how to not lose my money when i WIRE or deposit in the bank upon landing?

[cooldoc80]

Hi Fellas

Could you help me with this question

I plan to take a 50 thousand us dollars with me , the next day i will put in bank , so my question is :

Which is the best way to deposit us dollars in canada without losing money in the exchange ?

- is opening a US dollar bank account is a better idea than depositing the money in Canadian account and getting the bank exchange fee ( which is usually low ) at least to my knowledge

- do you recommend i do the exchange at an exchange office outside the bank and then deposit it ??

- I checked for canadian and US forex(exchange sites ) and unfortunately they dont do transfers from my country in the middle east ?


thanks guys

 

[neutral]

Yes, open a US Bank Account and then withdraw the money and go to an exchange office every time you need.

Are you coming to Montreal?

 

[cooldoc80]

No Toronto initially , do you have idea how much difference between exchange offices and banks there is in regards to exchanging US dollars to Canadian dollars

 

[neutral]

No Toronto initially , do you have idea how much difference between exchange offices and banks there is in regards to exchanging US dollars to Canadian dollars

I asked the city because I know here in Montreal an exchange office I went 3 weeks ago with great rates. For every $1K you could save easily $30 and more.

 

[CanV]

Hi Fellas

Could you help me with this question

I plan to take a 50 thousand us dollars with me , the next day i will put in bank , so my question is :

Which is the best way to deposit us dollars in canada without losing money in the exchange ?

- is opening a US dollar bank account is a better idea than depositing the money in Canadian account and getting the bank exchange fee ( which is usually low ) at least to my knowledge

- do you recommend i do the exchange at an exchange office outside the bank and then deposit it ??

- I checked for canadian and US forex(exchange sites ) and unfortunately they dont do transfers from my country in the middle east ?


thanks guys

Open a US bank account, it's easy. Wire transfer the funds to it, it will only cost you like $50. Do not exchange at the bank, their rates are high. In Toronto, check out Kantor, they have competitive exchange rates.

What do you you mean you can't wire transfer from your country? Yes you can.

 

[vehla_ji]

Hi Fellas

Could you help me with this question

I plan to take a 50 thousand us dollars with me , the next day i will put in bank , so my question is :

Which is the best way to deposit us dollars in canada without losing money in the exchange ?

- is opening a US dollar bank account is a better idea than depositing the money in Canadian account and getting the bank exchange fee ( which is usually low ) at least to my knowledge

- do you recommend i do the exchange at an exchange office outside the bank and then deposit it ??

- I checked for canadian and US forex(exchange sites ) and unfortunately they dont do transfers from my country in the middle east ?


thanks guys

question is what currency you have in hands? US dollars or Dinar, dirham or riyal?

 

[cooldoc80]

Us dollar

 

[vehla_ji]

For better rate or for profit go for credit union or bmo us saving account

 

[vehla_ji]

Amount you mentioned in your post you can get $60000 in cdn for that.