Information on Foreign Exchange - 2CO

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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