Anybody bite the bullet and exchange US currency for Can currency,about 25% right now,or roll the dice and hope it's even better in a few months ?
Getthenet, We did exchange already .Havent been watching but the rate quoted in paper and online is much higher than the one you can get in the local bank.... unless you are trading for the big boys on wall street. Let us know if you get better than 2/3 of quoted for future reference. good luck.
I plan to exchange in Pittsburgh sometime later this month so long as I can get 1.15:1.
Went north of the boarder in Fort Erie and bought $1,000 and got $122 extra which we spent 1/2 on dinner and beer, but we will be going up again hoping the rate goes higher.
Does anyone know what is creating the difference in exchange rate right now?
Quote from: Nancy on March 03, 2015, 09:37:03 PM
Does anyone know what is creating the difference in exchange rate right now?
so many factors on this but I would say perhaps one of the larger factors is the low price per barrel of oil. when that goes back up, the canadian economy will rebound slightly (since they produce more crude than the US), their dollar will get stronger and the exchange rate will go back close to even or in their favor... remember when gas was close to $4-4.50-5/gallon?... the exchange rate was darn near even.... lots of other factors obviously too but this would be my guess right now. As the price per barrel of oil goes up, the exchange rate will go down....
I hear ,heck with the banks and duty free,the best place to exchange currency are the casinos just north of the border. Any truth to that ?
I type wrong on what I got, I actually received $221 on a $1,000 so it was 22% at CIBC in Fort Erie. I always found the banks and casino gave the best. I called the Casino in Niagara Falls and they were the same as the banks. When I was at the bank they recommended setting up an account which I'm going to do, then when the rates go up you can send them a check to deposit and you get the rate of the day and don't have to run across the boarder to exchange it.
Just thinking,maybe the casino/race track in Barrie would be a good stop to exchange currency. Just a stone throw off 400,easy off ,easy to get back on !
Anybody exchange currency lately ? Looks like the rate is still about 22% !
As of today my bank give me 1.19 $$
darn, my bank keeps giving me a dollar for a dollar... ???
Oh ya, I am Canadian... :D
up to date rates.
Keep[ in mind,this is not what the banks will give you
http://www.xe.com/currencyconverter/
Rate yesterday was just under $1.21, converted to $1.14 net after fees. Pick up the cash on Tuesday.
TBone-What fees are you talking about anyways?
Convert it in Canada. I don't think you will pay any fees.
today at Scotiabank, you hand the teller $1000 usd, you get $1195 cad....that's almost 200 extra dollars; no fees
Most banks in Canada want you to have an account with them to exchange. Duty Free at the border charges almost $.08 per dollar in fees or more.
I'm 'ordering it' through my bank here in the states, and they charge a fee....like banks often do...
yes, the Duty Frees at the border charge a fee but if you complete your transaction at the Currency Exchange, you pay no fees.
We still have to exchange because the outfitter doesnt accept Visa. But, supposedly using visa USED to get the best exchange rate. Could be they also have gone the route of charging fees like everyone else.
Where are the currency exchanges?
@Marco just about any bank (USA or Canada) can and will do a currency exchange, it's just a matter of how much in fees you pay.
The currency exchange I think most people are referring to is the one at the border crossing duty free (presuming the peace bridge one).
They still charge a "fee" and if they don't, then their rate notoriously sucks! (to offset not charging a fee, they build the fee into the exchange rate)
While every little bit counts, at the end of day for me it's about convienence (which is why I use the peace bridge duty free currency exchange).... however you exchange your money to canadian, it's probably a wash over any other method, a few bucks here or there isn't going to kill any of us that is spending close to or over a thousand dollars for a fishing trip.
I liked it most a few years back when the rate was pretty much 1:1 and the outfitters would take USA or CAD upon arrival.
Made it really convienent
Is it really the case that the Duty-Free at the border crossing takes that big of a percentage of the currency exchange? We have exchanged there the past few years. Any help?
yes, it has always seemed that the Duty free had the worst exchange rates. This is the first year in a long time it has made much of a difference but if you are exchanging more than a hundred or two, it can add up.
I have to agree too, the Duty Free doesn't give a good rate, the banks, race tracks and casinos give the best exchange. There banks in very town to stop at on the way up. Since I live so close to the boarder I watch the rate and run across to Fort Erie, the only issue I had without having an account CIBC they would only do $500 per person per day so I did $500 and my wife did $500. Since the trip is going to cost me north of $3000 every % point counts. The other thing the bank teller recommended was setting up an account and then just mailing a check up to be deposited when the rate goes up, then I can make one trip up to make a withdraw ahead of time since we cross the boarder before the banks open.
Our group tries our best to avoid high traffic times going through Toronto, therefore we travel through the night and hit Toronto around 3-4am. Most banks and currency exchange places are closed during those times except for the Duty-Free! What would you all recommend for us?
An alternative may be to exchange currency in Témiscaming, Quebec or close by. A simple telephone call should establish whether this option is a viable one.
Bank Nationale 530 rue Kipawa, Témiscaming, QC (819) 627-3361
Caisse Populaire de Témiscaming 467 rue Kipawa, CP 1025, Témiscaming, QC (819) 627-3396
or
Scotia Bank at 346 Main St, Mattawa, ON (705) 744-5596
Jay
My bank will exchange through american express they charge $8 fee drop my money off pick it up the next day.
