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Do different banks have different currency rates (dollars to Yuan) for international wire transfer?

I did a wire transfer recently with La Selle Bank in U.S. to China. After they finished the process, I found the rate was well below what I found on intenet. They said the bank decides their own rate which has nothing to do with what we see in newspaper or internet. Why is that? I felt cheated.

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One Response to “Do different banks have different currency rates (dollars to Yuan) for international wire transfer?”

  1. The currency rates should be the same. The amount they charge for processing might be different.

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