I live and work in the United States but I have several loans in Canada that I need to pay on a regular basis, so I'm constantly moving money to Canada.
Right now, I have an American Royal Bank account linked to my Canadian Royal Bank account. I transfer money from my Chase Bank account to my American Royal Bank account. Then, a few days later when the transfer has taken place, I transfer it between the two Royal Bank accounts.
I'm wondering if there's a cheaper way for me to move my money, maybe with a better exchange rate or less fees. When I first looked into this, I remember there being a significant fee for an international wire transfer, but maybe the exchange is better?
Right now, I'm moving about $1000 every month or two. I'm wondering what I'll do if I get a big bonus and I want to move ten or twenty thousand dollars at once. Maybe there's a dollar amount when it becomes cheaper to use another method?