I'm canadian on party, way to avoid the exchange rate?

[Lawrence Ng]

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Open up a US$ Bank account at your bank. Use that account to receive withdrawals from Party. If you really don't like getting screwed by the exchange rates of the banks then goto a currency exchange store that offers a better rate when you withdraw US$ from your bank and then redeposit into your Cdn$ bank account.

It's a bit of work, but you can save a bit of money doing it this way.

Lawrence

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Hey Lawrence, can you give an example of a "currency exchange store" that offers a better rate than typical banks? I always thought those currency exchange places charge even more to make money exchanges than banks do.

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This involves a little bit of hunting, but basically you go around to different currency exchange stores and compare the rates. My bank usually gives a -2.7% difference in exchange compared to the XE.com rate. There are a couple of stores in Vancouver that are only -1% different from XE. So that means I save about 1.7%. The only minor hassle is getting all the cash in US$, taking it to the store, converting it to Cdn$ and then redepositing.

Lawrence