USD to CAD - Which bank gives you the best rate? - GoFuckYourself.com

x582 · 10-14-2009, 05:09 AM

This is my experience today.

For a $3,326.99 USD transfer

Royal Bank
$3,346.95 CAD (Rate 1.0059)

HSBC CANADA
$3,384.38 (Premier Rate 1.0172)

HSBC UK
$3,399.07 CAD (Premier Rate 1.0217)

That's one hell of a difference I think. This was a small transfer I was doing, but it sure adds up. There is about a 1.5% difference in the rate from HSBC UK and Royal Bank. That's huge! You would think that the Banks in Canada would give you a better rate eh?

JayDeeZee · 10-14-2009, 05:14 AM

Ugh! It hurts to look at those numbers. Back in may it was 1.22

Phoenix · 10-14-2009, 05:38 AM

sucks today td is offering 1.0086

what the fuck...come on usa...get the numbers back up

SpyCam · 10-14-2009, 05:59 AM

tomorrow the rates will be different, you can try playing in forex, haha

rowan · 10-14-2009, 06:44 AM

Make sure you find out all of the fees involved. For example, my "main" bank has a slightly worse conversion rate but charges a flat fee of a few bucks to receive a wire. My second bank has a better conversion rate but also charges a percentage based fee.

Some banks also update rates multiple times per day so they don't have to work in so much contingency into their rate.

Pipecrew · 10-14-2009, 08:05 AM

you should be going CAD to USD. coming to par happens very rarely. The USD will always rein supreme.

JayDeeZee · 10-14-2009, 08:14 AM

Quote:

Originally Posted by Phoenix

sucks today td is offering 1.0086

what the fuck...come on usa...get the numbers back up

The good thing is that our Canadian Economy is doing very well as a whole.

Bomber8888 · 10-14-2009, 09:11 AM

Ouch.. thank god i transferred at 1.25 6 months ago

WiredGuy · 10-14-2009, 09:15 AM

You should ask an FX broker, not a bank. I use Custom House, they guarantee they'll beat all 5 national bank rates. Be prepared for a ton of paperwork though

WG

cyberpunk · 10-14-2009, 09:24 AM

I usually just use TD since my accts are there. They have a borderless acct that usually gives almost 1% better then the regular rates.

cwd · 10-14-2009, 09:31 AM

IMPORTANT: That rate can be negociated with the bank if you have a big volume.

I even asked my bank to pay me back for the last 10 months when I negociated my new rate. They did it.

10-14-2009, 05:09 AM	#1
x582 Confirmed User Join Date: Mar 2002 Location: heh? Posts: 609	USD to CAD - Which bank gives you the best rate? This is my experience today. For a $3,326.99 USD transfer Royal Bank $3,346.95 CAD (Rate 1.0059) HSBC CANADA $3,384.38 (Premier Rate 1.0172) HSBC UK $3,399.07 CAD (Premier Rate 1.0217) That's one hell of a difference I think. This was a small transfer I was doing, but it sure adds up. There is about a 1.5% difference in the rate from HSBC UK and Royal Bank. That's huge! You would think that the Banks in Canada would give you a better rate eh?

10-14-2009, 05:14 AM	#2
JayDeeZee Confirmed User Industry Role: Join Date: Aug 2006 Posts: 3,595	Ugh! It hurts to look at those numbers. Back in may it was 1.22 __________________

10-14-2009, 05:38 AM	#3
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	sucks today td is offering 1.0086 what the fuck...come on usa...get the numbers back up __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

10-14-2009, 09:11 AM	#8
Bomber8888 Confirmed User Join Date: Mar 2004 Location: Toronto Posts: 1,444	Ouch.. thank god i transferred at 1.25 6 months ago __________________ Icq - 403858640 bomber.jason AT gmail dot com

10-14-2009, 09:15 AM	#9
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,461	You should ask an FX broker, not a bank. I use Custom House, they guarantee they'll beat all 5 national bank rates. Be prepared for a ton of paperwork though WG __________________ I play with Google.

10-14-2009, 05:59 AM	#4
SpyCam PoiSEO.com Industry Role: Join Date: Apr 2001 Location: PoiSEO.com Posts: 1,201	tomorrow the rates will be different, you can try playing in forex, haha

10-14-2009, 06:44 AM	#5
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Make sure you find out all of the fees involved. For example, my "main" bank has a slightly worse conversion rate but charges a flat fee of a few bucks to receive a wire. My second bank has a better conversion rate but also charges a percentage based fee. Some banks also update rates multiple times per day so they don't have to work in so much contingency into their rate.

10-14-2009, 08:05 AM	#6
Pipecrew Master of Gfy.com Industry Role: Join Date: Feb 2002 Posts: 14,885	you should be going CAD to USD. coming to par happens very rarely. The USD will always rein supreme.

10-14-2009, 09:24 AM	#10
cyberpunk Confirmed User Join Date: Feb 2001 Posts: 1,377	I usually just use TD since my accts are there. They have a borderless acct that usually gives almost 1% better then the regular rates. __________________ POST NO ADS!

10-14-2009, 09:31 AM	#11
cwd Confirmed User Join Date: Feb 2006 Location: In a dream Posts: 1,955	IMPORTANT: That rate can be negociated with the bank if you have a big volume. I even asked my bank to pay me back for the last 10 months when I negociated my new rate. They did it.