Hi all...I have a question and am wondering how others deal with it...
My situation
I'm Canadian and planing on doing the dropship model with shopify and facebook ads. All suppliers want American funds...face book offers the option to pay in either Canadian or American funds. From what I've read Shopify pays in American funds and wires it to your bank account.
I've taken the time to secure an American funds bank account with my Canadian bank. I have also applied for an American funded credit card with my bank.
With the current exchange rate right now at 27% there's a lot of money floating around between the 2 currencies.
Are there anyways to keep my costs down with exchange rates and wire transfers?
Are there anyways to capitalize off of it.
Any ideas or answers are very much appreciated.
My situation
I'm Canadian and planing on doing the dropship model with shopify and facebook ads. All suppliers want American funds...face book offers the option to pay in either Canadian or American funds. From what I've read Shopify pays in American funds and wires it to your bank account.
I've taken the time to secure an American funds bank account with my Canadian bank. I have also applied for an American funded credit card with my bank.
With the current exchange rate right now at 27% there's a lot of money floating around between the 2 currencies.
Are there anyways to keep my costs down with exchange rates and wire transfers?
Are there anyways to capitalize off of it.
Any ideas or answers are very much appreciated.