Currency Converter - Bank of Canada

Need Advice!!! CAN resident moving to US in the next two weeks. Need to convert $$

Hi everyone, Unfortunately I'm drawing the shortest straw of all time and will need to be converting a good chunk of money ($10,000+ CAD) into USD in preparation for relocation to the US in the next two weeks. Any advice anyone may have for me? I think I'll go through a service like, but with every day my optimism of an improving exchange rate is met with a rudely plummeting exchange rate. I am with TD Canada Trust and have opened a TD Bank account as well but usually commercial bank rates are even worse..
Thanks so much.
submitted by chraisting to personalfinance [link] [comments]

Best banking setup for receiving US-source income in Canada?

Apologies if this has been asked before; I've researched a bunch of different options and finding information online is pretty frustrating. Thought I'd source the hive mind instead of spending n minutes on the phone with reps who probably won't tell me anything useful anyway...
I'm earning USD but living and spending in Canada.
Currently I have TD chequing, TD USD daily interest, and TD Bank (US based) chequing. I get $USD deposited into the TD Bank (USA) account, then I get free wire transfers to the TD (CA) USD account. After that... well, it seems my options for converting that USD to CAD are limited. I could transfer to the TD chequing account and eat the 2.5% foreign exchange fee, but I'd rather not, because this is my primary income and it would be a significant chunk of change. I could visit a TD ATM, withdraw cash, and change it at the local currency exchange at good rates, but I'd also rather not have to make that trip and carry around large amounts of cash on a regular basis. TD also charges monthly and transaction fees - not significant in the big picture, but I kinda resent paying fees for shitty banking services that don't even do what I want.
Does anyone have a set up they are happy with?
Things I've considered:
Basically I need to:
And I would prefer not to spend $50/mth in wire transfers and assorted banking bullshit. Am I out of luck?
submitted by xianny to PersonalFinanceCanada [link] [comments]

Опять нам вышло послабление - как перечислять деньги зарубеж и не платить бешенных transaction fees (by div_by_zero)

Original lj thread:
Я уже писал тут про волшебный сервис поиска LTL-перевозчиков Freightera, который позволяет мне экономить 30-50% на shipping costs по Канаде и Штатам
Сегодня хотел поделиться тем, как с минимальными затратами делать Wire Transfer за рубеж
Допустим, вам надо заплатить контрагенту в USD, притом что на Вашем счете есть только CAD
В такой ситуации, если вы пойдете в банк делать Wire Transfer, то банк отымеет вас по полной программе
Сначала, они отконвертируют CAD в USD по своей ставке, добавив 2-3 сотых процента к спотовому курсу (в свою пользу само собой) - только на этом вы потеряете пару процентов от переводимой суммы
Потом, они возьмут с вас Transaction fee - долларов 35, и еще correspondence fee - еще долларов 45
На небольших суммах, в нескольких сотен долларов, transaction fees и currency spreads легко могут вам стоить 5-10 процентов от стоимости перевода
Как это делать правильно ? Открываете счет на canadian forex ( , и привязываете к нему свой канадский счет (они потребуют от вас подписать соответствующшие бумаги, дающие им право на money withdrawal)
Потом, делаете через них FX transaction, которую совмещаете с Wire transfer. Забиваете там все обычные атрибуры (SWIFT,IBAN банк-корреспондент и т д - они поддерживают все методы).
Сам перевод при этом ничего не стоит, и у них совершенно замечательные Exchange Rates
Например, мой перевод вчера они подсчитали по курсу 0.7903, при том, что SPOT rate за день не поднимался выше 0.7969
То есть, они накинули наверное около 0.7 сотых к Spot rate, в то время, как банк взял бы как минимум 2 сотых (в 4-5 раз больше)
submitted by Reddit0r_Anonymous to toronto_ru [link] [comments]

Least costly way to transfer US to CAD?

I am US citizen but I am a minority owner (9%) in a rental property in Canada. I have a Canadian savings account.
Several of the owners, including myself, have agreed to buy out one of the other minority owners whose experiencing some health issues and I need to transfer 10,000 to the Canadian savings account to fund my share of the down payment.
However, the Forex fees are either outrageous and/or the exchange rates terrible. On the sums involved, it's not insignificant (hundreds of dollars). Any advice on transferring funds between the countries?
My local branch of my US bank is little help as they can barely figure out how to successfully wire transfer to CA. My Canadian bank is RBC.
submitted by sidsixseven to personalfinance [link] [comments]

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