I am working in US and my family is in Mississauga. I send my money monthly once. I wire it through Bank of America. But I lose good of amount of money in conversion. Banks use consumer rate 93 cents not what we see in the paper which is 98-99 cents for a US dollar. When you send few thousand dollars we usually lose 100 to 200 dollars.
Anybody used any other method other than wiring through a main Bank. I also sometime bring the money in cash to canada. But again you have to convert them at main banks where you still lose money.
There is one more option through website like http://www.xe.com/
We can wire money through them to canadian account. I would like to hear from anybody who have any experience with them.
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Shekar
Quote:
Originally posted by shekars
I am working in US and my family is in Mississauga. I send my money monthly once. I wire it through Bank of America. But I lose good of amount of money in conversion. Banks use consumer rate 93 cents not what we see in the paper which is 98-99 cents for a US dollar. When you send few thousand dollars we usually lose 100 to 200 dollars.
Anybody used any other method other than wiring through a main Bank. I also sometime bring the money in cash to canada. But again you have to convert them at main banks where you still lose money.
There is one more option through website like http://www.xe.com/
We can wire money through them to canadian account. I would like to hear from anybody who have any experience with them.
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Dimple2001
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Quote:
Originally posted by shekars
I am working in US and my family is in Mississauga. I send my money monthly once. I wire it through Bank of America. But I lose good of amount of money in conversion. Banks use consumer rate 93 cents not what we see in the paper which is 98-99 cents for a US dollar. When you send few thousand dollars we usually lose 100 to 200 dollars.
Anybody used any other method other than wiring through a main Bank. I also sometime bring the money in cash to canada. But again you have to convert them at main banks where you still lose money.
There is one more option through website like http://www.xe.com/
We can wire money through them to canadian account. I would like to hear from anybody who have any experience with them.
Quote:
Originally posted by shekars
I am working in US and my family is in Mississauga. I send my money monthly once. I wire it through Bank of America. But I lose good of amount of money in conversion. Banks use consumer rate 93 cents not what we see in the paper which is 98-99 cents for a US dollar. When you send few thousand dollars we usually lose 100 to 200 dollars.
Anybody used any other method other than wiring through a main Bank. I also sometime bring the money in cash to canada. But again you have to convert them at main banks where you still lose money.
There is one more option through website like http://www.xe.com/
We can wire money through them to canadian account. I would like to hear from anybody who have any experience with them.
Hi San,
Can u list the other methods u have tried and the pitfalls
Quote:
Originally posted by san-hugo
Bank still is best way to send money across. yes you are right 93-94 cents is what we get best now a days. xe or other rates do not apply when you buy CADs. I have tried other means but all were rip offs. I lost atleast 2k last year due to conversions, had no other choice. Live on !
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