Hello from Missouri

[RSBJR]

Hi, My name is Ray and I am new to this forum. We are in the market for a 19' or 21' foot Escape. Can anyone give me some advice on how to use the exchange rate
US to CAN dollar to my advantage. How to lock in a price when the rate is good ? etc.

Thank You

[cpaharley2008]

Once you send the money to Escape, they give you a receipt in Canadian dollars and it is locked in. Changes after that have no impact. So when it is favorable, send more money, when it is not, then you have more decisions to make. Over 6 years and 3 Escape purchases, I have experienced anywhere from $1cn =$.73us to $1cn=.$96us. If we could predict the future we all would be rich. Here is a historical presentation https://ycharts.com/indicators/canad..._exchange_rate

[RSBJR]

Originally Posted by cpaharley2008

Once you send the money to Escape, they give you a receipt in Canadian dollars and it is locked in. Changes after that have no impact. So when it is favorable, send more money, when it is not, then you have more decisions to make. Over 6 years and 3 Escape purchases, I have experienced anywhere from $1cn =$.73us to $1cn=.$96us. If we could predict the future we all would be rich. Here is a historical presentation https://ycharts.com/indicators/canad..._exchange_rate

Thank You Very Much
I'm not in a big hurry. I think I will try to wait untill it gets around the .73 us - 1.00 cn ratio. If it does. ?

[Donna D.]

Originally Posted by RSBJR

Thank You Very Much
I'm not in a big hurry. I think I will try to wait untill it gets around the .73 us - 1.00 cn ratio. If it does. ?

It already did and now the exchange rate is bouncing between .79 and .80 us - 1.00 cn. Whether it goes down or goes up is a crap shoot.

[jking1224]

I just sent ETI some money two weeks ago for my trailer. A word of warning: I used my bank, Wells Fargo. I sent it as Canadian dollars. So, Wells did the conversion on "my end". The conversion rate that day was 0.80. However, Wells Fargo also charges a percentage, which is NOT disclosed. It is not shown as a fee either. It is just added to the conversion rate. So, my effective rate to ETI was like 0.82. Bummer. You might consider asking ETI what the conversion is on their end. ETI probably doesn't know directly, so have to ask ETI's bank directly, which is Vancity Community Bank. So, send it as USD, let ETI's bank convert it Canadian dollars, to avoid the extra "fee" that your bank likely also charges. And, by the way, the rate improved last week to 0.79, so I should have waited. If we could only predict the future. It was 0.75 a few months ago.

[Donna D.]

Originally Posted by jking1224

You might consider asking ETI what the conversion is on their end. So, send it as USD, let ETI's bank convert it Canadian dollars, to avoid the extra "fee" that your bank likely also charges.

You can certainly ask, but the rate will be based on the hour/day the dollars are received... not when you called and asked. When I was sitting with Tammy, doing the final paperwork and writing the check, she called the bank and asked... right then and there.

[jking1224]

Originally Posted by Donna D.

You can certainly ask, but the rate will be based on the hour/day the dollars are received... not when you called and asked. When I was sitting with Tammy, doing the final paperwork and writing the check, she called the bank and asked... right then and there.

Yes, it changes constantly. The tip is to ask. Perhaps ETI's bank, being a small town bank with ETI as likely an important customer, doing lots of transfers, may charge a smaller percentage to convert than the conversion my bank, Wells Fargo, charged me.

The conversion rate charge is in addition to the wire transfer fee I was also charged. So, they charged me like $30 to send a wire transfer, which is clear and disclosed. But then masked the fee for conversion.

[gbaglo]

VanCity is not a small town bank.
Banking in Canada is not the same as banking in the US.

[cpaharley2008]

I have always just sent a check, in the US mail (double stamps are required), Escape receives it within a week and credits me. No fee, no middle man. I tried to send a wire once, via Wells Fargo, it took 10 days. US mail was quicker, cheaper and simpler.

[War Eagle]

Several previous threads on this, such as:
http://www.escapeforum.org/forums/f3...rate-7492.html
and
http://www.escapeforum.org/forums/f3...tes-10140.html

[SFDavis50]

I believe I got a much more favorable rate by sending/taking a cashiers check in USD to ETI. Much better than the rate Wells Fargo was quoting. I got the cashiers check in USD at Wells Fargo.