Personal Finance

Urgently need USD

  • Last Updated:
  • Jul 21st, 2016 7:35 pm
Jr. Member
Oct 25, 2005
172 posts
1 upvote
Toronto

Urgently need USD

Banks appear to be at spot plus about 4 cents, would cost me $400 per 10K which Ill rather not lose.

Anyone have experience with the Downtown Chinatown FX changes or any other better options, need to change about 15-20K by end of day tomorrow.
8 replies
Jr. Member
Dec 18, 2012
140 posts
72 upvotes
Brampton
eejikes wrote: Banks appear to be at spot plus about 4 cents, would cost me $400 per 10K which Ill rather not lose.

Anyone have experience with the Downtown Chinatown FX changes or any other better options, need to change about 15-20K by end of day tomorrow.
Cash Now MaltonOPEN
7171 Goreway Dr, Mississauga, ON L4T 2T5
905-673-2274

Try them.. they're reasonable. Call them before you go there.
Deal Addict
User avatar
Dec 17, 2008
2781 posts
2300 upvotes
Winnipeg
How do you not know you need 20k in USD more than a day before? Seems like some preplanning could have happened. Just seems odd
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Sr. Member
User avatar
Jul 9, 2016
674 posts
276 upvotes
Toronto
Shawguy wrote: How do you not know you need 20k in USD more than a day before? Seems like some preplanning could have happened. Just seems odd
Ditto. And even a lot of banks need to place an order for over $5000
Deal Guru
User avatar
Mar 23, 2008
13006 posts
10009 upvotes
Edmonton
Or a small ransom...

C
Deal Fanatic
Feb 15, 2006
9183 posts
3861 upvotes
Toronto
eejikes wrote: Banks appear to be at spot plus about 4 cents, would cost me $400 per 10K which Ill rather not lose.

Anyone have experience with the Downtown Chinatown FX changes or any other better options, need to change about 15-20K by end of day tomorrow.
If you want spot rate, just have $10M to do the exchange. Otherwise if you have a brokerage account, they allow conversion from Cnd to US, over $25,000 at the mid-rate. It's better than the bank rate. But you'll also need a way to transfer the money from brokerage account to your bank account. You won't have time to do this this time, but you can set things up for next time.
Jr. Member
Oct 25, 2005
172 posts
1 upvote
Toronto
Thanks all, went with http://www.interchangefinancial.com/con ... orth-york/ they were close to me and had the physical cash. However I called every fx place to get comparative rates and only then did I lock in with interchange with a confirmation number.
I advise anyone who wants to buy FX to never do it in a rush like me, do your research, monitor the bank of Canada site for the 5 day trend, and use http://www.knightsbridgefx.com/ they have the absolute best rates but the don't have physical locations so you need to wire money to their BMO account and they wire the funds to your USD account.

My two cents :-)

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