Yep, that'd be the link. They do deposit in local currency like you said at the calculation rates for that date.Mike15 wrote: ↑ If I had to hazard a guess, Canada is making the payments in CAD, and the rate converted would be determined by the recipient bank.
Guess I was wrong though, they do deposit in local currency for a number of countries,
https://www.tpsgc-pwgsc.gc.ca/cgi-bin/r ... Language=E
I don't know if this is a markup over the previous day's BoC rate, or if it's something else altogether.
To the person who asked that question, you are most assuredly better off taking advantage of the exchange rate determined by Service Canada, who likely uses the Bank of Canada's noon rate with a modest premium (if any). Unless you don't need the money, I would close all your Canadian bank accounts anyway especially since all the FATCA complications.
Cheers,
Doug
Banking & Savings: Tangerine & EQ Bank
Credit Cards: American Express SimplyCash, Rogers World Elite MasterCard, Scotiabank Scene+ Visa (wasTangerine Money-Back World MasterCard)
Investments: Scotia iTRADE | Pension: Municipal Pension Plan
Credit Cards: American Express SimplyCash, Rogers World Elite MasterCard, Scotiabank Scene+ Visa (was
Investments: Scotia iTRADE | Pension: Municipal Pension Plan