Transfer money from USA to Canada
- Thread starter John_S
- Start date
Hi John. I have used a site called XE Money Transfer at https://transfer.xe.com for about 10 years now and can recommend them. You can also contact them on the phone at TOLL-FREE (US AND CANADA): 1-877-932-6640. Not affiliated, just a happy customer. Good luck. Bob
I found a local exchange gave me the best rate. Rates are better than any bank in town and the money is there 1-2 days. You might check the local exchanges in your city.
jes_ON
VIP Member
- Jun 22, 2009
- 1,421
- Category........
- Visa Office......
- New York
- Job Offer........
- Pre-Assessed..
- App. Filed.......
- 06-May-2010
- AOR Received.
- 13-Aug-2010
- File Transfer...
- 01-Mar-2011
- Passport Req..
- 30-Jun-2011
- VISA ISSUED...
- 12-Jul-2011 (received 25-Jul-2011)
- LANDED..........
- 03-Sep-2011
Xe and Transferwise... Xe IS good, but they were better beforethey changed partners last fall. I switched to Transferwise recently, when Xe started putting payments through as wire transfers instead of electronic payments. There are others which may suit your needs better, but some have higher minimum transfer amounts which do not work for me... I transfer smaller amounts once or twice a month (from Canada to the USA).
Set up an American td bank account and a Canadian td canada trust acc, you will be able to make transfer between the 2 of them for free! Also you can move hour money from an American account to another American account using venom, square cash, pop money(in case you need to move your money from let's say chase to TD bank usa) then when you get the money in TD Bank USA you just need to call them up and they will tell you how to transfer it for free to your TD Canada trust acc.
Hello folks, I need some help in understanding the best way to transfer funds from the US to Canada. I checked bank websites (TD,RBC etc) and they have left me a bit confused.
Let's say I choose TD: so I open a TD US account, using which I open a TD Trust Canada account. Can I open both from the US? If yes, then I wire transfer the money and be subject to some transaction fees and the exchange rate. Am I doing well so far?
How does opening a TD US dollar account in Canada help? In this scenario, I have three accounts: a TD US account, a TD Trust Canada account (in CAD), and a TD Trust US dollar account (is it based in Canada?). So I first transfer from the TD US account to the TD Trust US dollar account (this is free of fees and exchange rate?), and then, as and when exchange rates are favorable, keep transferring smaller amounts to the final TD Trust Canada account (in CAD).
Is my understanding correct?
Yes. What you wrote in your last paragraph is Correct. There may or may not be transfer fees from USA account to your Canada US $ account depending on your bank and type of your account.
But there is no exchange rate issue since the transfer is from US $ in USA to US $ in Canada.
My experience is with HSBC. It is pretty good. I have an HSBC account in USA opened as a Canadian resident with a Canadian address. In Canada, I have two HSBC accounts , one CA $ checking and one US $ checking.
With Global view of HSBC, you can view all your world accounts with HSBC on one page and transfer money between your accounts on-line. The transfer is free for me because of the type of account I have with HSBC. For other types of accounts they do charge small fees.
I do online transfers from USA account to US $ account in Canada. For converting US $ to CA $ in Canada , I just call HSBC Canada to get the exchange rate and do the
conversion over the phone ( HSBC offers the best exchange rate of all the Canadian banks).
But there is no exchange rate issue since the transfer is from US $ in USA to US $ in Canada.
My experience is with HSBC. It is pretty good. I have an HSBC account in USA opened as a Canadian resident with a Canadian address. In Canada, I have two HSBC accounts , one CA $ checking and one US $ checking.
With Global view of HSBC, you can view all your world accounts with HSBC on one page and transfer money between your accounts on-line. The transfer is free for me because of the type of account I have with HSBC. For other types of accounts they do charge small fees.
I do online transfers from USA account to US $ account in Canada. For converting US $ to CA $ in Canada , I just call HSBC Canada to get the exchange rate and do the
conversion over the phone ( HSBC offers the best exchange rate of all the Canadian banks).
Last edited:
I was just talking to the TD guys and they said I cannot open an account with TD CanadaTrust unless I go to a local branch in Canada. This after I said I do not have a local address in Canada yet. Even an existing US TD cross-border account is not enough for opening an account on the Canada side. Time to explore some other banks looks like.......e.g. HSBC ....if anyone has a recent experience with opening an account before arrival, please do post your experience...will be handy.....
Hey,
Can I use Transferwise or Xe if I want to transfer from my account in the US to my wife's account in Canada?
Also, is Paypal an option?
DV
Can I use Transferwise or Xe if I want to transfer from my account in the US to my wife's account in Canada?
Also, is Paypal an option?
DV
Hi, I am living in US (not a US citizen) and will be landing in Canada next few weeks. Currently I only have US bank account, I was wondering how I can transfer my fund to Canada (prob. after landing)?
Is it possible to first move and then transfer the money from US to Canada when I am in Canada ? (Likely I cant go back to US due to Visa etc). What is the least risky path?
Best
Is it possible to first move and then transfer the money from US to Canada when I am in Canada ? (Likely I cant go back to US due to Visa etc). What is the least risky path?
Best