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Ally US Exchange Rate
February 27, 2013
7:37 am
GS1
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February 22, 2013
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Weekly I check the cost to purchase US$2000 at RBC, ING and Ally (where I hold Cdn and US$ HISA's). Since opening their US$ HISA Ally has consistently had the best rate. I was pleased to see that today's check showed Ally continues to have the best rate.

For reference (around 10:10 am today):

To buy US$2000 at RBC would cost Cdn$2094.20
To buy US$2000 at ING would cost Cdn$2084.00
To buy US$2000 at Ally would cost Cdn$2024.26

RBC's rate tends to make minor change multiple times per day
ING's rate tends to not make minor changes and has been known to hold the same rate for multiple days
Ally's rate tends to change minute by minute.

Greg

March 1, 2013
10:14 am
Yatti420
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2038.20 at Hubert (as if 12:58pm est Mar 1st) + $5 if you don't have an account.. Daily changes I believe for exchange rate.. I wouldn't be hanging around Ally personally.. Although I'm still with ING sooo sf-confused

March 2, 2013
1:35 pm
maxi
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I too held a US savings rate, however, between the poor exchange rates and fees, I moved most of my longer-term US dollars into several blue chip preferred shares with a stable dividend and share price. I've done far better with this approach over the past three years. When I need short term US funds I shop out the banks and exchange house to see who is offering the best rate at that time.sf-wink

March 2, 2013
2:34 pm
GS1
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maxi said

I too held a US savings rate, however, between the poor exchange rates and fees, I moved most of my longer-term US dollars into several blue chip preferred shares with a stable dividend and share price. I've done far better with this approach over the past three years. When I need short term US funds I shop out the banks and exchange house to see who is offering the best rate at that time.sf-wink

Ah, but for folks like me who try to be south for three months of the year I need "buckets" of short term US funds. My tactic has been to buy $2000 at a time when the rate seems best to me, allowing me to build up the $8000 - $12000 I will likely need each year.

I also have US semi-blue chip stocks but they are part of my "investment strategy".

Greg

March 2, 2013
5:38 pm
maxi
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Good point, I only require a grand or so at a time when exchanging CDN for US dollars.

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