Canadians - any way to get around the -EV Exchange Rate?

[MrBlueNose]

The exchange rate right now for US -> CDN sucks. There was a grand old time where US $1600 would be as much as $3200 CDN, but not now....now $1600 is only $1800 CDN.

Is there any way to get round this? ie: get an account at a bank where I can deposit in US Funds, and store them till till things get better?

[Gildwulf]

I have parents living in Boston and use that address. I have an American Neteller account, American bank account and I live in Canada. Problem solved.

[4thstreetpete]

Yeah it sure sucks although I don't ever remember a time when US funds were so good that you'd get a 200% exchange rate. I remember cashing out 1K and get back something like 1.5K+.

Getting a US account is one way to go but why not just leave it in Neteller? Do you have neteller set up in US funds? you should. Looks like we have to wait it out until our CDN dollar goes down but this could take a while. [img]/images/graemlins/mad.gif[/img]

[Wires]

If you're looking to stash your money and wait for the CDN dollar to drop to 64 cents US again you're going to be waiting a long time.

Most analysts I've heard are predicting the dollar to top at 90 cents within the next year. You have to remember that the dollar dropping that low was not the norm - the CDN dollar exceeded the American dollar prior to the eighties.

You are better off withdrawing the money and investing it as opposed to waiting and praying for the dollar to plunge.

Also I think your recall is a little fuzzy. We were never getting the exchange you described in your OP - it was good... but not that good.

[Yads]

I have a free US chequing account and an ING US bank account which pays 2.75% interest.