Transferring USD to CAD

[jesmithers]

Hey guys! So I'm wondering what are your thoughts about the best rates for my husband to transfer his savings to CAD? He has a ton of money (over 50k) and he's worried about the banks ripping him off and even private companies taking parts of it for the conversion. Curious to know if anyone has already landed (americans) and converted their money and how their experience with it all went. Thanks!

 

[jamsham12]

PayPal. I use PayPal to transfer funds (USD to CAD) every month usually send the funds via email to my common law partner, she then transfers it to my Canadian bank account, they don't charge you any fees and the conversion rates are usually on point.

 

[innosense]

Hi,

I have used Currency Fair many times over the last year. They provide good rates and reliable. They collect lots of documents to verify you and have excellent customer care. Although I was bit scared for the first transaction I felt very safe doing the subsequent transfers. Here is the link

https://www.currencyfair.com/?channel=R28JN1

 

[saria1]

What about a TD cross border account. This way he can have an account in the USA and one in Canada and do free wire transfers of his cash. Right now, with the way the Canadian dollar is going down, I would urge him to keep his money in USD, and only transfer what he needs as you need it.

 

[kerryannbailey]

TD cross border services is great. When i worked there all my clients used it to get money to and from Canada without the interest rates and fees reducing their balance.