Transferring money to american account

[Carmen123]

Hi people, i will soon be moving to US under TN. I need to transfer some money I have (in cash) to my american account. What is the best (quick and least expensive) way to do it?

Thanks

 

[bigboy00]

Hi people, i will soon be moving to US under TN. I need to transfer some money I have (in cash) to my american account. What is the best (quick and least expensive) way to do it?

Thanks

Convert your cdn money to US$ while you are in Canada and deposit into your US$ account (in Canada). Then write a check to yourself and deposit it in your US bank account once you have a american $ account.

 

[nelsona]

Or, even without having to open a US$ account in canada, have your Cdn bank issue you a bank draft in USD and deposit in US bank.

they will freeze it for a time, but this will be a better rate, and a shorter freezem that if you hand them a Cdn check

Then, set yourself up on customhouse.com for easy,cheap transfers.

 

[kwirky]

Some US bank ( Chase ) charges 100$ for each foreign check deposit over 5000$.

 

[simsd]

Do what nelsona says. Absolutely DO NOT bring any type of Canadian currency to the US. Make all of your exchanges in Canada. Even though the CDN dollar is at par or more with the U$, the banks here will stick it to you big time. I went to deposit a $ 3,800.00 CDN cheque last month in my regular Bank of America account and they wanted to charge me over $ 200.00. I sent the cheque back to Canada, and had them convert it to U$. The banks here don't recognize anything but U$. They don't care or want to hear the song and dance routine about the CDN dollar being worth the same or more as the U$ etc, etc.

 

[Bill_S]

Another vote for what nelson and simsd have said. Canadian banks are very accustomed to dealing with US$. They will readily issue you a draft in US currency. That is what you take to a US bank. Unless you are in a border community like Buffalo, most US bank employees will throw roadblocks at you if you want to deal in Canadian $. ("We can't"... "There's a fee"... "We need approval from main branch"... "I don't know how to deposit Canadian $"... etc.). Been there, done that.

 

[kimberlily]

My husband and I use xetrade.com. It is pretty cheap, has fair exchange rates, and the bank doesn't charge us a penny since it is transfered directly.