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Old 04-06-2016, 11:25 PM   #71
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We had the same issue after we ordered our trailer last Friday. My first thought was to send the money to relatives in BC and have them change it and store it in their bank until needed. Fortunately, I'm married to a very smart woman. Her first thought was "call Morgan Stanley (our broker) and see what they can do". What they can do is buy CAD at the current exchange rate and hold the money for us in a CAD account, with wire transfer to ETI as needed. The cost to us is 3 basis points (0.03%, or about $9), which is about 1/25 of the next cheapest cost I found. The downside is that the CAD account will pay pretty close to 0% interest but since USD cash accounts are paying practically nothing anyway, who cares.

We are long term good customers of this broker, so I suppose that could make a difference in what he is willing/able to do for us.

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Old 04-07-2016, 09:22 AM   #72
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We used the credit card for the deposit with the initial order, and then to pay the miniscule balance due when we picked the trailer up. In between:
Since liquid funds earn almost no interest, we elected to send a couple of big checks to ETI, whenever we saw the exchange rate moving up in our favor. The result was that ETI had the use of those funds for several months, and we were fine with that. Why should the banks get the float, when Reace and Tammy could.

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Old 04-07-2016, 09:36 AM   #73
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I had a pleasant surprise when I called our local credit union and was connected with someone with lots of experience. They ultimately reduced the stated international wire transfer charge for me and figured out how to transfer directly to ETI's Canadian bank in CAD. My credit union said that they can make the wire transfers immediately, as I call in to them. They did stress that there is no way for them to get the "official" exchange rate you see listed on financial sites as those are only available to some sorts of high level bank transactions ( I didn't ask for a complete description - sorry)

I also spoke with Kathy Davis the Manager of Accounts Rec/Payable at ETI who said based on what she has observed in payments coming thru, that paying the higher wire fee to have funds transferred in CAD was more than made up for in savings of not using their US bank as intermediary.

And Kathy, like everyone I have ever dealt with at ETI was amazingly helpful!

PS I totally agree with your last sentence Don and Teresa
Eric (and Mary who is in no way responsible for anything stupid I post)

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Old 04-07-2016, 09:59 AM   #74
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We just setup an account at for free, took about 10 minutes. Put our bank info in and ETI mailing address as recipient. You can accept their rate when ready or make them a offer of what rate you want. When accepted offer they pull the money out of ur account, convert to CAD at accepted offer rate and Mail a check to ETI in CAD. ETI would receive the check in about 4 days. Best part is there was never any fees for any of this and it is so simple.
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Old 04-07-2016, 12:55 PM   #75
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There are clearly several ways to do this. I just spoke with Vanguard, where I already have a brokerage account. It is simple to buy the FXC ETF and hold it for however long, and when ready to send a payment to ETI, simply sell shares of FXC and Vanguard will send a wire transfer for the amount in CAD to ETI's bank account. Vanguard does the conversion at the current rate and does not charge a wire transfer fee. Vanguard also has a voice authentication verification service, which expedites the process.

From speaking with ETI, I get the idea that for 2017 Escape orders, they only want to receive the deposit in 2016, and not receive payments on the rest of the balance due until 2017, or at least until closer to the production date. So this is a way to get the USD-CAD rate now by purchasing FXC, and holding for a future transfer date. Since FXC has an annual cost of 0.40%, this will cost about $100 for the price of an Escape trailer (less the deposit) to wait until 2017.

Of course the USD-CAD will change in the future, so will it be more favorable to USD holders in the future? Who knows?
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Old 04-07-2016, 07:21 PM   #76
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Originally Posted by StanLewis View Post
...The cost to us is 3 basis points (0.03%, or about $9), which is about 1/25 of the next cheapest cost I found. .
Wow, 3 basis points.. that's like no fee. but i'm sure they are making in other wealth management areas

Inspired by you, I did some additional search for US banks that offer foreign currency accts. To my surprise, there's a handful of them now! I'm glad we are making progress as a country.

For those that want a CAD$ account, look at the online bank, I'm really impressed by their offering/rates, and straight forward disclosures. Very unlike traditional banks.
EverBank offers no interest for CAD$ acct currently. You can choose to use XE to wire CAD in..or use Everbank to exchange. They said the acct is free of charge and the exchange cost is 0.75% of their exchange rate which sounds lower than XE... but they aggregate all requests from their customers to exchange once per day to try to get better rate. And their outgoing international wire is just $30 (free incomings) or we can choose to ask for a bank check/draft in CAD$ for free. If there's anything else I've missed please share the info with the rest of us.

I'm glad that so many people have so much confidence in ETI.. it sounds like a great company and great people. However, in my experience, the key/secret of why dealing with smaller businesses is so risky is that small company is so dependent on the health and well-being of its owners. This is the inherent risk of dealing with smaller companies.
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Old 04-08-2016, 01:17 PM   #77
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I just opened a FXC account at Vanguard to cover the cost of our April 12 ETI 19. Net cost .76 Canadian per US$. Hope this locks us in at a good rate. With the price of oil going up I figured that the Loonie would go up. Getting ready to sell our Casita soon also. Come on April '17.
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Old 04-11-2016, 11:12 AM   #78
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Anyone can call Tammy as I did and ask her this question directly. Her answer, ETI's bank does not charge a 3-4 % fee to convert CAD to US Dollars.

Originally Posted by Ralph & Paulette View Post
I know we checked a few other places, I believe including what ETI could get, and they were all in the 3-4% range.

Originally Posted by Ralph & Paulette View Post
If you do the exchange through your bank, or if you wire the money to ETI as US dollars, your bank or ETI's bank will convert them to Canadian, but will charge you a fee - typically 3 or 4%. Eliminating that fee could easily save you $1000 in exchange fees.
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Old 04-11-2016, 09:49 PM   #79
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Originally Posted by gocamp View Post
Anyone can call Tammy as I did and ask her this question directly. Her answer, ETI's bank does not charge a 3-4 % fee to convert CAD to US Dollars.
It is not a "fee" per se. But if you contact ETI and find out what the current US/CAD exchange rate is, then compare it to what you find online at places like, etc., you will find that the rate from ETI's bank is about 3-4% worse. This spread is essentially their "fee".
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Old 04-11-2016, 09:55 PM   #80
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The exchange rate online does not represent what the ordinary person will get at any financial institution.
It is likely what the Bank of Canada gets from US Treasury.
We just don't have the clout.

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