We assume you want to do a lot of research on US stocks while in Canada.
This is your best chance to raise more money. Although swapping your CAD and USD with Questrade, which charges 1.5 percent both ways, has been manageable up to this point, it has not been lucrative for you (which at least is better than banks, which charge about 2.5 percent). Nonetheless, you can now use Remitbee Currency Exchange for free.
If you only want to swap $100 in your lifetime, you will only get back $2, but if you want to start saving thousands of dollars, you may be losing a lot due to fees.
Consider the following compared to Questrade fees:
- $1000 worth of US stocks: You could be losing out on about 40 CAD profit.
- $50,000 worth of US stocks: That’s about 2,000 CAD you could be losing
If you're hunting for a snowbird home or an investment property, you'll have a big decision to make. This is one of the most important choices you would have to make while buying a house. You must guarantee that a third party does not get undue advantage from it.
Don't let traditional financial firms trap you with unsustainable interest rates in 2020, when the average Canadian house price was $531,000. With Remitbee Currency Exchange, you can save approximately $9,000 USD on this buy.
Banks have been able to charge low exchange rates because they are sure that the majority of their customers will consent. They are quoting you a cost that is considerably cheaper than the market value, but most people are ignorant of this. You can quickly find the actual exchange rate by conducting a Google searcy. Simply type “usd to cad” or “cad to usd” into the search bar.
Furthermore, if you swap at least $10 worth of currency between the two, you will not be charged any fees.
FINTRAC, a government-run financial market surveillance and analysis centre in Toronto, holds an eye on us and audits us. Have complete confidence in your funds.
When you speak with a customer support employee who just offers automated replies, you are faced with one of the most irritating facets of customer service. We’ll let our Trustpilot and Google reviews do the talking.