Which is the better way to transfer US funds to Canadian bank?

[luvcanada]

I am little confuse that when I read thread in this forum that it complicated to transfer US funds to Canadian banks by depositing personal checks in Canadian banks so does this mean Canadian banks donot honour US banks account number & routing rumbers from the personal checks?

Which is best and more secure, reliable method to transfer funds from US to Canada? Pls. provide me name of the banks can issue secure method of transferring funds?

Thank you,

 

[PMM]

Hi

I am little confuse that when I read thread in this forum that it complicated to transfer US funds to Canadian banks by depositing personal checks in Canadian banks so does this mean Canadian banks donot honour US banks account number & routing rumbers from the personal checks?

Which is best and more secure, reliable method to transfer funds from US to Canada? Pls. provide me name of the banks can issue secure method of transferring funds?

Thank you,

No, they honour them but they usually put a hold on the money for about 30 days until the cheque clears. You could obtain an international money order and deposit it, would clear much faster.

PMM

 

[luvcanada]

Thank you so much PMM, how about cashier's check, demand draft, IMO, bank draft and traveler's check? Which one is faster to deposit and less commission charged from issuing bank?

 

[PMM]

Hi

Thank you so much PMM, how about cashier's check, demand draft, IMO, bank draft and traveler's check? Which one is faster to deposit and less commission charged from issuing bank?

Traveller's cheque since it would be treated like cash.

PMM

 

[Tara_W]

I often transfer money from my Irish bank account to my Canadian account.

Best way to avoid unnecessary charges is to set up two Paypal accounts with two seperate email addresses I use www.paypal.ie and www.paypal.ca. The first Paypal account is linked to my Irish credit card and Irish bank account, while the second is linked to a Canadian credit card and my Canadian bank account. Not using credit cards at all, I make payments from my Irish Paypal account (drawing from the bank account) to the Canadian Paypal account, and once it clears within a few days, I withdraw the money from Paypal down the bank account.

Works great and quick enough too.

T.

 

[luvcanada]

Thanks Tara_W, I do have US paypal account so I have to create a paypal.ca account once we have confirmed canadian bank & local address, right? Thanks once again, it is much simple and don't have to carry monetary instrument.

I often transfer money from my Irish bank account to my Canadian account.

Best way to avoid unnecessary charges is to set up two Paypal accounts with two seperate email addresses I use www.paypal.ie and www.paypal.ca. The first Paypal account is linked to my Irish credit card and Irish bank account, while the second is linked to a Canadian credit card and my Canadian bank account. Not using credit cards at all, I make payments from my Irish Paypal account (drawing from the bank account) to the Canadian Paypal account, and once it clears within a few days, I withdraw the money from Paypal down the bank account.

Works great and quick enough too.

T.