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Questions about US$ exchange rate
February 25, 2008
10:30 pm

Is anyone familiar with brokers which offer better exchange rate for exchanging US$ to CDN? The current exchange rate at CIBC is way too low. I know the downturn of US$ so I just expect a bit better rate than my bank. I got two recommendations from my friends which are,

(1)TD waterhouse - gonna book appointment these days
(2) Casino?! - exchange funds at "high limit room"?! and you don't have to play at Casino?!

Anyone knows any info, please kindly advise me! I am dying for the best solution!

Thanks heaps! 🙂

April 2, 2012
7:16 pm
Forum Posts: 64
Member Since:
December 22, 2011
sp_UserOfflineSmall Offline

Dewy. I would try XE.COM, or even I use all three to buy/banking-scam-email US$. The only downside with Ingdirect is that they change their buy/banking-scam-email rate whenever they feel like it. Theres no rhyme or reason with ING. But I recommend and for sure. As for the Casino, I did that too, but you will get a better deal the further from the border you are with the Casino. Anyways, thats just my opinion.

October 8, 2018
5:25 am
Forum Posts: 10
Member Since:
October 7, 2018
sp_UserOfflineSmall Offline

Hi all
This is my first post, but I have been following this site for years and have taken advantage of the great information it provides.

I have a set up with Agility forex.
It is linked to my RBC CAD savings account (no fee, but one transaction a month free)
It is also linked to my RBC USD account
Minimum exchange is $3,000 USD
Agility is in the add a payee in RBC
The exchange rate is better with larger amounts exchanged, but it is about .2 to .3 % vs credit cards at 2.5%
So, I log into Agility and select an amount in USD that I want and Agility gives me an instant quote in CAD and exchange rate. If I like it, I execute the transaction.
I then log into RBC and go to pay bills, select Agility and pay the quoted amount in CAD.
Within 2 days my USD is deposited in my RBC USD account.
I have done this numerous times over the last 4 years in amounts from $3,000 to $50,000 without any problem.
I also have a RBC U.S. Checking account, debit card and VISA card.
When in the States, I use my USA RBC visa, and then pay my bill with my US RBC chequing account. I keep my chequing account topped up from my RBC Canada USD account that I supply through Agility.
The only fee I pay is a monthly $3.95 for the RBC U.S. "Royal Embassy" chequing account.
This is the only reason, I have accounts at RBC, so I do not incur fees for the RBC Canada accounts.
The rewards program on the US Visa more than covers the chequing account fee.
I also use my RBC USD debit card.
On line, when I log into RBC Canada, my RBC US accounts are linked and it is easy to do "North to South" transfers and vice versa.
My debit card in the states also gives me ATM access with no fees.

October 8, 2018
5:56 pm
Forum Posts: 219
Member Since:
September 5, 2013
sp_UserOfflineSmall Offline

I have been using the following for last few years, and call them to book a maket rate, and the rate will be valid for a few hours. They also have a few outlets for cash exchanges in downtown Toronto. They always offer the best rate in the market.

When I used them for exhange a big amount for my house purchase in USA in 2012, they saved me for thousands CADs in comparison with local banks. Our FX at local banks are insane!

Interchange Financial Corporation
5617 Yonge St., Toronto ON M2M 3S9

T : 1.888. 972.7799
T : 416.227.0963

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