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View Full Version : IGM pay for Canadians: CDN / US exchange


teddyFBI
10-28-2005, 10:37 PM
I asked Party this question and got a reply, but wanted to run it by people here, because I don't really believe them.

I have a Canadian bank account, but it is in US FUNDS. So I emailed Party to ask if when I withdrew to my bank account, it would all stay in USD because my money at Party is in USD and so is the denomination of my bank account.

The rep told me that because I lived in Canada and my bank was here, they would automatically pay me the Canadian equivalent of whatever I withdrew, and didn't even have the option of keeping it in USD. This would suck for me because I would probably lose a few % points just from the USD > CDN > USD transaction if I withdraw to my bank account.

Anyone else in a similar situation who can confirm or deny this? I'm surprised they don't let me elect to keep it in USD, because if I elect a snail mail check, it's in USD (so I could keep doing things that way, but I want to be able to withdraw directly to my bank acct).

(Neteller is not an option).

SlantNGo
10-28-2005, 11:42 PM
Not sure if this is what you're asking, but if you withdraw to a Canadian bank account, they don't charge any currency conversion fee, unlike Neteller and your bank. You get back the exact exchange rate.