Wednesday, March 09, 2011

HSBC Gave Me a Lousy Exchange Rate

I did a wire transfer of AUD 10,000 from my Australian to my US HSBC bank account. The exchange rate turned out as USD 0.9808 per Australian Dollar. That's about 3 cents from where the official exchange rate was. That's really bad I think. Maybe I should have done the conversion to US Dollars at the Australian end. Would that have given me a better exchange rate?

1 comment:

Anonymous said...
This is a service I have been looking to use in moving some cash back to Australia though it looks like it also works in the counter direction. May be a better bet, not sure though.