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Norbert's Gambit with ScotiaiTrade to exchange from CAD to USD

  • Last Updated:
  • Jun 1st, 2021 8:28 pm
[OP]
Member
May 19, 2017
393 posts
211 upvotes

Norbert's Gambit with ScotiaiTrade to exchange from CAD to USD

I'm following a step by step of an old documentation from 2013 (see the link below). I'm wondering why it's required in step 5 to call Scotia and speak to a trader to sell the DLR.U if the transfer requested from step 4 is successfully done. Can I just sell the DLR.U in the US accounts myself?

https://www.pwlcapital.com/wp-content/u ... linked.pdf
2 replies
Deal Addict
User avatar
Mar 12, 2005
1927 posts
231 upvotes
i'm with Scotia and did this previously. its actually very simple with that form you submit. there is no need for step 5 if step 4 goes smoothly. takes about 2 or 3 business days
Sr. Member
Dec 8, 2010
642 posts
263 upvotes
Markham, Ontario
sumrandomguy wrote: i'm with Scotia and did this previously. its actually very simple with that form you submit. there is no need for step 5 if step 4 goes smoothly. takes about 2 or 3 business days
Unfortunately, I was not aware of this Norbert's Gambit prior to buying and holding a USD stock under my CAD RRSP account. What is the best cost-effective way to transfer it to USD RRSP account? Will I get a FX fee by transferring using the Additional Service function?

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