Exchange rate
 

I have some good amount of cash in UK £ , US $.
I have these deposited in DUCA as a UK £ and US $ accounts. The bank is offering a exchange rate of 2.056 for £ and 1.109 for US $.

Is this ok ? anyone experienced in this ?

Re: Exchange rate
 

Life get a. (anag.)

Re: Exchange rate
 

poor rate - do more research

Re: Exchange rate
 

Looks like a rubbish rate to me. Go to www.xe.com and see the real rates. if you're transferring a chunk you should get much closer to the spot rate than this: you ought to be paying a small fraction of a percentage point in the spread.

K.

Re: Exchange rate
 

Look at HIFX or Moneycorp......Rate is £1 = $2.1CDN

Doesn't seem alot, but if ya transfering over alot of cash it is.....

(Current predictions show it "should" rise further over the near future as well, so I have been advised)

Re: Exchange rate
 

But I already have the money deposited in the Bank. So now how do i take it out and get CDN using xe.com or someone else ?

Re: Exchange rate
 

If you have already changed your money then to put not to fine a point on it you are screwed.

Re: Exchange rate
 

If you haven't transfered it yet to Canada you should be ok. Look on these companies' websites to find out how it actually works - may be speak to someone in person?

Re: Exchange rate
 

I have dealt with one called Thomasexchange and all you did was make a payment to them directly to their bank account, they will not take a payment by credit or debit card as then they will be charged a fee and they cannot bear the cost because their rates are so much better than the High Street banks.
It's easy to transfer money if you have an online bank account but if you don't you can just fill out a transfer slip at the bank, it costs nothing. And don't let them persuade you to do it by CHAPS Transfer as it will cost you £25 to do that.

Re: Exchange rate
 

There are a number of people on this group that think they are beyond reproach and have no manners whatsoever - you obviously must be British.

A lot of people find the majority of posts really helpful and sometimes they need some guidance not ridicule.

Why is there a minority on this group that think they are soooooooooooo cool?

Life - a - get (Ang)

Re: Exchange rate
 

we brought a cheque made out in sterling, went to TD Canada Trust told them how much it was and because it was over a certain amount the manager rang through to this 'special' line and we got a better exchange rate. We did go to a few banks and did the same and TD were the best.

Once you change the money though try not to check the exchange rate for a while or you'll drive yourself nuts figuring out what it would or wouldn't have been.

Jo x

Re: Exchange rate
 

There are also people on this forum who seem incapable of doing the most basic research and want someone, anyone to hand them the answers on a gold platter. Sometimes that can get annoying.

Re: Exchange rate
 

I really do think that some of our Forum members should be a little more understanding of newcomers to the site. I do find it offensive when long standing members either ridicule them or make strong assumptions about what they have or have not done or can or cannot do without even asking or pointing them in the right direction with a little more courtesy.

Re: Exchange rate
 

I found american express rates very good, try to contact them quating the amount you want to change, and they accept debit card and offer to tranfer your funds to a canadian bank account (if you already opened one).

Re: Exchange rate
 

I share you're view but a little understanding from senior members would be appreciated. They have the benefit of their experience and should understand full well the emotional strife that immigration entails and at times the lack of experience of new members. Some people appear to get a kick out of flaming others.

Enough said now the good news. Job offer from BC Hydro came through last night so we had a little celebration. :beer: :beer: :beer:

We are off to Vancouver in January to start our new life and we do fully understand the emotional roller coaster of immigration!

Good luck to all in the process its taken us 5 years to get this far.

Paul