It’s reckoned that 80% of SA’s R4.6 trillion GDP has a forex component, meaning money that either flows into or out of the country. This is a gold mine for the banks, since they get to toll most of this money each time it moves. The five major banks – FNB, Standard Bank, Absa, Nedbank and Investec – are believed to make a combined profit of R15 billion a year from forex. Smaller clients are paying 2-3% in forex transaction costs, which explains why newer entrants charging 1-1.
“Our proposition is that we will give you a better rate than the banks, sometimes as much as 50% better, and our fees are transparent and once we have agreed on a pricing structure, we will stick with it. For companies and individuals that transact frequently in forex, that’s a huge saving over the course of a year.” The opacity in forex costs works to the advantage of the banks.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
THE FINANCE GHOST: Think B2B — like Bidvest — to beat inflationThe JSE’s few true industrial shares are proving handy stock picks in our weak consumer, high inflation world
ソース: FinancialMail - 🏆 20. / 63 続きを読む »