Currency Exchange Negotiable?

Discussion in 'Forex' started by mikey30, Apr 13, 2007.

  1. mikey30


    Hi I was wondering if anyone could tell me whether it's possible to negotiate for a better currency exchange rate when exchanging money at a bank/currency exchange location. I have heard that if we trade large amounts eg(25000$ and up) the bank will give a "special" rate. Do the smaller currency shops do the same and how should I go about initiating the conversation/negotiation?

    I usually go to the Vancouver Bullion Exchange in Vancouver and when I ask them over the phone about whether the rates are negotiable, they always answer no... but when I go to the store in person they usually offer a free(I didn't ask) 0.0002 off .. especially if I take a cheque instead of cash.

    Does anyone have any advice or more information to clarify this ? Thank you in advance! :)