A Costly Calculation

I find myself singularly unimpressed by the technical competence of the world's financial market. I recently purchased plane tickets for an international flight and was surprised to see a $50 "transaction fee" on my bill from British Airways. Admittedly, I live in the United States and I was buying tickets from a British carrier, but still, a $50 charge for an automated electronic calculation that converts dollars to pounds? I understand that credit card companies are now doing the same thing. The problem that I have with this is that there's no intrinsic cost associated with the transaction — no time involved, no physical goods changing hands, no people involved. It's just plain and simple digital robbery.



Comments

No comments yet. Be the first.



Leave a Comment

Comments are moderated and will not appear on the site until reviewed.

(not displayed)