Currency exchange for Canadian Snowbirds
As a Canadian wintering in Texas, converting $CAN to $US is an ongoing issue. It is just very difficult to escape the markup premium all financial institutions put on currency exchanges. We have tri...
Forum Discussion
ramsaymike wrote:
The Amazon card is also offered through Chase - a great deal. We have a CPP payment deposited directly into our Bank of America account. I think it is an all or nothing thing but not really sure. You just fill out a form in Service Canada - try http://www.tpsgc-pwgsc.gc.ca/recgen/dd/etranger-abroad-eng.html. It works just fine although it takes some time to get started.
I would urge everyone to know exactly what you are paying for conversion of your $CAN especially if it is at a bank. Banks do not do this for nothing even if they say you are getting a discounted rate. I know of no way to beat these Chase credit cards.
I realize that banks do not do this for nothing, but I do save a small amount on the exchange. They...including the credit card companies always make their money one way or another.
Some people might want to read some of the negative posts here http://goo.gl/J5LMDgso they are well informed before trying to save on the markup. In fairness there are also lots of positive posts.
