RIM

[SASKFARMER3]

One off i don't have time to discuss with you the US dollar but how come the folks for 22 years have had a checking account in Phoenix and also have a us visa card etc. For 22 years the checking account really simple.

[oneoff]

Its the details that prove whether you know what you are talking about. Leave those facts out; or not be prepared to prove your point and you are just blowing hot air.
Sure your current credit card may work near world wide. It also may just be being used as a debit card as long as you have funds that don't trigger a negative balance in your account balance.
There is also the possibility that the US rules have changed since 911. To even get a US post office box; you now have to provide two pieces of documentation documentation before USPS will even place mail in your box. That also applies to anyone else using that same PO Box.


And further; does anyone other than the agri-ville regulars even read any of these posts.
I don't have the time to provide information to a few people who casually say they have no time to discuss topics that they bring up the first place. If you've got aweak argument; then keep it to yourself.

[SASKFARMER3]

Ok one off explain why we have a post office box in Phoenix for 20 plus years and a US checking account in Minot and In Phoenix.
Father Inlaw has one in Montana to do sales.

[oneoff]

Parsley Just because a money order or draft has no service charge attached to it; doesn't mean there is no fee on top of the exchange rate that everyone has to pay. There is another layer of charges involved that no bank is going to such up without charging up front.
That charge is what I would call an exchange fee. It covers their broker or agent who purchases and exchanges US dollars for Canadian ones (or vice versa); or more likely just shifts the money from one pile to another as long as their customers and friends need about the same amount from each pile. No bank or Credit Union is going to do that for free; because as they would tell you there is risk of the rates changing; costs for the paperwork and persons involved in the transactions etc. etc.
As already stated, you can't avoid that same exchange fee by using a credit card attached to other than the funds of a certain bank account in the country from which it was originally applied for. And I be interested in the steps someone says you follow to get a credit card from your friendly US bank. I've been told by a major major US bank that it can't be done.

[parsley]

I pay an exchange rate for all different kinds of money I buy with Canadian dollars.

Euros. marks.American dollars. Krona. British pound.

But I can send a US money order with no additional fee charged for this bank money order. Only the exchange rate is charged. I used my account to send a money order for my neighbor, otherwise it would have cost him an additional $35.00 on top of his exchange costs. Pars

[wedino]

Cheapest I can find for small amounts is Custom House (now Western Union) Charge 1.25% to do the transfer. EFT (take money from Canadian bank & deposit in US bank account).

RBC charges me 2% & I need a US RBC bank account & need to carry a $700 balance or they charge more fees.

http://onlinefx.westernunion.com/funding-and-payment-types/

[oneoff]

In summary; like Larry Weber and myself have said;
For currency exchanges (Canadian to US dollars involving say $20,000 to $50,000) there is no reason to pay more than in the order of a quarter of a percent fee for the exchange (0.25%).
Anyone who thinks they are getting it for free by using a credit card; free money order or any special package account deal from their favorite banking institution is naive and is actually paying 2% to 5% if they could do the math.
For small amounts that may be quite acceptable for the convenience and lack of other viable options. But supposedly worldly people are missing the differences between "day rates" (that our nickel and dime service charge institutions use to make their huge profits); Bank of Canada exchange rates; flucuating by the second money Canadian to US exchange values; brokers acting on your instructions to buy tens of thousands of US dollars right now; exchange fees that the money changers are not going to lower to 0% let alone do for a loss etc. etc.
You can save the recipient some "$35.00" fee by choosing the correct money order. But don't think you aren't on average paying about 2 1/2% to 5% more than what the exchange rate should really be.

[boarderbloke]

Thanks for all the responces and ideas. Will do more checking it to better rates, at some point I will turn some money.