Thanks to all whom have taken the time and effort to reply.
I tt through the bank and in an hour later was at The Exchange at city centre. The rate through the bank is 2.716 while the exchange charge 2.76 which works out to be more expensive. In addition, The Exchange will impose QR 50 on top of the remittance amount.
I am not sure if the bank will impose additional fees a couple of days later. Also not sure if my resident bank in my home country will further impose additional fees.
All our hard-earn $$ leaking away through these financial institutions. Painful.
Thanks. The bank hava assured me theirs is the cheapest in terms of cost and the exchange rate is almost the same. When i ask my peers, some gave me a look like they have never remitted money before or has been such a long time since they last do it.
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Thanks to all whom have taken the time and effort to reply.
I tt through the bank and in an hour later was at The Exchange at city centre. The rate through the bank is 2.716 while the exchange charge 2.76 which works out to be more expensive. In addition, The Exchange will impose QR 50 on top of the remittance amount.
I am not sure if the bank will impose additional fees a couple of days later. Also not sure if my resident bank in my home country will further impose additional fees.
All our hard-earn $$ leaking away through these financial institutions. Painful.
go to trust exchange in sophitel
The best thing about Exchange is that there are no hidden charges..whatever you are sending or paying to the Exchange, that is the final amount.
On the contrary, if you send thorugh bank, they can impose some "hidden" charges even after 7 days of your transfer.
I tried it once through bank, but ended up incurring much more cost than through Money Exchange !!
I find both to be similar but it would also depend upon your target currency...some currencies have relatively bigger spread vis-a-via QR.
Thanks. The bank hava assured me theirs is the cheapest in terms of cost and the exchange rate is almost the same. When i ask my peers, some gave me a look like they have never remitted money before or has been such a long time since they last do it.
At the Exchange, do they charge commission?
You can get the best rate Through Exchange.