currency exchange?
- Thread starter stang
- Start date
I found when I travelled for business there was no percentage "taken" by the bank for withdrawing funds from a foreign ATM. All I was ever charged was the exchange rate at the moment of withdrawal and the usual $1.50 fee for using another bank's machine.
If you're doing the Can$ to US be prepared to get a little hosed. The rate sucks these days......
If you're doing the Can$ to US be prepared to get a little hosed. The rate sucks these days......
I found the ATM is the "best"...gives out the day's rate...are either $20 or $50 bills...is good any time day or night (nothing like getting $800 @ 3am, lol)...all for the cheap price of $1.50-$2.00.
But stay away from strip clubs ATM, those can charge more. A big name bank ATM seems the best and watch out were you are at....3am I am at the casino not the street ATM. (doesn't mean you have to spend it at the casino, ha ha)
But stay away from strip clubs ATM, those can charge more. A big name bank ATM seems the best and watch out were you are at....3am I am at the casino not the street ATM. (doesn't mean you have to spend it at the casino, ha ha)
For small amounts you can go to the airport or foreign atm or banks. The difference is minor maybe 5 bucks.
For large amounts I found the trading arms of large banks can get you the best rates. For example the TD trading office downtown has consistently beat the brokers such as Friedberg, Cambridge xxxx......
For large amounts I found the trading arms of large banks can get you the best rates. For example the TD trading office downtown has consistently beat the brokers such as Friedberg, Cambridge xxxx......
First go and open a 'US BORDERLESS' account at TD BANK. this will give you around a 1 % bonus over the daily rate. If you changing over $ 10,000 at a time you can ask the teller to do a little better than the posted borderless rate as they do have some discretion to do a little better.
here is what today looked like (about a penny better) keep in mind the dollar has been up and down 2 - 3 cents a week so you just have to catch it on the right week. Having the us account really helps.
Non-Cash Transactions
US DOLLARS 1.2547 1.2053
CANADIAN DOLLARS 1 1
US BORDERLESS PLAN 1.2442 1.2158
http://www.tdcommercialbanking.com/tradefinance/rates.jsp
and you can compare it to scotia banks rates for the same day ... scotia is half a penny worse if you are buying US and 1.5 cents worse if you have the borderless plan
http://www.scotiabank.com/rates/fxrates.html
here is what today looked like (about a penny better) keep in mind the dollar has been up and down 2 - 3 cents a week so you just have to catch it on the right week. Having the us account really helps.
Non-Cash Transactions
US DOLLARS 1.2547 1.2053
CANADIAN DOLLARS 1 1
US BORDERLESS PLAN 1.2442 1.2158
http://www.tdcommercialbanking.com/tradefinance/rates.jsp
and you can compare it to scotia banks rates for the same day ... scotia is half a penny worse if you are buying US and 1.5 cents worse if you have the borderless plan
http://www.scotiabank.com/rates/fxrates.html
