In the reply letter to the customers, the bank advised them to settle the matter directly with the Portuguese beneficiary bank and referred them somewhat hastily to the Ombudsman. The latter asked the bank for a precise explanation of the difference of CHF 1,500 between the debit and the re-credit of the client’s account. The bank explained that it was the difference between the selling and buying rates of the EUR against the CHF. Both rates were absolutely in line with the market. It had not made any errors in processing the payment and had had to change the EUR amount into CHF after it had been rejected by the payee’s Swiss bank and credit it back to the clients’ CHF account, as they did not have an EUR account with it. However, in view of the customers’ obvious mishap, the bank was prepared, as a gesture of goodwill, to waive the margin to which it was entitled on the currency exchanges, which represented its income from such transactions. It repaid the customers CHF 750. The Ombudsman recommended that they accept the bank’s offer. The clients followed the recommendation and the Ombudsman closed the case.