Did Chase recently sell their Canadian credit card accounts to Scotiabank? If so, I would assume that there is a transaction foreign exchange fee.The cheapest way to convert CDN to US is with a no foreign transaction fee credit card. All you'll be charged is the spot rate, with no foreign exchange fee. This will also beat exchanging money at the branch, where they embed the foreign transaction fee into the exchange rate they offer, often between 2% to 3%. Chase is the only issuer in Canada that currently does not charge foreign transaction fees on its credit cards.