My digital nomad life Intercam Bank 2017
Intercam Grupo Financiero is a financial group headquartered in Mexico City.
Someone recommended me its services, what motivated me to sign a contract for investment and money exchange in 2016.
The account executive required much more time to send me the contract, than the time he promised me.
Because of this reason i was a little annoyed, but after one month i was happy after receiving the contract.
Months ago, i was going to make the first transaction: i wanted to invest some US dollars in Mexico, but they wanted to charge a fee of 15 USD for cash deposit and then 15 USD for cash withdrawal.
Because of a planned trip to Asia, i opted to keep the USD and today the curiosity arrived when making the first money exchange transaction!
The JPY/USD interbank exchange rate was around 109 JPY/USD. They offered me 96.19 JPY/USD and we agreed 14,429 JPY for 150 USD.
After i gave them the 150 USD, the account executive said, that the bank only had 10,000 JPY bills and asked me if i wanted 10,000 JPY or 20,000 JPY.
I told him 10,000 JPY. Then he adjusted the exchange rate to 66.66 JPY/USD: They kept the 150 USD and gave me 10,000 JPY after promising 14,429 JPY.
My recommendation is to always ask about the denomination before exchanging money and to be careful even of internationally recognized banks :D