Question about Streamate payment and exchange rates?

[Tia_Rae]

Hey all! This is my first post, I'm new to webcamming.

My first week of being on streamate I worked a few hours and made a little money. I'm Canadian and I received my first check in the mail yesterday. I went to cash it today and the teller saw that the check came from the US, and switched it to Canadian currency. I ended up making an extra 30 dollar profit on the original check amount.

My question is, was this correct of her to do? I was thinking that the check was already in Canadian currency, but I guess I was wrong?

I am happy I made an extra 30 dollars, however I wouldn't be so happy if the Canadian dollar was down and I ended up making less than my statement on the check, since I want to be able to reach my daily goals and whatnot.

Any other Canadians out there or just anyone who can let me know what's up with Streamate and exchange rates?

Thanks!

 

[KayleePond]

Yep, that's correct!

Such is the world of doing business from a company based in another country! :thumbleft:

 

[Jesse0328]

Right now the exchange rate is about $1 USD = $1.21 CAD. The Canadian Dollar has been trending weaker compared to the US dollar. If the US economy keeps improving and the Federal Reserve increases interest rates, you may see your home currency weaken further since higher interest rates attracts investors and increases demand for US currency.

If you ever want to keep an eye on exchange rates, http://www.xe.com is what I always use.

I'm curious: What did your bank charge for a foreign exchange fee, if any?

 

[Tia_Rae]

Thanks, Kaylee.

Jesse, the exchange rate fee was 1.1710000, I think lol. That's what it said on the receipt.

 

[ACFFAN69]

Not to mention OPEC promising to continue to pump out oil so cheaply has damaged the economy in Alberta. Extracting oil from sand costs too much to adequately compete with the low price.

See the pattern? Price of oil sharply declines, not long after the Canadian dollar shoots up. Oil prices increase, and you see a slight increase in the dollar. I highly doubt we will see Canada's dollar increasing in the near future. You definitely don't have to worry about it overtaking the US dollar tea_r, so always expect quite a bit extra when cashing that check.

It sucks for Canadian cam members though. Even at the best package I have (7575 Tokens for $599.99) I'm still paying almost $1 per 10 tokens (7575 costs $730.40 currently). Back in March it was slightly more then $1 per 10.

 

[Tia_Rae]

That's some good information ACFFAN69