Party's new foreign exchange rates

[pyedog]

So party is giving 1.158 for USD to CAD conversion today. The true rate closed at 1.168 last night, so it looks like they're taking 1% off yesterday's closing rate for the new conversion fee.

Can a 1% exchange rate deduction be beaten anywhere online or in major banks? I'm assuming that 1% is less than Neteller and real banks are charging. I do feel pretty dumb for not cashing out more of my bankroll when Party was handing out 1.20 on the exchange like suckers.

Are you guys saying that they used to offer a higher exchange rate for deposits than for withdrawals? So that people could actually make money on the exchange simply by depositing and then withdrawing? If so then maybe people were abusing that feature and this is why Party fixed their glitch. I know that I was using Party as my main online bank account and doing all cashouts through them but I assumed they didn't care too much because they're still earning tons of interest on the money sitting in my account.