best place to exchange USD > CAD

[EagerBeaver]

If you had followed my advice and gone to Calforex you wouldn't have had these issues and you would have done much better on the exchange. There has been a lot of misleading info posted in this thread, which I assume caused you to do what you did. As I said previously, a lot of people need to learn the hard way. I could have predicted that this would happen. Obviously you got hit with an exchange fee and/or a foreign transaction fee - reason why is it is one bank but two countries. Many in this thread seem to think banks are charitable institutions and they buy the large print not ever having read the fine print. In fact, they exist to make money, and many have policies on these transactions other than what is stated in this thread. But I am not going to complain because these attitudes keep me in business. I have watched as my own clients, like you, didn't follow my advice and then had to come back and pay me more when they found out about things the hard way. This is what makes the world go round. It's human nature sometimes to think you know best and then find out hard and brutally that you don't.

By the way it closed at $1.38 today. You were probably quoted the correct rate. What didn't get quoted was the hidden fees.

 

[Thor Jr]

Well i did have it in my best interest to follow your advice, but i was in Laval and calforex is downtown, and have you seen the weather lately? It would cost me more in gas and aggravation to drive downtown today. Ill go to the casino tomorrow, i was going there anyway. im sure ill get a better rate there. Thank EB for all your wonderful wisdom.

Hey EB, every time i read your posts i cant help but think of Archie Bunker....:lol: Anyone else get that vibe?



Thor Jr

 

[EagerBeaver]

Hey EB, every time i read your posts i cant help but think of Archie Bunker....:lol: Anyone else get that vibe?
Thor Jr

Actually Archie Bunker is the kind of guy who would think that the United States and Canada are just one country for banking purposes. Like someone else we know.

NOT!!!!!!!!!!!!

 

[pokerpro]

So, i went to the bank to day and asked for the rate and the teller tells me 1.41, i said ok, transfer this amount from my US account to my Canadian account, so asks if i want a receipt, i said yes, i look at the receipt and it shows the amount it didn't seem right and i looked at the exchange rate and it says 1.35, i say, um did the rates change since 2 minutes ago, i showed her the rate and she said oh well its how it works, she turned the screen towards me and punches a few keys and what i saw was 1.41889, i said ok, so this is the problem, she says i don't understand,

There is always two rates, different depending if you are buying or selling. She was confused and told you the wrong rate at the first time.

For example, let's say you call an agency and ask for a skinny girl . The booker has two girls, one is 100 pds and the other one is 125 pds.
The heavier one is 25% more heavy (125 divided by 100 =1.25).
The smallest one is 20% lighter (100 divided by 125=0.80).

That's why we see rates, for example like this :

1 US dollar= 1,25 Can dollar
1 Can dollar= 80 cents US

 

[Rusty Staub]

LOL
I've done it last week with US money i've won in Vegas last summer !
A few years ago there was a National Bank counter Inside the casino where you could sell your US dollar to get canadian dollar and you could also with canadian money buy american currency.

Now they do it only one way, you go to the cashier's cage and convert your us money for canadian. They will not sell you US currency though.

Thanks for clarification

I usually make the casino my last stop before driving back to States and am looking to convert from CAD > USD (assuming I have not gambled it away)

As you stated they stopped offering this service when the bank left the casino

 

[Famous Blue Raincoat]

Sharif Exchange on Cote-Vertu just beside highway 15. Usually you pay 0.01 to 0.015 more
Example to buy USD at 1.3849 you will pay 1.395.
Example to sell USD at 1.3849 you will receive 1.37.
No other fee and you could get the rate on there website
http://www.sharifexchange.ca/

Of course it's always a question of distance, time and gaz but for me it's on my way to work.