Are you a member of the Canadian Snowbird Association? If you’re not, now might be a good time to check out all the programs and benefits they offer Canadian Snowbirds — like their Currency Exchange Program.
Today the U.S. dollar is trading above $1.32 Canadian dollars (or 0.7575 CAD/USD). (From the Bank of Canada.)
That’s approximately 20% more than the exchange rate we experienced last year around this time: $1.09 (or 0.9174).
What does this mean for you?
Everything that you will purchase in the U.S. could be 20% more expensive this year, over last year, based on the USD/CAD exchange rate alone. **
We recommend that our members consider enrolling in the Snowbird Currency Exchange (SCE) Program.
The program offers preferred exchange rates and minimal to no-transfer fees, depending on your CSA membership type.
If you compare the rates over the last year, you’ll notice the SCE rates have been consistently over 200 basis points better than the average of the competition — 3 leading Canadian financial institutions.
If you had transferred $2,000 last month, you have saved approximately $40 on the exchange rate alone PLUS all the savings on the different types of transfer fees.
- CSA Members — $2 per transfer
- Non-CSA Members — $5 per transfer
- Lifetime Members — Free
When compared to other methods of exchanging and transferring funds to the U.S., we believe that the SCE Program offers the best solution and value to our members.
In addition to excessive exchange rates and transfer fees charged by the competition, some banks in the U.S. will charge an international transfer-in fee, typically a $15 charge.
Transfers received from the SCE Program WILL NOT be charged international transfer-in fees — it’s that good!
There’s still time to enrol in the SCE Program before the October 1st transfer.
The Canadian Snowbird Association
The Voice of Travelling Canadians
** Please note:
This email and information contained herein is not a guarantee, prediction or an estimate of future exchange rates or the performance of the Snowbird Currency Exchange Program. The purpose of this email is to compare approximate current USD/CAD exchange rates to the exchange rates experienced around this same time last year