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Old 04-28-2015, 09:42 AM   #51
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We opened an account at RBC. We live in the US near the border. It cost nothing to open or deposit money. You do need to personally deposit the money. Just write a US check and wait 15 days to clear. The account has both a US dollar and Loonie side. You do not get the exchange rate as the bank has both a sell and buy rate. I transferred $10001 a couple of weeks ago when it was .794 and got .816 and another $10001 this week because the trend has been up at .814 and got .842. I'll sit and wait to see what happens on the last $5001 I need to bring across.

Here are two good web sites to help educate yourself:

https://www.nbc.ca/content/dam/bnc/e...ysis/forex.pdf
XE.com - CAD/USD Chart
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Old 04-28-2015, 05:48 PM   #52
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People who owe Escape in the next months might want to look up the charts as to how the U.S. dollar has risen tremendously against the Canadian dollar in the last year and is now dropping. Of course, it may go right back up in the next months and could then be up over where it was a couple of weeks ago.

We did not know when ordering last October and the rate was in our favor at .11 that it would go to .20 (now dropping from that). As an example, that is a gain of nearly U.S. $5000 on $$25000. Our Escape will be several thousand more so we are gaining quite a lot. That may or may not last. We sent a cashier's check (no charge by our bank) on a Saturday by Fedex ($44) which was received on that following Monday.
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Old 04-28-2015, 07:23 PM   #53
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The CAD is indeed rising, and a price increase from Escape is just around the corner as well. If it were me as as U.S. Buyer. I'd strike while the iron is hot.
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Old 04-28-2015, 07:33 PM   #54
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Quote:
Originally Posted by dbawden View Post
We opened an account at RBC. We live in the US near the border. It cost nothing to open or deposit money. You do need to personally deposit the money. Just write a US check and wait 15 days to clear. The account has both a US dollar and Loonie side. You do not get the exchange rate as the bank has both a sell and buy rate. I transferred $10001 a couple of weeks ago when it was .794 and got .816 and another $10001 this week because the trend has been up at .814 and got .842. I'll sit and wait to see what happens on the last $5001 I need to bring across.

Here are two good web sites to help educate yourself:

https://www.nbc.ca/content/dam/bnc/e...ysis/forex.pdf
XE.com - CAD/USD Chart
I wonder why nobody thought of that before. What a great idea.
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Old 04-28-2015, 08:05 PM   #55
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Originally Posted by rbryan4 View Post
The CAD is indeed rising, and a price increase from Escape is just around the corner as well. If it were me as as U.S. Buyer. I'd strike while the iron is hot.
You must have had a very good rate even if you paid earlier than when you picked up.

The catch with opening an account at the RBC is that you have to make the deposits in person. Kind of wipes out the advantage for most if one has to go up to Canada to do it!
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Old 04-29-2015, 07:59 AM   #56
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Originally Posted by Floating Cloud View Post
You must have had a very good rate even if you paid earlier than when you picked up.

Yeah, we did pretty good. Our net rate was about .802
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Old 05-20-2015, 12:13 PM   #57
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Someone said earlier in this thread that banks will charge an almost 5% fee to change currency. Looking into that, this might apply only to when you want actual cash in a foreign currency. So I'm wondering when you're transferring money to ETI, do we still have to pay that 5% fee or do the banks have a reduced fee for this scenario? What was your experience on that?
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Old 05-20-2015, 12:19 PM   #58
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Might have answered my own question. Should have read a little further before posting the above question. I found this in another thread "I spoke with Tammy about this and yes they do have an American bank account. I think she said with Citizen bank. We can deposit the money into that account then she can move it. She indicated that she was getting a very good exchange rate.". So my understanding is that if we use this process there will still be a fee, but it's marginal compared to the 5% bank fee.
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Old 05-20-2015, 03:02 PM   #59
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money transfer

Don't forget to check with brokerage accounts as well. Ours did an EFT to the Escape account for free. Then the Escape bank did the conversion which includes their fee.
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Old 05-20-2015, 04:00 PM   #60
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exchange fees

Last year we used a credit union card, visa or master card for our purchases the CU did not tag on extra. This year with no CU card I called our Wells Fargo, their card would add about 3%, American Express also about 3%. Our Fidelity Visa is only 1%. A lot of places will just have take cash, including Escape for their work and I'll have to just accept the exchange rate. Is that OK Tammy?
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