Show HN: I built a site to compare fees and rates for sending money abroad

Post by ddtaylor » Thu, Aug 29, 2019, 9:06 AM UTC

Post by jlizzle30 » Thu, Aug 29, 2019, 3:24 PM UTC

Scoundreller wrote: post #65

jlizzle30 wrote: post #52

This is great! Would have definitely help me out when I moved to the US. People don't realize the fees banks charge for currency conversion is not the entire story. My bank offered me 'no-fee' CAD to USD transfers but were giving me a 5% worse exchange rate than competitors. Be careful out there!

For larger amounts, look into “Norbert’s Gambit”. Basically, but a stock that trades in Toronto with CAD, call your broker to move it to the US side, then sell it for USD. Convert any amount for 2 brokerage charges (2x$10 for me). Yes, it exposes you to stock market fluctuations for that stock for a few hours or days (depending on your broker), but at least you get to stay in the market instead of the money being “de…

Post by Rulero » Fri, Aug 30, 2019, 6:24 PM UTC

ddtaylor wrote: post #71

Would you consider adding cryptocurrency exchanges as an option?