how do money changers make money?

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how do money changers make money?

2007-09-22 10:07:58 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit

2 answers

they charge a commission or service fee.
Coinstar as an example, charges 8.9% when you use their machines to exchange coins for cash.

2007-09-22 10:18:21 · answer #1 · answered by G-man 3 · 0⤊ 0⤋

Are you talking about currency exchange? There's almost always a fee for the exchange, plus the "buy" and "sell" rates they give are a little different from each other, with the official exchange rate somewhere in the middle, so they are making a little just on the rate.

2007-09-22 17:14:08 · answer #2 · answered by Judy 7 · 0⤊ 0⤋