Transfer USD between investment and bank w/o converting back to CAD?
Hypothetical situation: Let's say you have an investment portfolio with a Canadian investment firm or bank. (For the sake of the example, let's say CIBC). Within your portfolio, you have a non-registered investment account with holdings in USD as well as CAD.
Is there any way to transfer USD funds between that investment account and a USD bank account, without having to convert back to CAD in the interim and incurring double FX fees? If so, what might that setup look like?
I suspect the answer is no, but I figured I'd ask if anyone has encountered this before.
Is there any way to transfer USD funds between that investment account and a USD bank account, without having to convert back to CAD in the interim and incurring double FX fees? If so, what might that setup look like?
I suspect the answer is no, but I figured I'd ask if anyone has encountered this before.