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How do money changers make money?

How do money changers make money?

  • Answer:

    They charge a small percentage when they change money. Example: dollar is 3.10 for buy and 3.07 for sale. That means than when you buy dollars you have to pay 3.10 per dollar, but when un sell dollars, that means, change it for another currency, then you get 3.07 per dollar.

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they take an percentage or a fixed amount of your money and keep it, or they buy amounts of currency when it's low

Michel L

Hi; 1.Exchange and gain the different. 2.Send and received money from different country. 3.Money laundry. Thank & Regards; ONG aka a99mail

a99mail ONG

A small percentage gets knocked off of the exchange and goes int other changer's pocket.

rann_georgia

They charge 3% or 3 cents on the dollar to count your money...That's how.

fade_this_rally

they charge a fee for currency exchange. Then they sometimes hold the money and wait for the value to increase.

Pink

They take a small percentage of the money they change as commission.

Kuji

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