Investing

USD to CAD conversion

  • Last Updated:
  • Feb 5th, 2020 12:30 am
[OP]
Newbie
Mar 26, 2017
86 posts
111 upvotes

USD to CAD conversion

Hi,

I recently was able to secure an accepted offer on a condo sale. I'm in the process of putting my funds together for the deposit and will have to sell my USD securities. Anyone know or have suggestions on what the best way to convert $35k USD to CAD is, banks charge a hefty amount to do that and I'm trying to save as much as I can.

I'm located in downtown Vancouver if anyone would like to meet at a financial institution to exchange USD to CDN via cash to avoid any related exchange fees.

Thanks!
2 replies
Newbie
Mar 24, 2018
58 posts
47 upvotes
Deposit your USD into your brokerage account (you'll need one that allows you to hold USD).
Buy DLR.U.TO in your brokerage account using your USD.
Have DLR.U.TO journaled over to DLR.TO through your brokerage (might have to phone them to get this done).
Sell DLR.TO to get Canadian dollars.
Withdraw your Canadian Dollars from your brokerage account.

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