Where to keep USD/how to move it there (Simplii USD account)
I made the mistake of relying on simplii to get some USD from abroad. Called several times in advance, Was told $10 to accept wire transfer. Ended up paying $45 USD because oops they use a middle man. Whatever.
Now I cant withdraw it in cash. They wont transfer it easily to other banks. Simplii usd/cad exchange rate isnt great.
I Need to wire it somewhere. Or get a money order/bank draft(good luck depositing usd). Would it be stuck at the new bank too? Is it simplii that is messy/backwards or all banks when it comes to USD?
Currency exchange is also complicated. I’ve heard of knigthsbridgefx. Called them once, no option to do anything online. rude people. And again i need to wire it in. Takes days. Then They deposit the money into my account. Exchange offices in the city only accept cash. I would do it but i cant get my cash out.
Alternative is to forget about usd. Exchange it into CAD online and pay simplii 2-3% hidden cOnversion fee and stay in CAD. Not happy that usd has been falling while i was trying to find out what simplii can and cannot do.
Am I missing something. Any suggestions? I’d like to keep it in a savings account or invest in some low risk stuff. Why is USD treated like some weird uncommon stuff here?
Oh Simplii’s savings account has an amazing 0.1% annual interest.
Now I cant withdraw it in cash. They wont transfer it easily to other banks. Simplii usd/cad exchange rate isnt great.
I Need to wire it somewhere. Or get a money order/bank draft(good luck depositing usd). Would it be stuck at the new bank too? Is it simplii that is messy/backwards or all banks when it comes to USD?
Currency exchange is also complicated. I’ve heard of knigthsbridgefx. Called them once, no option to do anything online. rude people. And again i need to wire it in. Takes days. Then They deposit the money into my account. Exchange offices in the city only accept cash. I would do it but i cant get my cash out.
Alternative is to forget about usd. Exchange it into CAD online and pay simplii 2-3% hidden cOnversion fee and stay in CAD. Not happy that usd has been falling while i was trying to find out what simplii can and cannot do.
Am I missing something. Any suggestions? I’d like to keep it in a savings account or invest in some low risk stuff. Why is USD treated like some weird uncommon stuff here?
Oh Simplii’s savings account has an amazing 0.1% annual interest.