Canadian Dollar to US
Today the Canadian dollar hit a 3 year high. It's at about 1.0384
I am taking a tour this summer and I owe the tour operator $2000. I'm thinking I'll pay off the bill now and not risk the dollar going down (even though projections are for the dollar to be 1.08 by year end). However, I was told by a co-worker that if I pay by credit card:
(1) it takes a few days for the banks to adjust to anything on the market
(2) Visa has an "exchange fee", so unless you have a US dollar credit card, you get dinged 2.5%. 2.5% of $2000 is $50...
Is there a better way to pay my bill rather than credit card to avoid the surcharge? Would a money order cost more? If I write a personal cheque, it would be in Canadian.... Perhaps I should open an US account, move money into it, write a personal cheque, then close the account once it clears?
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