Tuesday, July 3, 2012

Banks Cash In On Anti-terror Rules

Sometimes I exchange CAD money I make in Canada into US$.  Over the years I've watched USA banks get more and more restrictive.  Now they no longer just exchange cash, you must deposit it into your account and then they will convert it it to US$ for you to withdraw.  The paperwork is tedious and time consuming. This is to keep a paper trail so the banks can "fight terrorism."

Here is the xe exchange rate -



750.00 CAD=737.287 USD
Canadian DollarUS Dollar
1 CAD = 0.983049 USD1 USD = 1.01724 CAD
Convert againUSD/CAD thumbnailView ChartMid-market rates: 2012-07-02 19:34 UTC

My bank gave me .9269. or $695.19.  Nearly $40 in fees to fight terror.  the banks do not care if tedious rules and regs are made for you and me, they just add fees to jack up income to cover their time spent.  We just lose more and more.  And the terrorists keep winning.

The world has always been a dangerous place. Once upon a time we knew how to behave.  Not any more.  I'll spend money I make in Canada in Canada from now on, it's not worth it to bring it home.

Feel free to forward this by email to three of your friends.


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