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.
-----------------------------------------------------------------
Shekar
Location: Western Hemisphere
Posted on: 11-09-11 12:32:23
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.
I just checked rates from TD vs. xe (the one you have suggested). Xe is at 0.99685 while TD is at 0.981. That's about penny and a half difference. Not sure why you might be facing a huge difference of 6 to 7 cents.
I deposit a USD cheque from my US bank into TD borderless account (USD account) and then convert into CAD as needed from TD borderless to chequing.
-----------------------------------------------------------------
Dimple2001
TD Border less account gives best rate. Moreover, its free if you have select serv. account. To waive the fees for select serv you need to have minimum $5000.00 in your account.
With select serv you get
-TD GOLD visa card free 1% cash back with all purchase
- Road assit free
- small safety deposit box free
- cheques, traveller cheque and drafts free
- unlimited trans..
-----------------------------------------------------------------
http://www.youtube.com/watch?v=YMVuD_in67M
E mere vatan ke logo.............
If you want to do something for our country, just dont support corruption or be part of it
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.
Sent email registered on your profile.
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.
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 !
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 !
