Credit / Debit card fees merchants’ profits

http://www.citizen-times.com/apps/pbcs.dll/article?AID=200770920123

Transfer Money from USA to India and from India to USA - calculation

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From USA (US Bank) to Indian NRE Account (Indian Bank)
Sent $4500.00
Realised Rs.183,000
Commission: $25.00
Actual Exchange Rate after Commision: Rs 40.44
Date : Aug-2007

From NRE Checking Account (INDIAN Bank) to US Checking Account (US Bank)
Sent Rs.143,955
Realised Amount $3480.00 (US Bank put $20.00 fee)
Commision: $67.50 In Rs (commission:360+service tax:44+swift charges:1500)
Actual Exchange Rate after Commision: Rs 40.35
Date : Sep-2007
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For Easy Understanding Let us calculate for $1000.00

From USA (US Bank) to Indian NRE Account (Indian Bank)
Sent $1000.00
Realised Rs.41,455
Commission: $25.00
Actual Exchange Rate after Commision: Rs 40.44
Date : Aug-2007

From NRE Checking Account (INDIAN Bank) to US Checking Account (US Bank)
Sent Rs.42,370
Realised Amount $980.00 (US Bank put $20.00 fee)
Commision: $50.00 In Rs (commission:360+service tax:44+swift charges:1000)
Actual Exchange Rate after Commision: Rs 40.35
Date : Sep-2007


Net loss - after sending money to India and bring back to USA (42370 - 41455 = Rs915 ($23.00))

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Interesting thing is took 3 days to transact money from USA to India
Interesting thing is took 12 hours to transact money from India to USA

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