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Old 05-28-2015, 06:51 PM   #71
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Quote:
Originally Posted by gocamp View Post
What Fedex service was this? They offer so many different types.
If you are in the U.S., my impression is that International Priority is all they will do to Canada for that and you fill out a customs form.
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Old 05-28-2015, 06:55 PM   #72
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I believe you will get the best rate if you get a check to ETI and let Tammy run it through their bank. Ended up with 1.2004 last Wednesday. That left us with a whopping $4.00 credit. Canadian of course. Loren
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Old 05-28-2015, 06:57 PM   #73
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The rates have gone back in Americans' favor the last weeks.
We paid most but still watching the rates for the other few thousand.
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Old 05-29-2015, 01:28 AM   #74
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Originally Posted by sallemann View Post
Wow... the rate today to do a US to Canadian dollar wire transfer through Schwab is 1.24084. Schwab charges a $25 wire transfer fee, one of the cheapest I've seen. Even though our trailer isn't going to be ready until 2016, we'll be wiring a chunk as soon as we receive the wire transfer instructions from ETI.
Agreed, it is a great rate right now, better tomorrow? Who knows.

Another way to lock it in the USD/CAD rate w/Schwab and keep the $$ in your control is to buy the FXC :

http://finance.yahoo.com/echarts?s=FXC+Interactive#{"showPrePost":false}

100 shares = 10,000 Loonies. Just sell it when you need to write the big check.

My .02 for locking in a rate after looking into plans A.....calling the local RBC and them telling me I'd have to drive to Canada to do it and plan B
a whole slew of travelers checks.

As Donna says YMMV and as my old Bank e-mail account used to append to my e-mails......"your investments may lose value"

And, no I'm not associated with Guggenheim.......the guys offering the FXC ETF, but their Prospectus can be found here :

CurrencyShares - FXC

Good luck.
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Old 05-29-2015, 09:39 AM   #75
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I used FedEx as well and had the same cost and same positive experience as Loren.
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Old 05-29-2015, 02:54 PM   #76
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I sent two checks (or cheques for you Canadians) to ETI by US Mail, one in January and one in April. The stamp costs about $1.50. It took almost exactly a week to get to the factory (a two hour drive ). The exchange rates were 1.181 and 1.197, not bad.
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Old 05-29-2015, 04:24 PM   #77
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I just wired our first chunk from my Schwab account for our trailer that won't be ready until 2016. Schwab did the conversion at a rate of 1.23676... wire transfer fee $25 (XE - The World's Trusted Currency Authority fee would have been about $125).
A month ago, sending the same amount of Canadian dollars would have cost us $400 US more than today.
One thing to keep in mind if you're considering this approach: you don't earn interest on the funds sitting in the bank in Canada between the time you transfer the funds and pick up your trailer.
It's all a bit of a gamble!
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Old 05-29-2015, 05:53 PM   #78
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I don't follow you Salle, why would you expect interest once you pay for your trailer? Like when you order any other item, don't you pay first and wait for it to come in? thanks in advance. PS-nice conversion rate you got, good job.
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Old 05-29-2015, 06:04 PM   #79
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I think he means that one loses the potential of earning interest as the funds are gone and are in somebody else's account; in this case it is ETI who is earning the interest or gaining from the cash flow. One thing I didn't understand is the comment about XE charging a fee of $125 as I used them and didn't have a fee. Of course, they earn their money with a slightly lower/higher conversion rate (depending on which way the money is going). It is important to note that even a tiny difference in conversion rates can make a big difference on a big-ticket item like an Escape.
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Old 05-29-2015, 06:14 PM   #80
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Hey gocamp: when you put $$ in escrow, you sometimes (not always) earn interest on that. It's not that I expected to earn interest, but I wanted to know if we would or not so I could consider that in my planning. Thought others might like to know for the same reason.

Hey Karen: XE doesn't charge a fee per se... I calculated the fee as the difference in the rate XE was offering at the time I made the transfer and the rate I got through Schwab, factoring in the $25 fee Schwab charged me. And yes, you are absolutely correct that a tiny conversion rate change can make a big difference in a 20,000 or 30,000 purchase!
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