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Old 07-19-2017, 11:46 PM   #1
calgaryblood
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I'm going overseas and am going to need to get a pretty significant amount in American dollars. Anyone know who usually has the best exchange rates?
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Old 07-20-2017, 06:35 AM   #2
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I'm going overseas and am going to need to get a pretty significant amount in American dollars. Anyone know who usually has the best exchange rates?
Calforex is better than the banks. I've heard Olympia Trust has better rates as well.
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Old 07-20-2017, 06:37 AM   #3
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Calforex. Lock this thread.
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Old 07-20-2017, 10:15 AM   #4
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The very cheapest way is to get an interactive brokers account and transact the currency on the wholesale forex market. Then, transfer the USD to a US denominated account at your bank, and withdraw it. This will cost you basically nothing other than time and inconvenience. It's a lot of paperwork unless you'll do it multiple times, or will use IB as your stockbroker.
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Old 07-20-2017, 10:20 AM   #5
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With Calforex, if you are an AMA member they waive a fee.
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Old 07-20-2017, 10:24 AM   #6
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Get a USD credit card and pay for your purchases with that. This way you don't have to carry a pretty significant amount of USD on your trip. Use one of the FX places above to pay off your card when you return. I use the TD version.
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Old 07-20-2017, 10:57 AM   #7
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Buy your dollars forward to take advantage of the current forward discount of the US dollar (assuming you're buying with CAD*)
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Old 07-20-2017, 11:10 AM   #8
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I'm going overseas and am going to need to get a pretty significant amount in American dollars. Anyone know who usually has the best exchange rates?
Just out of curiosity, where are you going? I'm assuming it's not the US.
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Old 07-20-2017, 11:13 AM   #9
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I'm going to assume based on the question and quantity of cash...Panama, drugs.
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Old 07-20-2017, 11:58 AM   #10
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Old 07-20-2017, 12:22 PM   #11
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Just out of curiosity, where are you going? I'm assuming it's not the US.
Middle East.
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Old 07-20-2017, 12:23 PM   #12
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Get a USD credit card and pay for your purchases with that. This way you don't have to carry a pretty significant amount of USD on your trip. Use one of the FX places above to pay off your card when you return. I use the TD version.
I'd love to but most of the stores where I'm going only accept cash.
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Old 07-20-2017, 12:33 PM   #13
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Middle East.
Exciting, a lot of interesting destinations in the region. Enjoy.
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