Why does the Federal Reserve have a differant rate of exchange to the bank and its always lower. I have a C.S.check from the USA to England but the rate of exchange is based on the Fedral reserve which is always much lower and consequently the children loose money . Why is it so differant?
Federal Reserve - Different rate of Exchange?
How is this possible ?
If the check is in Dollars, then why not take it to any UK Bank that offers a better conversion rate ???
If all else fails, open a Dollar acccount, pay in the check withdraw it as Dollars and take the cash to a UK Bank ...
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