Banks always have lower rate than top rates you can get from other places, that goes without saying.
But I am amazed a bank can have a negotiated exchange rate other than the official one.... ! ?
How is that possible, their rate must be set officially on the day for all branches of a bank from the central branch, what would they put on their official paper work; "customer called so we gave him a better rate !!!!?"....
This smells all sorts of scam (for the bank, not the customer), I wonder if they call a guy from Caribe Express or WU or some other broker to come and pick up the US$ and probably take a little cut themselves... ! Sounds really unhealthy.