Originally Posted by Minnewaska
Don't be duped by the foreign transaction fee avoidance. I can't speak for Canadian banks, but this isn't as clear as it seems in the US. Often, those that claim to have no fee will simply adjust the exchange rate and make even more and its substantially harder to tell, unless you are seriously studied on daily exchange rates. The fee can be a better deal.
I've seen this mentioned by others (well, one other responder), but wouldn't it be a case of outright fraud? Not saying you're wrong, b/c g-d knows I'm sure these banks will always do what they can to squeeze as much $$ out of us as possible. But I would think this would be a relatively easy thing to show, and would quickly result in law suits or even a class action.
Any class action lawyers reading this?