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Old 11-20-2011, 12:06 PM   #11
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Re: How to pay up (to Canada)

When paying for my trailer I used xe.com as my bank is a small credit union and does not do currency conversion. It takes about a month to set up the account. They are very thorough in the account activation as they are trying to prevent money laundering. I was sceptical of this service but looked them up through the Better Business Bureau to find an A+ rating.http://www.bbb.org/kitchener/busines...ket-on-1083675

For example, today the exchange rate is 1.00 US to 1.02740 Canadian. When you book the transaction, XE gives you 1.00 US to 1.0053 Canadian. If you have them send a check no addition fee are incurred. Once I booked my transaction, the check showed up six day later at Escape.

So if you send $30,000 US = $30,822 CAD, at the actual exchange rate.
So thru xe this $30,000 US = $30,159 CAD, thus xe makes $663 on this exchange.
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Old 11-20-2011, 01:53 PM   #12
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Re: How to pay up (to Canada)

Thanks to everybody for the good information so far. We had already established an XE account, but when 182king so clearly translated an example transaction into real money, we were taken aback by the fees. We didn't know previously just what kind of rate XE would charge.

Interesting also that Steve has seen a link between a bad day in our stock market and a favorable exchange rate for the U.S. dollar. Seems counter-intuitive. We'll be watching for that.

--Liz
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Old 11-20-2011, 03:11 PM   #13
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Re: How to pay up (to Canada)

Now that we have plastic money up here, we will have to get plastic wallets so we can keep our money in our pockets when swimming.

I think tat is why the Australians went for plastic bills.

On a more serious note. Just ask Tammy what the equivalent is in US to Canadian funds0, Then mail a cheque to that amount.

Let Tammy do the exchange. Canadian banks have no problem exchanging funds from any nation.

As an aside it was minus 34C when I went out this morning, so I turned on the furnace in our 19.
It is still minus 28C and with better insulation in the floor, our 19 would be very livable, but hard on the propane.

Nice thing about low temps. encourages the occupiers to move from the parks. I noticed there were no mosquitoes either.

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Old 11-20-2011, 03:19 PM   #14
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Re: How to pay up (to Canada)

We just did a wire transfer from our bank.. it probably wasn't the absolute best exchange rate, but the convenience factor was well worth it.. and then just wrote a check up there when we purchased the WDH ( they just did the exchange rate for US dollars..).. easy..
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Old 11-20-2011, 03:59 PM   #15
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Re: How to pay up (to Canada)

Hi: All...We always pay a transaction fee when exchanging money on top of the exchange rate. Then we pay again when we return any leftovers. We have taken to hiding any thats left under the ^^@!!*&$$. I always feel like a million when I wake up. Alf
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Old 12-09-2011, 10:22 AM   #16
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Re: How to pay up (to Canada)

For the benefit of anybody who is considering paying for their camper through XE Trade, we have been learning a lot about the process, and are very satisfied so far with XE. You can follow the changing conversion rates through their website (on their Currency Converter Widget at http://www.xe.com/ucc/) Right now, for example, their Widget says 1.00 USD = 1.02276 CAD. From this screen you can also "View Chart" to check out graphs of conversion rates over the past 12 hours, week, year, etc.

Once you have started an account with XE Trade, you can also click for a quick "Quote" that tells you exactly how much your U.S. dollars are worth in Canadian dollars in real time. (Right now, for example, 1000 CAD = 962.46 USD.) The quick quotes already have deducted any fees that you would pay to XE Trade to convert your money. Once you get a tempting quote, you can move on to "Book Now", and enter more details about whom to pay and by what method. Most of this information (names, addresses, your bank account info, etc.) you will have entered in advance, so it is a matter of simple clicks at this point. The "Book Now" screens do not oblige you to finish the payment. In fact, you may refresh the quote as much as you like in the "Book Now" section. Each time you refresh the quote, the XE clock counts down from 40 seconds, and in that time you get to decide whether to accept that particular quote or let it expire. It's fun to try to time your payment to your best advantage. Hubby says, "So this is what it feels like to be Donald Trump!" Hehe.

In retrospect, we should have created an XE Trade account even before putting down our deposit for the Escape, since the fee for XE services seems very reasonable, and much better than what we paid by using our credit card. Since that first credit card deposit, so far we have made three payments through XE to Rease & Tammy, and we are keeping a spreadsheet of those payments, including how much the XE fee turns out to be for each payment. The three payments have each cost between 1.5 and 1.6%, and this was with a bank draft method, not a wire transfer.

FYI, it took 7-8 days for the first XE payment to get from our bank to Tammy's desk, so that's a consideration when going to pick up your camper.

And yes, bad days in the U.S. stock market seem to coincide with good days to convert U.S. dollars to Canadian dollars.

--Liz
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Old 12-09-2011, 11:46 AM   #17
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Re: How to pay up (to Canada)

Liz,
It appears that with your experience with XE is almost identical to mine with Western Union. Either of those appear to be very good options for us US buyers.

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Old 01-24-2012, 06:01 AM   #18
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Re: How to pay up (to Canada)

Here is a tip that could help other U.S. buyers save a bit when they pay the sales tax here in the U.S. on their Escapes. Keep a simple list of each payment you make for your camper with the dates and amounts in both Canadian dollars and U.S. dollars for each transaction. Also show the total you have paid in each currency. Use this little homemade spreadsheet to request that your sales tax be based on U.S. dollars.

Our sales tax officials automatically assumed that the paperwork from Tammy was in U.S. dollars until I pointed out the distinction. Then they quickly accepted the U.S. dollars on our spreadsheet as the proper amount on which to base the sales tax. --Liz
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Old 01-24-2012, 06:28 PM   #19
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Re: How to pay up (to Canada)

Quote:
Originally Posted by rvomaha
Here is a tip that could help other U.S. buyers save a bit when they pay the sales tax here in the U.S. on their Escapes. Keep a simple list of each payment you make for your camper with the dates and amounts in both Canadian dollars and U.S. dollars for each transaction. Also show the total you have paid in each currency. Use this little homemade spreadsheet to request that your sales tax be based on U.S. dollars.

Our sales tax officials automatically assumed that the paperwork from Tammy was in U.S. dollars until I pointed out the distinction. Then they quickly accepted the U.S. dollars on our spreadsheet as the proper amount on which to base the sales tax. --Liz
That's a great tip.. we had to point out the same thing when we registered in CA.
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Old 01-24-2012, 10:04 PM   #20
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Brokerage Account To Do Foreign Wire Transfer

I wish I had the advice on exchange rates, sales tax and wire transfers before I bought and took delivery of my Escape. This entire thread is full of good ideas. I knew my Escape was Canadian tax exempt and also knew I would have to pay tax here in Wisconsin. What I failed to do was record the process in dollars. Making several payments there were a variety of exchange rates during the process. Fortunately the counter person at motor vehicles took the first rate and applied it through all the processes. Whoopee, it was the best rate for me.

Making that wire transfer was difficult. Not many banks and almost zero credit unions will do foreign wire transfers. Fortunately one of my banks was able to do it for a cost of $55. Not too bad.

Just to day I saw that my Fidelity retirement account offers foreign wire transfers. I did not know this and do not know the costs. If you have a brokerage account somewhere it may be an option to explore.
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