Stock Trading Fees, Commissions & Interest Rates Scotia ...

My credit card plan

Hello! So during school I was lazy for the most part regarding my banking, and now that I've graduated and I have a real job I want to sort out my financials and make sure I am getting the most out of my spending. Currently I have 2 credit cards, an RBC Signature Rewards and Scotia's Scene CC with credit limits close to $10K each. I am planning to cancel my RBC rewards because I'm in the process of switching out to TD and I'm not going to pay the $40 annual fee to keep the card, and as for my Scene it gets me good points but I don't got to Cineplex often and they keep jacking up the Scene redemption rates.
My monthly expenses are roughly as follows:
This is what I plan to hold (upon approval of course):
Simplii Cash Back Visa - Use exclusively for 4% on restaurants (I'll have to open an account with them tho, which is fine because I can churn and get $200 for opening one)
Tangerine MC - 2% back on the recurring payments + maybe gas? (IF I get approved that is)
Rogers WE MasterCard - $0 annual fee, 1.75% on everything, 2% on my Fido bill (in case I can't get Tangerine), 4% on Forex when I travel and online purchases + WE benefits. I don't make $80K but I feel like my combined household limit is $150K but I need to double check this.
And my fallback option if I can't get the Rogers WE is to go for the SimplyCash and get 1.25% on the rest of my purchases. I saw somewhere that the Amex Cobalt was good but I got confused on how the redemption works and I don't think be positive enough over the $120 annual fee for it to be worth it. Also I was exploring the TD and Scotiabank offers and they didn't seem to entice me as much as the Rogers WE, and I can get TD's annual fee's waved because I can put $5K liquid as my emergency funds in a No Limit account and avoid banking/CC fees. I could do the same for Scotia with their new account, but I am wary of them because I've heard stories on here about them being poor to deal with.
Thanks for looking and I'll appreciate any advice on cards that I may have missed!
submitted by fatcowxlivee to PersonalFinanceCanada [link] [comments]

Large overseas windfall

Hello,
I will be receiving a large overseas windfall from the UK to Canada as inheritance from my late grandmother. I know there is a ton of post regarding what to do with windfalls etc., I already have that figured out.

My question is, what is the best way to receive approx $70k in a lump sum payment from GBP to CAD? TD and Scotia both assure me that they will only charge a wire transfer fee, but the reality is they will not give me as good a rate as dedicated forex providers and I have no doubt I will therefore be giving a small % of that money to them if I accept a direct wire transfer into my bank account.
My current situation is that I do not have a UK account, but I need account details to give to the lawyer taking care of her estate. Is it possible for me to remotely set up an account with a forex broker into which can receive a direct payment in GBP, then buy CAD? AFAIK a normal setup with a forex broker would be to set up an account with them then inject money myself.
Does anybody have any experience or advice on this matter? Should I just go with the "safe" option of a direct wire to my bank, and will it cost me thousands or pennies? Cheers
submitted by throwaway_forex to PersonalFinanceCanada [link] [comments]

Cheap-ish Foreign Exchange (CAD->EUR)

This may help for those looking to get Euros on the cheap.
Most of you know the trick that involves pre-loading your credit card (preferably one with no forex fee) with a positive CAD balance and then withdrawing cash advances at a European ATM when you arrive in country. The European ATM spits out EUR for you and you're only charged ATM/cash advance fees that work out to around $5-10. This works well but is impractical for larger amounts of cash as you're limited per day to whatever the cash advance limit on your card is (in CAD).
I am travelling to Europe shortly and needed to figure out a way to obtain a larger quantity of Euros for the lowest possible exchange. For various reasons it would not be possible in this case for me to do the cash advance ATM trick. I should note that I have a relationship with one of the big-5 banks which nets me a considerably better exchange than offered to their retail customers, but the rate was still not great (about 2% markup.) So I had to find another solution. I found foreign currency ATMs in Toronto which will spit out EUR but unfortunately they debit your account in CAD and charge an insane markup (it was 9% at BMO's foreign currency ATM!!). I do not have an EUR brokerage account so could not do Norbert's gambit, either.
So what's the solution?
Scotia offers a Euro-denominated savings account for a very reasonable fee of $1 euro per month. If you open that account and obtain the wire information, you can use a foreign exchange service like XE.com or Knightsbridge to get an extremely favorable exchange. These services basically do an EFT debit from your CAD bank account and then send a wire transfer to the recipient (in this case your own Scotia EUR account). You can then withdraw euros in cash. The exchange rates are VERY good (much less than 1% markup). Scotia charges $15 CAD for receiving the wire transfer and that's about it. Took me like 15 minutes to open the EUR account.
Hope this helps someone out. This can make a huge difference on larger transactions. One note is you have to call the branch before withdrawing large quantities of EUR as they likely won't have enough on hand - takes some time to order it in.
submitted by nsandwich to churningcanada [link] [comments]

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Take a look at the table below to see Scotiabank’s exchange rates. When looking at the table, “buys” refers to how much Scotiabank will pay you for your foreign currency while “sells” is how much you’ll pay to buy currency. This table was last updated on 5 March 2019. Learn about why you should compare this exchange rate to the mid-market rate . The best way to figure out whether ... View Scotiabank's buy and sell foreign exchanges prices/rates for popular currency pairs and Foreign exchange rates apply to non-cash transactions up to $9,999 See the latest foreign currency exchange rates and fees. Checkout Currency, Cash and Cheque BUY & SELL Rates for popular currency pairs against Trinidad & Tobago Dollar(TTD). Scotiabank MasterCard; Benefits & Rewards. SkyBOX; Tools and Advice. MasterCard Benefits Comparison Chart; Additional Card Requests; Card Watch: 7 Ways to Combat Credit Card Fraud; Will That Be Debit, Credit, or Cash; Smart Use of Credit; Credit Checklist; MasterCard Terms and Conditions; Credit Card Rewards Calculator; View All. Borrowing . Loans. Scotia Plan Loan; Auto Loans; Lines of Credit ... We bring you competitive interest rates every day, and from time to time we also offer special promotional rates on a variety of products. See the latest foreign currency exchange rates and fees. Checkout Currency, Cash and Cheque BUY & SELL Rates for popular currency pairs against Jamaican Dollar(JMD). Foreign Exchange trading is convenient, quick and secure with ScotiaFX™ – our online trading platform. Please be advised that this website will be de-commissioned at a future date. The rates on this page are against Canadian dollars, apply to non-cash transactions up to $999 and are provided for information purposes only. Please read the additional notes at the bottom of this page. Although up-to-the-minute rates may be obtained by contacting a local Scotiabank branch, rates can only be guaranteed at the time the purchase or sale is conducted. Rates are provided for ... Prior to joining Scotiabank, Shaun was a currency strategist at another Canadian bank in Toronto. He also he worked at MCM CurrencyWatch in the UK and served as a G7 currency analyst and economist for Thomson Financial Network/Tech Data in London and Paris. He wrote regular FX market reports for La Tribune de l’Expansion, a French-language financial daily and he is frequently asked by ... Margin interest rates were last updated February 22, 2016. Please call our Customer Service team for current rates at 1-888-872-3388 . To qualify for commissions of $4.99 flat per Canadian or U.S. equities trade and $4.99 + $1.25/contract for each options trade, you must execute at least 150 commission-generating trades within a calendar quarter.

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