how to cash returned draft in Canadian Dollars

[ash1978]

Hi everyone,
The CIC refunded my application fee for a PR application some time ago. The draft they sent me is in Canadian Dollars and I live in the US. Does anyone have any suggestions about the quickest/cheapest way to cash that draft ? My Wells Fargo banker tells me that they charge US $40 as processing fees and it would take up to 45 days to complete the process. I was wondering if anyone else may have suggestions about other places in the US I could go to for getting this foreign draft cashed.

Thanks

 

[wilson]

As per my knowledge you cannot endorse the draft to any one else and it should be cashed through your account in any bank. Most of the banks are charging huge amount as their service charge. But there should any bank with less charges. Some one may have different suggestion on this matter.

 

[jes_ON]

Hi Ash - that's appalling. What bank is the draft from?

 

[jes_ON]

and what state do you live in?

 

[ash1978]

Thanks for the comments...This is in Nevada, USA. The draft says 'Government of Canada' at the top but I don't remember what bank issued it. I guess I'll have to shell out the $40 to cash it. It's just ridiculous why the CIC won't take the initial processing fee in US Dollars (since they have us send the application form to Buffalo, NY anyway if the pre-processing in Sydney, Nova Scotia is satisfactory). That way the return draft could also be in US Dollars making it less painless.

 

[jes_ON]

I asked about the bank and where you're located because some banks have partner institutions... No RBC in Nevada tho. Wells Fargo appears to be about the worst, both in terms of fees and processing times. If you needed an excuse to change banks ...