If I google the exchange rate from one currency to another, it shows a much better rate than what I would get in a bureau de change for the same amount of money. Why are these two rates so different?

Question

If I google the exchange rate from one currency to another, it shows a much better rate than what I would get in a bureau de change for the same amount of money. Why are these two rates so different?

In: 24

Answer 1

Exchange bureaus have mostly switched to a “No Fees” model.

As they have to make money to stay in business, they do this by giving a much worse exchange rate and pocketing the difference.