Quote:
Originally Posted by LivinLOS
This prompted me to come up with the following.. I can pull some amount per day out of my visa based ATM, not sure but I think its 500 GBP (platinum visa) would have to ask them to know for sure.. So I pull 500 GBP per day at onshore rates.. Once a week I send money to my account that the visa debits.. This converts back from THB to GBP at offshore rates.. Just for arguments sake lets say that the offshore onshore differential was 10% (its shrunk somewhat)..
So you mean I can make 350 GBP per week (ignoring bank wiring costs and ATM fees) simply by going to the ATM 7 times and the bank once.. Thats like >2500 USD a month for 10 mins work a day..
You gotta love arbitrage ops..
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And maybe this IS possible, but for blokes/dudes like me, we get creamed along the way. Yes, I spotted the arbitrage opp as well but, you can only go so far. It seems to me that only CitiBank and their affiliates (transfer agents) have the corner on this type of opportunity. If you know different, then I am all ears...