Buying Canadian Dollars

[shibuya]

Buying Canadian Dollars:


» It is relatively easy to get hold of Canadian dollars.
» Similar to its neighbour, the United States, Canada has an extensive and very comprehensive network of ATM machines. They are prevalent everywhere in the country and you will not have a problem making use of your credit or debit card.
» You will also find that US currency can be used throughout Canada, but you may get a poor exchange rate for your money. So you are better to pay with Canadian dollars and in this way your dollars should stretch just a bit more.
» If you are emigrating, or planning to emigrate, to Canada, it may be worth speaking to a reliable currency dealer as they could save you a considerable amount of CAD by buying the currency on your behalf at the best rate available. In addition, if you contact fx-foreignexchange.com, they won’t charge a transfer fee and the transaction will be COMMISSION FREE.

 

[fariza]

Yes the currency exchange rate playing a sorry cut of our wallet for the IMM process.... These exchange rate are greatly variable these days... Up to holding for POF in own currency in Bank or FD its alright but the loosing concern started when one prepare for landing with the POF... First stage own currency to USD in either form of Bank draft/TC ( lost a gulf incurred through exchange rate and fees)... then from USD to CAD (another phase of loss)... For someone these conversion might be one step more.... transfer from local currency to another currency (USD/AUD/EURO)... then revert back to CAD... so every step we have subjecting being squeezed out of our actual figure expected to remain in wallet.......

Any practical advise what would be the best way to loose less amount in exchange choosing the relatively better format of conversion to carry POF in canada?

 

[wilson]

I suggest never get currency from the departing or arriving airport currency exchange counters. Their conversion rate is with a high margin and also commission and charges. Local banks and licensed foreign exchange dealers ( not every one ) who deal with foreign exchange will be better than airports. Still need to make a comparison among them. Those who are in the Middle East can buy CAD currency from the Money exchange kiosks, who don't take commission. Dealers are not maintaining the same rate of exchange. Better to monitor the exchange rates every day over phone or in the media and purchase when you find a better rate.

 

[fariza]

I suggest never get currency from the departing or arriving airport currency exchange counters. Their conversion rate is with a high margin and also commission and charges. Local banks and licensed foreign exchange dealers ( not every one ) who deal with foreign exchange will be better than airports. Still need to make a comparison among them. Those who are in the Middle East can buy CAD currency from the Money exchange kiosks, who don't take commission. Dealers are not maintaining the same rate of exchange. Better to monitor the exchange rates every day over phone or in the media and purchase when you find a better rate.

Thanks senior for the advise...Will keep that in mind