What are people getting for the U.S. dollar in the EU at banks?

Question

A friend of a friend said they were the only getting 50%. As in the exchange rate should be .6 Euoros but for a dollar but the banks are only giving .3 is this true?

Answer 1

If you use banks to try and capitalize on the exchange rates, you will get screwed. Because Banks take a cut of the transaction.

I remember when the Brit.Pound was $1.90. I went to the bank to get some Pounds and they transacted the exchange by charging me $2.00/pound. Thus taking $0.10/cents per pound purchased as a fee..