Hi, so in my city the exchange rate is something that everybody knows about (I live on the border to US). There are exchange houses in every corner.
Naturally, banks offer a higher exchange rate than exchange houses. But I recently found out of a “special exchange rate”.
It goes by different names depending on the bank. If you want this exchange rate you have to ask for it and sometimes (depends on the bank) get special clearance from the branch manager.
I can easily and legally get the clearance needed, my question is: Is there anything I should be worried about if I just go bank to bank using this special rate and going back to exchange houses every week?
I can make pretty good money doing this.
It’s technically just Economic Arbritage, what am I missing here?