Canadians - USD Banks / Converting Funds

[PatInTheHat]

I know there are a lot of threads on this but I have still been having trouble getting the information i've been looking for.

I spent a bit of time today figuring out what im going to do with my funds now that the exchange is low, party sucks for conversion and cashout methods.

I believe the best route to go at the moment is to keep extra funds in a USD account.

Best options i've found:

ICIC HiSave Account - 5% Intrest
(I'm not sure how bad this is but "US Dollar deposits are not insured by CDIC.")
http://www.icicibank.ca/personal/per...nts/hiSave.htm

ETrade Canada - 4.75%
https://www.canada.etrade.com/splash/COIA.shtml

ING - 3%
http://www.ingdirect.ca/en/save-inve...isa/index.html

I think for the time being im going to start with an ING account as they also offer a fairly good exchange rate.(better then party typically) The rates were close today but sometimes Party's exchange is just an absolute rip off. I will also open an ICIC and give it a try.

My plan is to Bank Wire funds to a CIBC USD account so they can be transfered into the ING or ICIC account. This step is nessesary I believe as neither ING or ICIC will accept wires.

If anyone has any experience using the above banks, ideas for converting funds cheaply or any other comments/advice please feel free to post.