I had Chase bank wire a large amount of money to Europe in euros. The Bank representative told me that the transfer would be conducted at the market rate the next morning and that there was no commision other that the $45 wire transfer fee.
In fact they added a 4% commission to the exchange rate which cost me an extra $1,117. They explained that since they call there bank rate a "market rate" they are justified and the fine print on the back of the transfer form says that they can just about do or say anything.
If I had used my other bank, Schwab, The fee would have been $25 and I would have received the actual market rate saving me $1,142.
Beware!!! Chase lies, Cheats and Steals and they get away with it because they have a different definition for those 3 words.
Monetary Loss: $1117.