U.S. dollar Visa card ideal for snowbirds

Snowbirds can spend a lot of time and money calculating and paying for U.S. dollar purchases. The Canadian Imperial Bank of Commerce has announced a new service that should make life even easier for those lucky seniors who spend extended periods of time south of the border.

The bank has launched a new CIBC U.S. Dollar VISA card that allows frequent travellers to the U.S. to save money on currency conversions by making all transactions in U.S. dollars.

`The CIBC U.S. Dollar card is an ideal choice for Canadians who make regular trips or stay for extended periods of time in the U.S., including snowbirds,” said Scott Pehleman, senior vice-president, card products. “They can save on currency conversion and still enjoy the convenience and security of a Visa card.”

The new card offers all statements in U.S. currency, commission-free American Express Travellers Cheques, $100,000 common carrier travel accident insurance, Avis car rental discounts, and free supplementary cards. The fee for the card is $35 annually.

“It’s a great advantage to know that all the charges made in the U.S. are billed on the monthly statement at the same price paid in the U.S.,” said Pehlem. “This saves customers time and money and eliminates the need to make conversions. In addition to avoiding currency conversions, holders never have to worry about fluctuating exchange rates.”