I get a normal revenue compensated via EFT in US$ to my bill each month. The cost is created on a single Friday each month. I've been getting funds such as this for ten years which means this isn't anything Iam creating but an absolute pattern I've observed and recorded:
1. Forex is definitely usually shifting up or along. I examine daily due to my revenue.
2. When forex is within an UPWARD (rand getting weaker) pattern, FNB calls me your day afterward (Friday) to inform me of the deposit. Quite simply, they eliminate the money as rapidly because they may before it rises more.
3. While fx is in a DOWNWARD (Rand obtaining tougher) pattern, it will take as much as 3 months in order for them to pay me. As long as the Rand gets tougher, they maintain my income. As soon as it begins to increase, they spend.
I calculate that within the ten years of the strategy I reduce between R200 and R500 month with respect to the exchange-rate simply because they spend me in the exchange-rate that's best for them.
Consider this across a large number of individuals and balances also it may accumulate fairly rapidly
Truly shady FNB!
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