hello all, whats the cheapest was to send 100k to canada? tried xoom and othet but the rates are bad
Free wire transfers with a Chase Sapphire Checking account.
Is doing multiple smaller increments via Venmo, PayPal, Square Cash, Zelle, Apple Pay, etc not a viable option?
Given its like $5k max to send within a week or something on each platform, that'd take a bit.
Don't do this. You may be flagged by the FBI for structuring. Look it up but it's basically a red flag for money laundering.
Interactive Brokers.
Through stock exchange
Transferwise
transfer wise charges 500 dollars for 100k
That sounds about right. 0.5%. Are you saying other people do it for less? Obviously have to take into account the fx rate too. Transferwise has what I consider to be a pretty small fx buy sell spread (<0.1% last time I checked, I think).
Revolut or transferwise. You'll need to subscribe to an annual plan on revolut to transfer that much at once but the conversion rate will be better... Pretty darn close to market rate of you do it during business hours
Write a cheque from the US. Open a USD account in Canada. Deposit. If you want to exchange the currency then read up on Norbert's Gambit.
Norbertās Gambit is the only answer for exchange. Iād wire the money unless you can walk that cheque into the bank in person.
I never bothered looking up how to wire money. I just write myself regular ol' cheques and deposit them. Banking between US and Canada is actually pretty seamless.
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May become 50k when it arrives
That's a lot of volatility in the few seconds it takes to transfer lol