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Old 04-12-2016, 07:35 AM   #81
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"Originally Posted by Ralph & Paulette
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."

Eti's bank does not charge a 3-4 % fee to convert CAD to us dollars. That is misinformation as quoted. There is no fee. Call them and ask to verify if interested. Happy camping
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Old 04-12-2016, 07:46 AM   #82
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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.
That's exactly what the folks at my credit union said - that only those high level bank transfers get the "official" exchange rates. I've been told that the closest we mortals can get is with credit cards. There are regulations about what rate credit card companies use for exchange rates, closer to the "official" one. But then they are charging merchants about a 3% fee so they make it there. I made my down payment to ETI with my Mastercard and the rate I was charged at was very close to the official one. But ETI then has to pay 3% to Mastercard - thus their maximum of $3000 total payment by credit card.
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Old 04-12-2016, 08:02 AM   #83
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From what I can see, FXC's rate is very close to those mid-market rates. However, you would still have to take the hit at the end when you actually exchange to CAD$.

From what Everbank told me, if quite a few of us all opened the CAD$ accounts with them and timed our exchanges on the same day (group buy )... we'd get pretty close to those rates too (minus the 0.75% Everbank fee).
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Old 04-12-2016, 10:20 AM   #84
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Xe.com would usually offer around 2% below the official published rate. I would book an offer to them at around 1.5% under and they'd usually accept it within 48 hours. I liked the ability to tell them what I would accept. Sometimes they took it, sometimes they didn't.
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Old 04-12-2016, 05:44 PM   #85
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What about buying an ETF that hedges the Canadian dollar in your investment account. Seems to be several available. Top CAD (Canadian Dollar) ETF
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Old 04-12-2016, 05:56 PM   #86
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What about buying an ETF that hedges the Canadian dollar in your investment account. Seems to be several available. Top CAD (Canadian Dollar) ETF
That's what I did. Bought FXC with some of the money I am saving for the trailer. It's slowly trending up.
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Old 04-12-2016, 09:39 PM   #87
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Eti's bank does not charge a 3-4 % fee to convert CAD to us dollars. That is misinformation as quoted. There is no fee. Call them and ask to verify if interested. Happy camping
Sorry, I shouldn't have called it a fee. More accurately, it is the difference between the rate you will get through ETI's bank and the rate you can get elsewhere. As others have mentioned, you can likely get a better rate through places like Everbank, XE.com, and as I'd mentioned a few days back, through Vanguard.
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Old 04-13-2016, 12:58 PM   #88
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One more thought. The best exchange I received in my purchasing process was from ETI and their bank. I figured about a 1-1.5% markup. Next was Visa which was about 3% (my initial deposit and final small payment) and the worst was the Hampton Inn in Chilliwack....my recollection about 10%.
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Old 04-13-2016, 01:18 PM   #89
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Same as lucky one here, The best exchange I received in my purchasing process was from ETI and their bank. I figured about a 1-1.5% markup
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Old 04-13-2016, 02:55 PM   #90
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Same as lucky one here, The best exchange I received in my purchasing process was from ETI and their bank. I figured about a 1-1.5% markup
When did you guys purchase? When I checked in mid-2015, Vanguard was 3+ percent better than ETI's bank, but I didn't check again when I paid in February. Maybe the lesson here is to check around, and then check again before making your payment if it's been awhile. I'm still very happy with the rate I got. I'm sure folks who bought a couple of years ago would have loved to have gotten the rates we're seeing now.
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