Life savings

[sierradrinker]

My wife and I will be moving to Canada hopefully in the next few months. When we move we will want to bring out savings accounts with us.

Can we open a saving account in Canada with American funds without incurring a substantial conversion fee? Will Canadian banks accept a cashier's check drawn on an American bank?

Thanks.

 

[Leon]

Can you not get them to write a cashiers check out to a Canadian bank? When I moved, my bank in old country wrote me a check for their partner bank in Canada.

 

[GK]

Keep your US account and open up a Canadian account. Do a wire transfer or on-line transfer from US bank to Canadian bank. Then close you US account unless you still need it. I have accounts in different countries and this is how I transfer fund back and forth. Fee for each transaction is about $45.