Dive dive dive!!! (USD -> CDN)

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Canadian here.

Was at the bank today and the teller bitch told me to open a "USD only checking account" for my USD checks ... so the manager opened a USD checking account for me and I deposited my checks in there.

But what's the purpose? Is there even a purpose? Why can't they just convert USD to CAN and put it into my checking account.

I didn't bother asking since it took 5 minutes and was free of charge.
 


If it's at TD you don't want the free one you want the $5 one. The point is you get a better rate when you exchange it yourself online rather than right away at the bank. Roughly 1 cent more over their regular. So let's say on $20k you get $200 extra instead of giving it to the bank and it only costs you $5 a month. Sounds like you prolly opened up some crummy account just to hold usd funds, dunno which bank this was at but you should've asked for one that gives you a better rate.
 
Hey anyone know any good Canadian Sites for stocks? and on a somewhat related note, anyone know any good virtual sites?
 
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