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Old 10-25-2016, 05:40 PM   #131
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Canadian dollar is 75 cents US right now.
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Old 10-25-2016, 05:44 PM   #132
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Originally Posted by thoer View Post
I've sent all the Escape wire transfer info to my local credit union. For only the wire transfer fee they'll do an international currency wire transfer to Escape's Canadian bank. Escape's accounts manager recommended this method to me, she said the exchange rate comes out much better that way than wiring it to Escape's US$ bank and having them do the exchange.
your actual wire transfer amount is in US funds (somebody else told you the US amount to wire when converted to US) ? or does your credit union convert it to canadian 1st then do the wire transfer?
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Old 10-25-2016, 05:44 PM   #133
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Much more comfortable with that method rather than sending a check through the mail and waiting, waiting, waiting . . .
It is about your comfort level. But, in our case, the wait was 5 days, from the date we sent the check, to the date Escape received it. And no wire transfer fee.
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Old 11-03-2016, 11:56 PM   #134
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Hi - thanks for the tip about EverBank! We've ordered a 5.0TA which won't be ready until the middle August, 2017. I decided to check out EverBank and it's as good as you mentioned (great security, transparency, customer service, etc.). I set up a checking account and a World Market (Canadian currency) account. You simply do an external transfer from your current bank to EverBank and then do an internal transfer to the Canadian currency account. If you're a new online customer, they make you wait 3-5 business days from the time you have money in the checking account before that money becomes available to the internal transfer. However, I found if you call their World Currency department directly, they can do the transfer to Canadian right then and there. Very Cool! We'll save up the amount needed to pay for our new trailer and then have Everbank cut a check (in Canadian dollars) when the time comes for ETI to get paid. Very slick! Thanks again!
John
Glad you found it helpful.. they are really different bank than what I see at other banks. Maybe that's why TIAA bought them. Hopefully, TIAA will merge the pro's into the bigger company.
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Old 11-04-2016, 07:30 AM   #135
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Received confirmation today Escape received our $25,000 payment via wire transfer. Easy Peasy! US Bank charged us a straight $50 fee plus a few extra little things from Escape's middle man bank (Citizens). We are beyond happy! Much more comfortable with that method rather than sending a check through the mail and waiting, waiting, waiting . . .
In our situation, we're making a series of smaller payments over time, and we tried wire transfer first. But the several processing fees imposed by financial institutions along the way was annoying. Since then, a 10 cent envelope and a $1.15 international first-class postage stamp has worked just fine for us. There is always a danger that the exchange rate might change against us while the check is in the mail for 4 to 5 days. But so far, small changes in exchange rates have actually been in our favor. We budgeted hoping for an average .78 exchange rate over time, and now, 3/4 of the way through, we're averaging closer to .76. That difference is enough to add a couple more options and still stay in budget!
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Old 11-04-2016, 08:17 AM   #136
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Originally Posted by Donna D. View Post
Canadian dollar is 75 cents US right now.
Hi: Donna D... For us the "Loonie" is still a buck and an Escape is a lot of doe!!!
What hurts is going south we must add the exchange to all purchases... even groceries. Alf
escape artist N.S. of Lake Erie
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Old 11-06-2016, 10:25 AM   #137
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Originally Posted by freespirit View Post
your actual wire transfer amount is in US funds (somebody else told you the US amount to wire when converted to US) ? or does your credit union convert it to canadian 1st then do the wire transfer?
Our credit union would do it whichever way we wanted, convert to Canadian on site then send, or send in US and let someone else convert along the way (where they may not have your best interest as their top priority). If you are afraid the exchange rate will go against you in the next 4-5 days, it would be best to convert as soon as possible. Other than that, it's pretty much a wait-and-see guessing game until ETI posts the final conversion for that particular payment on the last page of your updated build sheet they e-mail back to you.
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Old 11-06-2016, 10:41 AM   #138
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I've used XE Money Transfer for transfers of funds to Sweden... eezy peezy and now they offer no fee transfers.
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Old 11-06-2016, 02:54 PM   #139
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Credit unions are generally much better as far as lower fees.

If you add other places, such as another bank in between your money and Escape receiving it, you will have more fees as someone above found. The idea is to get your money there with as few places in between as you can because they all want their fees. Also, if you have to file a form for having more than $10,000 in a Canadian bank, that is another consideration.

We mailed cashier's checks (but we had no fee for such checks. You can send a personal check in many cases but the rate might be changing as it takes time to clear.) FedEx charges about $44 and it is there in a day if you do not want to wait for the mail. The only reason we did not use the regular mail was because the dollar happened to be starting to go against us when we made a payment, but it then went in our favor.

If you are not picking up your Escape when completed, ETI will expect to have full payment by then. We picked up and paid the last few thousand at pick-up. That was in cashier's checks. That is also a problem at the border. They may ask if you have more than $10,000 (we did not) and they are including such checks under cash, so you would have to declare them. That could delay you.

So you have to look at all of these different situations.
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Old 02-10-2017, 02:38 PM   #140
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An update for those who used Everbank:

I just completed the last exchange request from USD to CAD this week. It looks like the cheapest way to get money from Everbank to ETI is via wire for $30 USD (I was told $15 for a manual check when I signed up). And, we can request the wire transfer from the web site.. very easy.. just slightly more costly than originally planned.

p.s. remember to wire in CAD currency
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