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Why is ICBC's foreign exchange quotation so much lower than that of China Merchants Bank?
At present, domestic commercial banks such as Bank of China, China Construction Bank, Agricultural Bank and Bank of Communications all use EBS as the quotation source. I'm not sure where the foreign exchange quotation used by China Merchants Bank came from.

Generally speaking, the quotation sources adopted by domestic commercial banks will not be too different, but the quotation given by banks to customers is based on their own operating costs. How much to increase this fee is a matter for different commercial banks to decide on their own, and the CBRC will stipulate a general category.

So the quotations you see from different commercial banks are not exactly the same.

The staff of foreign exchange dealers tell you responsibly.