Doug Tyler Posted September 28, 2017 Share Posted September 28, 2017 Does anyone have any experience with this? Knightsbridge or CARP are offering to change Canadian dollars to USD by buying large amounts in bulk. One can deposit $2000CAD+ in their institution and have it redeposited it in your Canadian account in about 48 hours in USD, saving about 2% versus Canadian banks' exchange rates. Quote Link to comment Share on other sites More sharing options...
MarieElaine Posted September 28, 2017 Share Posted September 28, 2017 All banks and financial institutions charge a "premium" on currency exchange. It is essentially a bank charge. By offering you a better exchange rate, the companies you are looking at invest your money for the time they are holding it and possibly make a killing in short term interest income. If it were me considering this option, I would be very careful to do my research into the stability of the company involved. Remember, you are depending on strangers to invest your money in order to offer you a better exchange rate and even the most reliable companies have gone under because of stupid decisions. 1 Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 28, 2017 Share Posted September 28, 2017 (edited) Do you have a link to this group, Doug? Edited September 28, 2017 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Doug Tyler Posted September 28, 2017 Author Share Posted September 28, 2017 https://www.knightsbridgefx.com/how-it-works/ the other is CARP.ca. Owned and run by Moses Znaimer. Thanks Keith 1 Quote Link to comment Share on other sites More sharing options...
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