Do you pay too much?
If you exchange currencies for a company, you probably pay too high exchange rates. Most companies pay an average of 10,000 SEK too much per million SEK exchanged, without knowing it.
When you exchange currency, your bank normally adds an extra charge over and above the regular exchange rate. The size of this hidden fee is determined entirely by the bank. It can be changed at any time, and since it is not reported, you do not know how much of your cost is fees.
Many times more expensive
The mark-up may differ greatly. An exchange often has 3 – 4 times higher fee than the same transaction with another bank — sometimes even 10 times higher. There is therefore a great risk that you will pay more than your competitors.