Exchange US dollars

Discussion in 'Canadian Region' started by 44070dart, Sep 19, 2017.

  1. 44070dart

    44070dart Well-Known Member

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    can you guys tell me the best way to convert US dollars to Canadian dollars ( without going to jail)..looking to buy a car in Canada and need $12000 Canadian ... thanks
     
  2. Jadaharabi

    Jadaharabi FABO Gold Member FABO Gold Member

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    Go to a bank and do it.
     
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    • 44070dart

      44070dart Well-Known Member

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      any Canadian bank .. got idea how much they charge for that amount
       
    • Jadaharabi

      Jadaharabi FABO Gold Member FABO Gold Member

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      I don't think a bank charges. You can do it at a US bank I believe.
       
    • 44070dart

      44070dart Well-Known Member

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      No you can't do that much cash at US bank
       
    • Jadaharabi

      Jadaharabi FABO Gold Member FABO Gold Member

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      I thought you could any amount but over $5000.00 had a 3 day waiting peroid.

      You can thank obama for this i believe.
       
    • jimjimjimmy

      jimjimjimmy lobsterman FABO Gold Member

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      go get 6 grand and get 6 g the next day or go to 2 different banks .
       
    • 44070dart

      44070dart Well-Known Member

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      $3000 per day in the US ..and you need to order it, they won't give it out 4 days in a row......I need this buy Fri., why I'm looking to CND. for an answer
       
    • Jadaharabi

      Jadaharabi FABO Gold Member FABO Gold Member

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      May sound funny but how about calling a bank in canada near where your going, to buy the car.
       
      Last edited: Sep 19, 2017
    • Mogre

      Mogre Well-Known Member

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      Right now the Can$ is roughly 0.81US. You have to declare over $10,000 at Canada Customs. So $12,000Can is about $9,600US.
      Banks here will add a service charge to convert usually 2.5%.
      I would call a bank to find out.
      I stayed at the old holiday inn on grand island many years ago while
      Xmas shopping on black Friday.
      I could be interested in a face to face exchange for some of it for trips south but it all depends on where you buying the car. Good luck with your purchase.

      Denny
       
    • 44070dart

      44070dart Well-Known Member

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      need to know how much to bring if over 10 grand need to declare it and answer questions when you come back ..that's why I'm asking Canadian members, they may know not guess. thanks .. Going to Ottawa
       
    • inertia

      inertia Well-Known Member

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      Ask the seller if he'll take US funds, consider bringing 1/2 US/ Can. I wouldn't hesitate to take US funds.

      And be carefull, I believe you can only bring $10k Can, into Canada, so maybe have a friend carry half. You would only need apprx $9k US anyway,, hope it helps.. cheers
       
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      • Jadaharabi

        Jadaharabi FABO Gold Member FABO Gold Member

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        Sorry didn't see the don't offer any input if you're not Canadan sign.
         
      • diymirage

        diymirage HP@idle > hondaHP@redline

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        are you kids set on a price?
        if so, you can buy a money order for the canuckian funds
         
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        • 44070dart

          44070dart Well-Known Member

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          JADA ..IF you had an answer I would welcome it, but I can guess as well as you.. that's why I'm in the Canadian section ..

          Guy doesn't want US dollars, he doesn't want to deal with the exchange rate business, just wants Canadian cash.... I'll go to Canada tomorrow and check it out at the bank ..just thought maybe somebody knew about this.. thanks
           
        • YellowDart69

          YellowDart69 Well-Known Member

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          Why not phone two or three Canadian banks, such as Scotiabank or TD, Even though TD,is Canadian (Toronto Dominion), they have branches all over the U.S. and ask them how to do it. remember banks make a profit on exchanging currency.
           
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          • 4spdragtop

            4spdragtop FABO Gold Member FABO Gold Member

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            Bring $9900 US amd declare it when you cross. Go to a bank here in Canada and exchange it.
            Make sure you have all your other paperwork in order. Ottawa is 3 hrs away from me. If I can help lemme know.
            Oh if someone is coming with you, you can theoretically "split" the money up. $10k limit I believe is per.person
             
          • harrisonm

            harrisonm Well-Known Member

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            Several people have had really good ideas. Here is what I'd do. I'd take all U.S. money with me. Then I'd go to a bank with the seller, tell the teller how much in Canadian the seller wants, and the teller will take the exact right amount of U.S. $ from you and give the Canadian $ to the seller. Easy Peasy Lemon Squeezy.
             
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            • 1967formulaS

              1967formulaS Well-Known Member

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              Can't you just do an international money transfer from your bank account to his?
              I buy stuff from the US and Canada all the time and can do it all from my phone. The bank charges me about $35 to do it.
              Note: I'm in Australia.
              Maybe PayPal is an option as well?
               
            • 1967formulaS

              1967formulaS Well-Known Member

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              Just make sure the guy is, who he says he actually is. Scams and all....
               
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              • 44070dart

                44070dart Well-Known Member

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                thanks... I was just looking for a fast answer last night if anyone had actually done this .. I went to RBC this morning and ordered the cash ( they may not have that much cash in large bills at the bank so they need to order it )..I didn't know how much US cash I would need because the rate varies as does the fee they charge to do this and I didn't want to declare the money at the border ( they know enough about us as it is) so I had to bring less than 10k .. not so sure you can bring more than 10k if you split it up between two people in the car ..they may have an issue with that.. I'll have to ask some other time, not now .. last time I brought 13k USD and they came out to the car where the money was to count it ..my wife was sitting there and after counting they asked her if she had any more ?? ....doing a face to face with the guy in Ottawa, this guy just wants CND nothing else, then I will transport it back, I have the two necessary forms from DOT .. so I'll soon be off to the great white north ..good beer eh. (love that 20% discount)
                 
                Last edited: Sep 20, 2017
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                • 4spdragtop

                  4spdragtop FABO Gold Member FABO Gold Member

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                  You can bring as much as you want. You just have to declare it or it can be seized and/or penalized.
                   
                • 89on35s

                  89on35s Inferno Red Duster FABO Gold Member

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                  Remember to declare it for sure. They may detain you if they find it. They will definitely have questions for you either way. My experience was the other way around. I needed US funds to purchase my car in Texas. I had a bank draft made in US funds and gave it to the seller when I picked up the car. There was a cost involved but it cleared up any concerns with large amounts of cash being handled.

                  Cley
                   
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                  • Riddler

                    Riddler Project EH-Body

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                    I work at the border. You can bring whatever amount of money into Canada as you want but if it over 10,000cdn or equivalent in foreign funds you must declare and do a FINTRAC form. Super easy... in fact we fill it out, you just sign.

                    DO NOT structure your money. ie: I have a friend hold some. It's just a form of smuggling and it'll be seized as proceeds of crime.

                    The seller only wants cash, so I'd do what you did, go to Canadian bank and pay the conversion fee. It's crappy but to buy that car you just have to do it. Unless he'll take a bank draft....

                    Good luck on your car purchase.

                    Riddler
                     
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                    • cannucky

                      cannucky The Guy With No Birthday

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                      all decent ideas but your going to get clipped on the exchange , best way to avoid all the headache is take your Credit card , most don't charge a fee for conversion , best exchange rate you will find will be at a border casino if it has to be cash but you can walk into the sellers bank and do the deal right into his bank account with your credit card if he's only wanting cash to avoid cheques or money orders which take time to clear , then the card company will bill you in US finds when you get home ,simple and you don't wind up under a corn field for your cash .
                       
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