Personal Finance

Exchange USD to EUR Etc.

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  • Mar 4th, 2019 10:11 pm
Deal Addict
Dec 25, 2005
2343 posts
433 upvotes

Exchange USD to EUR Etc.

Anyone know how to do this or what company does this, without needing the USD to be converted to CAD then CAD to EUR?
6 replies
Deal Addict
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Nov 18, 2007
3531 posts
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Corktown
I have used XE.com in the past. They will take US$ from my BMO US Dollar account and wire Euros to my Scotiabank Euro account.

(No fee on the BMO end, but Scotiabank charges 15Euro to accept the wire transfer. XE use to send Euros by cheque - not anymore.)
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Aug 18, 2005
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Burlington-Hamilton
bellboy26 wrote: Anyone know how to do this or what company does this, without needing the USD to be converted to CAD then CAD to EUR?
Are you going to Europe? Maybe you can exchange USD cash to EUR in Europe.
If it's in a bank account, maybe you should just spend the USD.
- casual gastronomist -
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May 8, 2009
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Going to the Moon
Open USD bank account in the US and exchange there.
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Sr. Member
Jul 25, 2010
741 posts
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Vancouver
If you're changing a lot of money, you can set up an account with Interactive Brokers and do Forex trading with them. The spread + commission is practically nothing, especially compared with other places Ex. Questrade 2%.
https://www.interactivebrokers.com/en/i ... =1590&p=fx

For smaller amounts, you can look into Transferwise: https://transferwise.com/ca

Example fees in USD to exchange 100k USD to EUR which roughly includes the spread + any other fees
IB Forex: $2
Transferwise: $385
Questrade: $2000 + $18
Credit Card: $2500-$3000
Airport: $5000-$10000+
Member
Sep 8, 2010
431 posts
139 upvotes
Chambly
How do you get the Euro out of IB once converted?
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May 8, 2009
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Going to the Moon
mcu wrote: How do you get the Euro out of IB once converted?
Deposit to EUR savings account at BNS, NBC, TD CT or elsewhere?
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