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In addition to the real-time currency conversion feature stated in the other answer, the debit card can be used to withdraw foreign currency directly from a foreign currency account of TransferWise borderless account. This means that if you are from the US and are planning to go to Europe 6 months later, you can buy the EUR today, park it as the EUR ...


1

Even if your credit card has no foreign fees, you'll be paying money to exchange currency because of the spread. For example, look at Visa's exchange rates using their calculator. If I'm spending dollars on a euro-based credit card, for today I'll get 1.128601 dollars for one euro. But if I'm spending euros on a dollar-based card, for today I'll spend 1....


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Kate's answer is good, but there is one other scenario where this may be disadvantageous. You may or may not want to actually accept the Interac e-transfer... Perhaps someone has sent you too much money (say a friend) or someone has not sent you enough money (perhaps relating to a business transaction). Automatically accepting the money may commit you, to ...


0

So far the fastest way I've found is by transferring my money from my bank to the investment broker. This has 2 advantages. The money shows as debited immediately, rather than 2 business days later, which is what would have happened if I initiated the transfer from the broker's side. The money shows up the next day, which doesn't hurt me massively since I ...


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