Assuming that the individual gets paid in the US (let's say a US bank account), how does one use that money in Canada? Isn't that person losing a lot of money in exchange rates? Is there some other arrangement?
Assuming that the individual gets paid in the US (let's say a US bank account), how does one use that money in Canada? Isn't that person losing a lot of money in exchange rates? Is there some other arrangement?
If you exchange cash at some exchange counters then you would loose more. You should be already transferring money to India. Same way you would transfer with effective exchange rate to use in Canada.
Assuming that the individual gets paid in the US (let's say a US bank account), how does one use that money in Canada? Isn't that person losing a lot of money in exchange rates? Is there some other arrangement?
If you can setup an account with TD, they should have USD account.
Use https://www.knightsbridgefx.com/ to get CAD. Their rate was 1.355 when market rate was 1.36.
Otherwise, xoom is another option. They can transfer money from an account in US and deposit CAD in Canada.
