What’s the cheapest way to convert and transfer $10,000 USD to CAD or EUR?

I went to my Bank of America to make a 10k USD transfer and the rate was insane compared to the market rate (over 3% off the live market rate, so costing me $300 at least, plus the wire fee). Should I convert it to the receiving currency first? I don’t know what to do.

I’ll have to do this transfer every other month so I’m looking for a cheaper way to do this.

Thanks for your help.

August 27, 2017 at 04:40PM