Best money exchange centre

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NM
Member since: Jan 09

Posts: 180
Location:
Post ID: #PID

Posted on: 18-03-09 01:26:28

Hello friends,

I have deposits in USD and would like to convert then in CAD. Please suggest best money exchange centre in Scarborough / Toronto area. Or should i get then converted in bank itself? I have a/c with TD Bank.

Any commission is charged for converting them? Any taxes to be paid while converting?

I am a new immigrant.

Thanks.

desi-friend
Member since: Jun 08

Posts: 237
Location: Toronto
Post ID: #PID

Posted on: 18-03-09 11:53:00

You can open a US Dollar account with TD Bank and tansfer money to your CAD account and vice versa whenever exchange rate is good. Echange rates are better with a US Dollar Borderless account. Consult your account manager for more info.
Hope this helps.

coolvip
Member since: Jan 09

Posts: 88
Location:
Post ID: #PID

Posted on: 18-03-09 13:20:29

When I withdrew money from US account I always used ATM card at the most you will have to pay ATM charge of 1-2 USD but exchange rate that you will get is the current market published rate. Simply do one thing and you will realize how best it is to use the ATM card. I had saved a lot.
Withdraw 1K using ATM and withdraw 1K using any other method on the same day. Compare the rate and you will thank me for saving you some buck! But do keep record of all the ATM receipts.

NM
Member since: Jan 09

Posts: 180
Location:
Post ID: #PID

Posted on: 19-03-09 05:24:23

Thank you guys.

If i withdraw USD from ATM, Can i exchange in any money exchange center? any such exchangers available in Toronto?

coolvip
Member since: Jan 09

Posts: 88
Location:
Post ID: #PID

Posted on: 19-03-09 10:28:43

Use the US ATM card (I hope it is VSA or Master) in Canadian ATM to withdraw Canadian Dollors. Do not withdraw USD else you will again have to pay exchange rate.

Garvo Gujarati
Member since: Nov 01

Posts: 3118
Location:
Post ID: #PID

Posted on: 30-03-09 15:02:21

You can use xetrade.com

-----------------------------------------------------------------
A Proud Indian Canadian

NM
Member since: Jan 09

Posts: 180
Location:
Post ID: #PID

Posted on: 30-03-09 15:07:57

Hi Garvo,

The deposit is in Bank. How i can use xetrade.com?

Suggestions welcome, thanks.

Contributors: NM(4) ftfl(3) Canada_Ka_Bhikari(2) coolvip(2) vikshr(2) G13(1) HelenWHillman(1) desi-friend(1) Garvo Gujarati(1)

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