This question is in regards to exchanging larger amounts, such as for a car or house purchase. Not something you want to go to the ATM for.
When you deposit or cash a US or Canadian check at one of the local banks, can you check on the rate of exchange before you get there? Is the rate fixed even before the check clears?
How far from the interbank rate is the exchange rate you are getting?
For example: The interbank rate for Canadian to Peso is 12.02
The interbank rate for US dollars to peso is 12.32
The exchange rate I received at a foreign exchange bank today, for Canadian to Peso is 11.88
How can I compare this rate, on line, with what I would get just cashing a check at Intercam? Does the rate change, depending on the amount of the check?
I think we had a similar post to this, about a year ago.... however the focus was on smaller amounts for day to day living, not larger amounts where exchange rates can make a huge difference.