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Old 02-12-2017, 09:47 AM   #161
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There are a lot of variables involved in the payment process, and everyone might have access to different methods of transfers based on their main bank, credit union's policies, etc. I urge folks to explore different options.

My local credit union told me that they would be able to do a wire transfer into CAD to ETI. But when I actually tried to do it, they found out that they could not do it based on the instructions I got from ETI. EverBank, with those same instructions, have said, "no problem" and whenever I'm ready they will do the wire transfer for $30. EverBank says that they highly recommend wire payments rather than any form of bank drafts as they have sometimes seen those take very long times to process.

Kathy in ETI accounting in very helpful. She told me that she recommends wiring fund already as CAD to ETI's Canadian Bank. ETI uses a US bank for wire payments in US$, but ETI has no control over the exchange rate that US bank uses.
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Old 02-15-2017, 08:07 AM   #162
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I can report that our wire transfer from EverBank went thru smoothly. Even with Monday being a Canadian bank holiday, the transfer I initiated Monday was all cleared and credited at ETI on Wednesday.

Over the past few months, I moved US$ from the EverBank interest paying money market into their linked WorldMarkets CAD account whenever I thought the rates were good. Based on our average CAD purchase price vs the rate at the time of our wire transfer, we saved nearly $500.

Thank you to those who's posts led me to explore this option!
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Old 02-15-2017, 10:44 AM   #163
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BTW, Monday wasn't a bank holiday. It was "Family Day" in BC. It should have been named "Ski Industry" day as the resorts lobbied for second Monday.
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Old 03-09-2017, 10:30 AM   #164
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The CAD dropped to less than $0.74 US$ exchange rate in the last few days, if any folks are still interested in capturing good exchange rates.

When folks complain here about any and all price increases from ETI, I hope that they remember that ETI buys a lot of US products and that these low CAD prices mean ETI has to pay that much more for those US products.
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Old 03-09-2017, 10:44 AM   #165
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I would imagine ETI is using US$$ from their US account with dollars they've never converted to buy US supplies. Wouldn't make sense to purchase the US parts with CA $$ if people mostly send you US $$ on their trailers.
That is a really good rate today and it usually goes the other way in late March thru May. I'd send my money or payments now.
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Old 03-09-2017, 10:48 AM   #166
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I would imagine ETI is using US$$ from their US account with dollars they've never converted to buy US supplies. Wouldn't make sense to purchase the US parts with CA $$ if people mostly send you US $$ on their trailers.
That is a really good rate today and it usually goes the other way in late March thru May. I'd send my money or payments now.
Maybe. I don't know anything about Canadian business laws to know if that is allowable for a Canadian company?
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Old 03-09-2017, 11:19 AM   #167
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I'd send my money or payments now.
depending on when its due ...guessing US$ exchange rate gets even better by late June...
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Old 03-17-2017, 09:40 AM   #168
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Want to hedge currency? There are a lot of vehicles in the investment market, involving shorts and puts. Not for the novice, and not for me for sure. The "experts" play in this market every day, and for every expert that is right, there is another expert that is wrong.

If you are happy with the current exchange rate, myself, I would probably pay for the trailer up front. Realize if the Canadian dollar drops, manufacturers like Escape are likely to adjust their price up, due to the added expense of any parts and components from the USA.

If someone can predict the future, I would recommend going into the currency market and making serious money. Myself, I do not have the stomach for the risk.
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Old 03-17-2017, 10:12 AM   #169
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Want to hedge currency? There are a lot of vehicles in the investment market, involving shorts and puts. Not for the novice, and not for me for sure. The "experts" play in this market every day, and for every expert that is right, there is another expert that is wrong.

If you are happy with the current exchange rate, myself, I would probably pay for the trailer up front. Realize if the Canadian dollar drops, manufacturers like Escape are likely to adjust their price up, due to the added expense of any parts and components from the USA.

If someone can predict the future, I would recommend going into the currency market and making serious money. Myself, I do not have the stomach for the risk.
Hi - You might check this and other forums that mention "EverBank". I got some great advice and opened up an account with them in their Canadian currency "World Market". I simply put in the amount that my Escape 5.0 will cost into my new EverBank account. This effectively locks in the exchange rate at the time you transfer your dollars from your EverBank checking (U.S. dollars) into your World Market account (Canadian Dollars). When your trailer's ready, you simply wire the money (already in Canadian Dollars) to ETI. Done. This accomplishes two things: You "lock in" the favorable exchange rate, but it allows you to control your money until such a time that your trailer is ready or you, for some unforeseen reason, need to cancel your order with ETI.
Hope this helps. I know other people have accomplished the same thing using other similar investment or banking institutions.
John
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Old 03-17-2017, 02:06 PM   #170
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Good move on Everbank. I don't like surprises. Does Escape hold their pricing regardless of possible currency fluctuations?
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