How does This work??

[son3disfan]

Can someone explain how $1000.00 Canadian only gave me $1056.00 US when the exchange was at $1.096??
I get the service fee stuff... but come on!
The rate calculator I used on line says $1078.00, then take off bank fees for transfering money into American ( say 2%) . I feel like I didn't get the best deal.
Hey, don't get me wrong... It's better then LOSING money...but I just can't figure it out
Anyone care to share?

 

[OnMedic]

Can someone explain how $1000.00 Canadian only gave me $1056.00 US when the exchange was at $1.096??
I get the service fee stuff... but come on!
The rate calculator I used on line says $1078.00, then take off bank fees for transfering money into American ( say 2%) . I feel like I didn't get the best deal.
Hey, don't get me wrong... It's better then LOSING money...but I just can't figure it out
Anyone care to share?

I think it is based upon the closing rate the day previous, then the service fee is usually around 2%. That is what I am under the impression with Scotiabank.

 

[CanadianGuy]

1078$ minus 2% = which is roughly 21.56$ .. = 1056.44$

Pretty much what you got right?

The rate was 1.08 or less most of yesterday..



Knox

 

[son3disfan]

Thanks...

I see now...

ANY extra in my pocket is OK with me!

 

[Calgary DISHeads]

I hear you - that's the challenge - DH went to change money when the high hit $1.10, it was $1.036 at BOM - although it's all good, it still dampens the spirit a bit....