Have you ever noticed or checked the buying and selling rates of usd and stg and euro in your bank

For example you will see that there is a difference of about 4-7 shs per dollar buying and selling ...

putting it simply, say you want to import goods of 100000usd from Dubai , so you go to bank and buy 100k usd , so your business has started by your bank first making 4shs a dollar so even before your goods have arrived your bank has made a clean 400thousand kshs from you ?????

and since there is no cap in the margins of buying and selling forex bank makes more money than you as a importer in selling the goods

Where are we heading ?? How long will uncontrolled charges continue to hit our pockets ? who will step in to help us to have the rates lowered ??

Anyone

Only trouble is that the public does not seem well informed about this.If they did they would negotiate more and the spreads would gradually reduce until then more money to the banks!

This reeks eerily of the emotional argument people have been advancing against Safcom... You don't want to take the trouble to shop around and you luck the guts to negotiate... so you try to rouse emotions..

The bank exists to make money for its shareholders.. its not a charity to pay for the security of those dollars then give it to you for free.