Wire transfer US funds into a US company

[rslater]

My business is making around a $17,000 purchase from a US company for piece of equipment. We have to purchase it in US funds into their US bank account, so I was just wondering with the exchange rate and fees what was the best avenue to go.

I have both a business account with RBC and Coast Capital. Will we get the best rate from converting our Canadian money at the bank into a US money wire, or should we withdraw the money ourselves, convert it elsewhere and deposit it back as US funds for a direct transfer? Would we get a better rate at any private companies (Western Union etc)?

[bluejays]

I know my mom converts quite a bit of money for work, if I remember correctly a private company can give you a better rate depending on how much you want to convert. In your case $17,000 I'm pretty sure they would give you a better rate then a bank would

[4444]

Vbce

Moneyway (now only in park royal) is good too

I'll need to bring a registered/certified cheque though, so call beforehand to make sure you have all ur points in line

[kluk]

I work for TD and usually when customers come in that do currency exchange for more than 10k we call/book in a better rate for the customer by calling our foreign currency department (usually matching all the other offers or even beating it by a little). I assume it would be the same for RBC. Just tell the RBC staff that the rate you were offered was whatever that is being shown on vbce.com (usually its the best rate there) and see if they can match/beat it.

[Drow]

VBCE usually has the best rate, if not its pretty up there.