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I just want to share my experience on currency exchange.
I used to exchange USD to CAD at Scotiabank my wife and I both worked once, terrible rates, Plus and minus 3% or 300 BPS (basis points) on Mid market rate (can find out from XE.com). ie. 10000 you need to pay them or get less from them about 300 dollars. Then I used XE.com on internet after proper registration (painful registration to stop money laundering), the rate is plus and minus 1.5% or 150 BPS. So for 10000, the commission (how I call it) is 150 dollars, not too shabby, not worth it if it is for 500 USD.
Now I found out that a new branch is conveniently located here in Markham at Warden and Steeles called EVERFOREX. They have a web site that you can check the LATEST rate of both midmarket or their buy and sell rates. The Cash vs NON CASH (Canadian bank drafts) is roughly 0.5% or 50 BPS, so for 10000 I will do either 10050. (ASSUME MID MARKET RATE IS 1 to 1, which currently it is not 1 to 1.3).
You save a lot of money by doing business there.
E.g. I just exchange 700 USD and get back 914 CAD back.
Anyway, any money saved is better. |
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发表于 2015-8-16 06:50:37
