Using XE for Electronic Fund Transfers (EFT) - Page 3 - Escape Trailer Owners Community

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Old 05-04-2015, 08:32 PM   #21
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We did a few ETF transfers around Spring Break. Once the information was established, the transaction went pretty smoothly and quickly (not to mention a super sweet exchange rate!)

The only hiccups we had were:

1. Transit Number: When we entered the bank info on the XE website we came across a field as "Transit Number". It is probably not even necessary per Karen's comments but we didn't know better and requested it from ETI. We acquired, confirmed, and re-confirmed it with the Foreign Exchange Manager at Vancity at the Chilliwack branch but XE declared it invalid at our first attempt to make a transfer. Turned out the format of Canadian Transit Number is different from the format XE expects. One quick call to XE and the representative re-arranged the numbers for us and we were good to go.

2. After we fixed the Transit Number we sat and waited a week thinking the fund were being moved. But no. We called XE again and the representative told us that the numbers all look good except the status had not been updated to "resolved" since our initial problem. He fixed the status and the fund was delivered the next day.

The information I received from Vancity is slightly different from the one I received from another forum member here who had completed similar transactions late last year. I am not sure how. They could all be viable information. But it would be good to get the most up-to-date info directly from ETI/Vancity. Also don't hesitate to call XE. Despite I feel their website could be done better to add some heuristic for error checking, I find them very helpful in addressing problems. I got to speak to a person pretty quickly every time I called which is important for me.

Good luck! May the force (of favorable exchange rate) be with you.

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Old 05-04-2015, 10:38 PM   #22
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Originally Posted by akoaoka View Post
We did a few ETF transfers
Should read EFTs -- Electronic Fund Transfer.
BTW when we made the payment I tried quoting EFT vs Wire. I recalled seeing very similar rate and no fee for both. I am not sure why. The wire cost could have been masked by the fluctuating exchange rate and the small dollar amount we quoted.

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Old 07-06-2015, 06:38 PM   #23
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24.41% Exchange

Big Thank You to KarenH and Barb at ETI who helped me setup the XE account. I sent a test transaction last week ACH/EFT which takes about 10 days to process so not 100% certain that is working yet. There is no charge for the ACH option.

XE offered 24+% rate today if I booked it. They do have a free draft option as well where they will mail a draft to ETI and they only need the address information which they have on the recipient info section. Since our trailer isn't hatched until Nov, I grabbed that option at over 24.4% today. The nice thing with the XE option is that once you agree and book the trade, that's what you get and you don't have to wait for the money to go somewhere and be converted.

That is some major Mojo right now on conversion rate for anyone who needs to send payments to consider.
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Old 07-06-2015, 06:48 PM   #24
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A couple major banks say that Canada is in recession and that they suspect the Bank of Canada will lower the prime interest rate yet again. In the US they expect interest rate to rise. The result would be an even lower Canadian dollar. One suspects it will overshoot, dropping to 70 cents before settling at 75 cents.
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Old 07-06-2015, 07:32 PM   #25
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Wow. Although it might hurt someone trying to sell a used one, the rates right now for US buyers are amazing. Anyone out there who's fence sitting should jump NOW. Escapes were always one of the best trailers for the money, but now they're an even bigger bargain.

EDIT: Just to put that in perspective, a new Escape 19 (no options added) would go for about 20,775 USD right now. That is the same price as a 2016 17 foot fiberglass trailer (no options added) from a certain manufacturer here in Texas....

"You can't buy happiness, but you can buy an RV. And that is pretty close."
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foriegn funds transfer, xe trading

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