Foreign Currency

Years ago I used to write software for the Amiga computer (alas a dead platform now, years of software development have counted for nothing as no-one uses them these days except as a novelty).  The programming came about simply due to the fact that software was needed to do certain things, but it didn't actually exist.  A lot of my software is still out there today, for instance see the aminet comm/fido directory

Back in the early 90s shareware was a burgeoning industry, and had I been programming for an IBM PC I probably would have made twenty times the amount I did get from some very conscientious and generous users.

At one point I got a cheque from a guy in USA.  (Well, he'd spell it "check").  It was for $US35 and I proudly took it along to the local branch of the bank.  "Ah," the teller said, "It's drawn on a non-Australian bank and in foreign currency - I'll just check to see how much we'd charge to negotiate that."

He came back and the fee would have been about $AUD45.  Given the current exchange rate I would have gotten about a net payment of $2 had I banked the cheque.

Fortunately I was able to contact the guy who sent the cheque and let him know the story and he mailed me over some actual US banknotes which are always good in any country!  The fee for converting them was only a small percentage of the face value, and it made it well worthwhile.

One thing has changed: we'd get a lot more Australian dollars now for US dollars.

One thing hasn't changed: bank fees are still ridiculously extortionate.

Mind you my transaction account has been with a building society for going on fifteen years now.