Canadian currency

[Downrigger]

I wish I was not over 60, but that is another post.

For you kids I still think the advantages are there. While I can't swear to it, My guess is that you may have a maintenance fee on the account, but that and the check cost should be it. You would still get immediate credit on deposits, a good exchange rate, no fee for the exchange, the use of a debit card (no fee) thus limiting the use of checks. I would suggest you contact the bank, get cost information, and compare that to gains of exchange rate, if any, and convenience of use and see if it may be worth it to you. PM me if you would like a contact name.

Phil

[LOW1]

We have had a an account with a Canadian credit union for years for the reasons suggested by Downrigger. No fees if $1000 ($850 US) kept in it - they pay the same minisscule interest on the balance as does a US bank.

If you are in northwest Ontario, check out or Google Copperfin Credit Union. I am sure there are others as well, although there are not many Canadian banks and they tend to have offices in only the larger towns. You may want to figure out who is closest to the area you travel to.

[Obabikon]

For the record... and those who see this old thread that popped back up... I would not put any type of wager that the Canadian economy will bounce back faster/stronger than the US in the next 36 months.


Just stating my opinion.

[Aspencreek]

Originally Posted by Obabikon

For the record... and those who see this old thread that popped back up... I would not put any type of wager that the Canadian economy will bounce back faster/stronger than the US in the next 36 months.


Just stating my opinion.

well said!

Originally Posted by tv4fish

WOW - We've been going up since 1985 - I sure don't remember that 1.6173 difference back in 2002??????

Sept 18 2002 the US buying exchange rate was 1.63CAD to get 1 USD

[Larry S]

As of today exchange rate is 1.26 Canadian to US dollar

[Wallychowder]

Originally Posted by Larry S

As of today exchange rate is 1.26 Canadian to US dollar

Not to good !

[Obabikon]

Originally Posted by Wallychowder

Not to good !

I would say the exchange rate is pretty darn close to where it should be, and pretty darn close to the 40 year average.

1980 - 1.20
1985 - 1.40
1990 - 1.20
1995 - 1.40
2000 - 1.45
2005 - 1.25
2010 - 1.0
2015 - 1.25
2020 - 1.35




Historically... I would say 1.25 is pretty close to the average.

[Wallychowder]

Originally Posted by Obabikon

I would say the exchange rate is pretty darn close to where it should be, and pretty darn close to the 40 year average.

1980 - 1.20
1985 - 1.40
1990 - 1.20
1995 - 1.40
2000 - 1.45
2005 - 1.25
2010 - 1.0
2015 - 1.25
2020 - 1.35




Historically... I would say 1.25 is pretty close to the average.

yeah i guess thats not terrible, hopefully when and if the border opens it will be hovering around 1.40

[LoDo]

I didn't realize home loans in CND were hovering around 1.5%.