shows that a few people in this forum are clearly misinformed on how to apply exchange rates and conversion fees to the real world. No tricks, folks...no smoke and mirrors. Just simple math. --- SNIP ---
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