Currency conversion for Canadians

[almcc]

I thought that I would provide the web link below to an item on CBC news about getting better conversion rates when buying US$ than you get from your local bank.

Apparently Knightsbridge charges 50 basis points (0.5%) to do the conversion compared to the bank's 250 to 300 BP (2.5% to 3%).

I don't know what the Canadian snowbird association's rates are.


web link

[63-Coupe]

That's good to know. I also use my Amazon.ca VISA card almost exclusively in the U.S. because it is about the only card that does not add the 2.5% to 3.0% on to foreign exchange. Even if you have a premium card like a TD Infinite card for example, they still charge that extra percentage. It usually does not show as a separate fee, it is buried in their exchange rate, but it is there.