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Mr Alan
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All of the banks that I know of give a better exchange rate for TC's than $100 cash. This is because there is zero chance of banks loosing money due to counterfeiting or fraud if the banks follow the ID procedures established by the TC companies. Even if the TC's turn out to be stolen, the banks still get their money for the TC’s if they followed procedures.
In this sense it works similar to the way credit cards function in that the credit card companies assume the risk of fraud if the prescribed ID procedures are followed. In fact, AMX has a new product which is an AMX TC/credit card, which you purchase in fixed amounts.
TC companies make all their profit on the float, which enables them to collect interest on the funds in-between the time you purchase the TC, and when you cash it. Companies like AMX have billions in TC outstanding at any given time, and the interest on that amount adds up to a nice profit (although not as nice as when interest rates were higher).
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Thai Girls : Meet Sexy Thai Girls
Posted on: 7:21 pm on Oct. 9, 2004
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