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
I have a RBC US account that I can transfer funds directly from my Canadian Account. The exchange rate is not great, but way better than previous when I used my Scotia Bank debit card and credit card down south.
My RBC US account has a debit card so once the money is in that account and I have taken the hit on the exchange, there are no other fees. I can also transfer funds directly from RBC to my Chase account (with debit card) without any fees. Just takes a couple of days to clear. In other words, I only pay a reasonable exchange rate once, then after that, I have 2 separate debit cards to use without any additional fees. I am pretty happy with the way it is working.
My RBC US account has a debit card so once the money is in that account and I have taken the hit on the exchange, there are no other fees. I can also transfer funds directly from RBC to my Chase account (with debit card) without any fees. Just takes a couple of days to clear. In other words, I only pay a reasonable exchange rate once, then after that, I have 2 separate debit cards to use without any additional fees. I am pretty happy with the way it is working.
