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Comment by shoobiedoo | Hacker News Reader

He literally put 100USD in front of me, said he forgot to get more yen before his trip, and asked for a favor. Am I really in the wrong from your perspective?

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It would be more weird if you or your friend insisted on nickel and diming each other over a favour that would undoubtably be returned in the future.

I did something similar for a US tourist who was making me ashamed of being a US tourist. Got on a boat tour, bar is cash only, he only has dollars. I traded him something like $100 worth of yen, I told him the exchange rate, and that he was paying above it. He didn't care, he just wanted to buy some drinks

You could have given him the bill for his immediate expenses and later give him the difference. Or pay him a beer or a lunch to make up for it. I'd never take advantage of a friend in need like that.

And as you said, "it was an easy 15 bucks". You were very aware of what you were doing: easy money off your "friend", instead of friends not minding a few dollars missing here or there.

For people I am good friends with we don't sweat owing each other 15 bucks here or there because it all evens out in the wash.

Sure thing, but do you see these as "easy money" or simply doing a friend a favor?

From one George to another, this is the way. My close friends don’t bother with Venmo or the like.

I don't know what kind of friends you have, but mine take offense to being offered something they didn't ask for, like they are beggars or are owed something.

He stayed with me for a week last year. We had a big bbq. I stuffed him full of akaushi beef. I didn't ask for a dime, nor would I ever.

I guess you maintain friendships with an excel sheet handy? good for you I guess

Yes, the move to do was to take a pair of scissors to cut down the 100 dollar bill to fair market value, and give the remainder back to your friend.

Yes

If I was in that situation and I’d help my friend not try to make a buck off them when they are down.

Between electronic transfer and just settle the debt later, isn’t really an excuse…

Please explain how the situation I described is me "trying to make a buck". You're saying he regretted the terms he presented, and is forever resentful that I didn't drag him to a bank to look up the exchange rate at the time?

The economic term is "price gauging".

You charged a $15usd (~15%) fee when your friend was desperate and willing, when the standard fee for such transactions is at best 0% and worst 5%.

It very much depends on the people and the relationship. Through many years, I've swung a few hundred$+ in either direction with a bunch of people, thousands with a couple.

I much prefer zero stress - if money is tight, we just don't do expensive stuff, or steal the bill before they have a chance to pay. Mostly that means we stay cheap until we can safely cover multiple people if needed (running your safety-buffer low enough that you can't do that is a terrible idea anyway).

The economic term is "price gauging".

OP increased the cost of forex from 0-5% to 15% when his "friend" was desperate.

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