I use to work at the Port Huron, Mi/Point Edward, On border. There is a Duty Free on the American side and a Duty Free on the Canadian side BUT there is also a stand alone Currency Exchange operated by the Bluewater Bridge Authority after you clear Canadian Customs. I called the number listed and specifically asked them what their exchange rate was (same as bank) and if there were any fees. There are NO FEES. I can't explain it any simpler than that !
Drive slower when crossing the border and look for them or ask!
Blue Water Bridge Canada Currency Exchange
Bank
2 Bridge St, Point Edward, ON N7V 4J5
(519) 337-3703
Anyone know of places to exchange in North Bay that would be:
1. open on Saturdays? and
2. exchange without an account at that specific bank?
Today rate 1.2144 at my bank and t buy us money 1.2818 I hope ghis helps
Another thing to consider is that most banks consider exchanges of $1,000 or less to be a consumer transaction and give a better rate if your exchange is for greater than $1,000 (say $1,001.00). The teller at my bank always reminds me of this an the extra $1 in the amount will normally get me a slightly better rate. It is not much, usually only .5% but that is an extra $5 in my pocket.
Scotiabank in Northgate Mall open on Saturdays
http://www.mystore411.com/store/view/24469883/Canada/Scotiabank-North-Bay
Do you know if they will exchange without an account at that specific bank?
Snodt2120, I just called Scotiabank, and unfortunately, you do need an account to exchange :(
Thanks for your help. We've exchanged at a bank before but that was not North Bay. Any other suggestions?
I can't seem to find a place in North Bay. Tried googling but no luck at all :(... Anyone else?
Do what LimaCharlie suggests and exchange at THE CURRENCY EXCHANGE at the border crossing. Or just buy 3 less lures that you probebly won't use anyway and pay the fees ;D
Still thinking the casino/racetrack in Barrie may be a good option. Anybody ever stop there ?
Quote from: Balsams on June 03, 2015, 07:56:48 PM
Do what LimaCharlie suggests and exchange at THE CURRENCY EXCHANGE at the border crossing. Or just buy 3 less lures that you probebly won't use anyway and pay the fees ;D
Is that place open 24/7?
John just bring us and we will give the rate of the days from our bank at camp today 1.2120 see you soon Reggie
Well me being the impatient person that I am. I figured I would try and save some time and aggravation and exchange at a local bank. I got $935.00 Canadian for $797.65 US.
I just called the Peace Bridge duty free, 1-905-871-5400. The polite young lady who answered the phone told me that the current exchange is $1.28 Canadian for $1.00 US with a $2.50 fee.
As for the times and days you can exchange, she said 24/7
Wish I would have just done it there.
Jeff
We exchanged at the border. Current exchange rate is 1.145 for buying Canadian money.
I telephoned TD Canada Trust this morning to inquire about exchange rates. As of this morning at 1022 hours, 1000 USD would buy 1199.10 Cdn dollars (exchange rate is 1.1911). No additional fees and any TD Canada Trust branch should have no problems making the exchange.
And just for interest sake, for me to buy 1000 USD, it would cost me 1262.50 Canadian dollars (exchange rate 1.2625).
Jay
Geez, it wasn't all that long ago that Americans could get a loonie for 60 cents. I have relatives in New York City ( I nearly ended up there myself when my parents emigrated from Italy) they were always expensive trips.
Got 27.7% exchange rate at National Bank in Temiscaming 2 weeks ago ! They charged a $3.00 transaction fee for any amount if you don't have an account with them.
I changed money at the bank in tamisaming last month and besides there was a really sweet cute girl teller that made it a an even better. No charges just have two picture IDs ready
I didn't have to have an account either at Bank National just two IDs and no charge
With the exchange rate at 30%,is it a good time to stash some money for next year's Kipawa trips ?
@getthenet it could move either way, it's just a big gamble.
John
Quote from: getthenet on October 23, 2015, 07:10:38 AM
With the exchange rate at 30%,is it a good time to stash some money for next year's Kipawa trips ?
My guess is that so long as the price of oil stays low (which depresses Canada's economy due to less profits from sand flat production), the exchange rate will stay where its at. Since OPEC refuses to subside oil production in an effort to put the NA firms out of business by flooding the market, I don't see the price of oil dropping anytime soon... it's a buyers market on oil across the world (was in dubai last month and it was $0.13 gallon for diesel and $.08 gallon for petro!!!)
Plus, the US presidential election is coming up in 2016 and no incumbent party in their right mind would let the price of gas in America rise in an election year. That would spell automatic defeat for their party... so the USA price of gas will also stay down for political reasons (the adminstration will pull from reserves if it has to until the election is over), thereby maintaining the status quo for the exchange rate.
If I had to guess it'll be with +/- 5 cents of where it is right now during next summer...
I also was looking a the rates today and thought about picking some more up. I'm heading up to Fort Erie in the next few weeks for dinner and figured I'd stop and cash in $1,000. Then if it goes up next year I get more and if it goes down I'll feel good I got some now. Dollar cost averaging.
With the terrible rates for us Canadians, I sure won't be heading to Vegas or Florida this winter. May have to hit Mexico or Cuba again as I don't need much extra for all inclusive.