Where to Cash USD Cheque?

[mavvee]

Hi, does anyone know where the best place to cash a USD cheque is? I went to my bank and the rate they quoted me is 1.1435. Is that a good rate? I'm cashing a big cheque so anything better would save me hundreds of dollars ;)

[bobaroo]

Hi, does anyone know where the best place to cash a USD cheque is? I went to my bank and the rate they quoted me is 1.1435. Is that a good rate? I'm cashing a big cheque so anything better would save me hundreds of dollars ;)

well the actual rate at the moment is 1.15714, so your bank is making less than 1.4 cents for every dollar they are converting for you.

[Ron]

it is a good rate right now

The rate could easily change by 1-2% in a day.

[sleepyguy]

BMO had a no charge USD chequing right now which is awesome. I have it with a USD mastercard and just move USD cash back and forth through those. When the rates are excellent i usually deposit a nice sum into the chequing account. -sg