I need to transfer small amount of USD ($500-$1000) to CAD on a monthly basis. Any suggestions on minimizing forex fees? What's your experience like, using Knightsbridge vs. Wise? TIA!
Wise is the way for speed and usability
Alternatively, if you have access to a US bank or credit union that rebates ATM fees (I used to be a member of one that did this for international ATMs as well) you can just pull it out of an ATM
Sorry, to clarify, I work in US but I'm sending money regularly to my parents in Canada. I'm sick of paying bank forex fees, which was supposed to be temporary (but took me far too long to look into other options!)
You could send them an ATM card and have them pull the money out of the account as needed.
Wise is probably the best solution, I have been using it for last several years
Friend who needs to convert $500-$1000 every month to USD.
This is unironically how I transfer cash regularly
I think I might want to do this. I’ll have to figure out the logistics and tax implications of this first since I am not a US citizen.