Support Center

Information on Foreign Exchange - 2CO

Last Updated: Jul 30, 2014 01:54PM AEST

A message from 2Chekcout: 

Our exchange rates are updated daily. 2CO receives quoted rates from
its currency partner once a day. These rates are based on inter-bank
rates (only available to the largest international banks purchasing
currencies in quantities of $1million USD or more) and include a
calculated value of the costs of hedging, currency conversions and
foreign exchange activities needed to guarantee the rates throughout
the life cycle of the transaction. These guaranteed rates are used to
calculate the USD settlements as well as refunds and exchanges.

Comparing rates from different information sources such as newspapers
or online news sites is misleading. Foreign exchange rates vary from
source to source depending on their origin, update intervals and many
other factors. More over, such rates are usually valid for indication
purposes only.

A more applicable comparison is with currency exchange rates and fees
used by credit card companies and Issuing banks which average from
2-8% over the standard Inter-bank rate. The prices available for
customers through our service will be the same (or lower) than the
price they would pay when purchasing

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