Wasn't aware that there is a fees involved to transfer from td us to td Canada !
Moving US dollars to Canada
- Thread starter Jameee
- Start date
No fees for the wire from US TD Bank to TD Canada Trust. The TD Canada Trust account shows charge $17.50 fee, which they reimburse back the next business day.
What I meant was the TD Bank charges high commission for currency exchange compare to others...
Is their anyway to avoid ACH fees charged by TransferWise?
If I send $10000 USD from US account using TransferWise then I will 12,857.15 CAD in my Canada account.
Transfer wise will charge following fees:
14.98 as ACH fees
60.55 as TransferWise Fees
at 1.2955 conversion rate
If I send $10000 USD from US account using TransferWise then I will 12,857.15 CAD in my Canada account.
Transfer wise will charge following fees:
14.98 as ACH fees
60.55 as TransferWise Fees
at 1.2955 conversion rate
I do not think so, at least I've visited a local branch in Windsor and opened both US and CND checking accounts at TD Canada Trust. They looked at my Canadian citizenship card (proof of citizenship) and opened accounts using my US address ( me as US resident) without asking any additional Canadian information, like SIN.
Yes, to me it was a quick round trip from Detroit area, but for TD bank, although I've opened account online, I've finished opening and deposited some funds while visiting my friends on east coast in NH.
fyi, i tried to open an RBC account while in US. I had to fill in a paper application, copies of passport and US DL, both notarized at UPS store and mailed the package to RBC main branch. With this, they opened a deposit only account. After landing, i had to provide CoPR to activate withdrawals etc. May be TD has something similar?
trumprefugee
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I wish I had seen this thread earlier. Ever since I landed almost 3 weeks ago, I have been trying to figure out and get set up with banking and currency exchange. I am now registered with several currency exchange companies and have been tracking their rates for the past 2 weeks. Knightsbridge generally has the best exchange rates, although it was a pain to get registered at first.
I also tried Transferwise and was very disappointed with its high ACH fees that unfortunately are not avoidable if you choose ACH transfer. It is even cheaper just to wire transfer into Transferwise's account. At least Transferwise's account is based in the US, so it was a domestic wire transfer instead of international. I later found that Bank of America advertises only $3 for a 3 day domestic wire transfer, but I don't know how accurate it is. I was quoted a $15 wire transfer fee to wire US dollars into Knightsbridge's US currency account (at a Canadian bank), but I ended up being charged an additional $45 wire transfer fee on top of the $15 that was taken out of the initial transfer! I am very unhappy about this. I will sign up for a US currency account at TD Canada and bring the remainder of my funds into my TD Bank account in the US for transfer into TD Canada, and then Knightsbridge supposedly would be able to take the funds from the US currency account at TD Canada for free.
I have done bunch of small transfers ( 1000-2000) through Transferwise and I am pretty happy with them.
Today only I transferred 2000 USD and I will get 2,619.21 CAD by 19th June into my Canadian account. This is close to 1.31 conversion rate while official conversion rate is 1.32. I am not paying any other fees to US bank or Canadian bank.
Today only I transferred 2000 USD and I will get 2,619.21 CAD by 19th June into my Canadian account. This is close to 1.31 conversion rate while official conversion rate is 1.32. I am not paying any other fees to US bank or Canadian bank.
trumprefugee
Champion Member
- Jun 6, 2017
- 3,186
- Category........
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- Ottawa
- NOC Code......
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- AOR Received.
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- IELTS Request
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- 28-05-2018
Where did your $2000 USD come from? From a US bank account or a US currency account at a Canadian bank? I believe Transferwise does not charge to do ACH transfers from non-US banks, but they charge their exorbitant fee only for ACH transfers from US banks, and if you choose not to do ACH transfer, you have to wire the funds to Transferwise.
US bank, BOFA.
Amount to be paid (fee included): 2,000 USD
Converts to: 2,619.21 CAD
Fee: 15.90 USD
Exchange rate: 1.32010
trumprefugee
Champion Member
- Jun 6, 2017
- 3,186
- Category........
- PNP
- Visa Office......
- Ottawa
- NOC Code......
- 2172
- App. Filed.......
- 06-01-2018
- Nomination.....
- 19-12-2017
- AOR Received.
- 07-01-2018
- IELTS Request
- 24-06-2017
- Med's Done....
- 05-01-2018
- Passport Req..
- 09-03-2018
- VISA ISSUED...
- 02-04-2018
- LANDED..........
- 28-05-2018
Transferwise did a debit from my BOFA account using my debit card.
Transferwise has 4 options: Debit, ACH, Wire Transfer, Credit Card.
Debit and ACH cost same. I think in my today's transfer Debit was $3ish something and Transferwise fees was $12ish something.
Wire transfer is the one where you need to call US bank and ask them to transfer money to transferwise.