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    Currency Conversion to Canada for US Resellers

    Discussion in 'Reseller Feedback Forum' started by aylmer, Apr 30, 2012.

  1. aylmer

    aylmer Notebook Geek

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    Can some Resellers chime in regards to currency exchange to Canadian $ Funds, looking to purchase the 150EM w/upgrades
     
    aylmer, Apr 30, 2012
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  2. MALIBAL

    MALIBAL Company Representative

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    MALIBAL, Apr 30, 2012
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  3. molTenLead

    molTenLead Notebook Consultant

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    Unless there is something special with what you are doing, it's your bank that will be doing the conversion from CAD to USD. I'd recommend that you check with them.
     
    molTenLead, May 1, 2012
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  4. JBoneCapone

    JBoneCapone Notebook Enthusiast

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    Generally when you purchase something in another currency credit cards charge you an extra 2.5%, but call to confirm the exact rate.
     
    JBoneCapone, May 1, 2012
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  5. Reflexnotebook

    Reflexnotebook Company Representative

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    Hey guys,

    I do this on a daily basis. So let me try to help.
    What you need to do is one of the following.

    1) Call your local Canadian bank and ask them how much it costs to buy one USD with Canadian dollars. They will give you the rate. Or go to a local mall or store that will do currency exchanges and ask them. they follow close to what the banks offer for currency exchanges.

    Or you can get really close to the real number by doing this.

    2) Go to EX.com and see what the stock market price is.

    Example,
    Today’s stock market price is 0.989. We will round it out too 0.990 to make this easier.

    Which means in simple terms to buy one USD it will cost the stock trader’s 0.99 cents Canadian to do so.
    Example : they will buy 1$ us with only 0.99 cents canadian.

    However banks will never give you that rate you see online or read about in the paper. Banks will normally charge a 3% conversion fee to change money into another country’s currency.
    “some times less some times more depends on the bank”

    Then just put the numbers together,
    0.99 X 1.03 = 1.0197 witch rounds up to 1.02

    So the candian bank will value one USD at $1.02 Candian.

    So it will cost you $1.02 in Canadian dollars to buy one U.S dollar.

    Another way to do this with large amounts.
    take the bank exhange rate. stockmarket price add 3%.
    .99 + 3% = 1.02

    then take the amount 1500$ x 1.02 = 1530 CAD.
     
    Reflexnotebook, May 2, 2012
    #5