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Cashing Canadian Bank Checks In The US

#1 Teddy B

Teddy B

    On Double Secret Probation



Posted 17 May 2013 - 10:06 AM

Hi All,

 

Wondering if anyone else has experienced this.

 

My wife and I have sent numerous checks drawn off our US account to her family members in Windsor as birthday and Christmas gifts over the last couple years. Everytime the checks are deposited into the recipients account and that persons account is credited the full amount of the check with no banking fees. No problems, everything goes smoothly.

 

This past week, my wife received a check from her Mother as a birthday gift, the first check we've received from Canada on our end. The check is drawn from her Mother's TD Bank Canada account. When I went to deposit it into our US account with our local bank, I was informed of a $7.50 transatction fee and also told that I would have to wait for 6 to 8 weeks for the check to clear and the amount of the check to be adjusted for the US/Canadian dollar exchange. I was also informed that their may be more fees acrued by TD Bank Canada for their processing of the check.

 

I spoke to my bank manager in detail about this and explained the differences between how the Canadian banks have handled our US checks compared to how his bank was handling the Canadian check. I'm not doubting what the local bank manager is telling me, but I'm curious to know if anyone else has run into this situation, and if so, what did they do? Does anyone know of another way of cashing the check without the fees?

 

Thanks


Edited by Teddy B, 17 May 2013 - 10:07 AM.

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#2 RomaSkirsky

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Posted 17 May 2013 - 10:14 AM

To be honest I paid the fees. My last bank charged for any transaction that had a foreign participant. Although 7 USD is a lot more than I ever paid. I've heard most banks do this... the price of the charges vary depending on the bank I assume. I'm not sure of any other places.... sometimes a bank to bank money transfer can be cheaper... I started doing that for awhile because it was HSBC to HSBC, but either way there was still a charge. Hope you get a better answer than mine! Best of luck!


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#3 newlyweds2010

newlyweds2010

    Platinum Member



Posted 17 May 2013 - 10:36 AM

I have no experience with Canadian banks, but it works exactly the same way with Italian banks. You pay a commission to the US bank where you cash the check, and you may also have to pay an additional commission to the foreign bank issuing the check. Fair? Absolutely not, IMHO. But it is what it is.


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#4 Teddy B

Teddy B

    On Double Secret Probation



Posted 17 May 2013 - 10:44 AM

I have no experience with Canadian banks, but it works exactly the same way with Italian banks. You pay a commission to the US bank where you cash the check, and you may also have to pay an additional commission to the foreign bank issuing the check. Fair? Absolutely not, IMHO. But it is what it is.

 

Lol Newlyweds, that's almost word for word what my bank manager told me.

 

I'm curious to know why there has never been a fee charged on the Canadian end, or a US/Canadian dollar exchange, it just seems strange that there woud be a fee in the US but none in Canada.


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#5 newlyweds2010

newlyweds2010

    Platinum Member



Posted 17 May 2013 - 11:02 AM

Lol, I have a future as a bank manager (no thank you!). I assume the Canadian bank does not charge because the account holder in Canada already pays some other periodic fees/commissions which include this service. Do not assume that they are doing this for free, they are not (this is probably also verbatim your bank manager). On the other hand, do not call the Canadian bank to complain as to why they did not withhold a commission: if you do they might, just to make their customer happy...


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#6 Rob & Monika

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Posted 17 May 2013 - 11:21 AM

Do the US checks go through the exchange rate in Canada?  You said they get deposited for the value of the check.  If the USD is worth more, where does the money from the exchange rate go?


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2011-05-21: Matched on eharmony (clearly not in my 60 mile radius preference!)
2011-07-30: Met in Ottawa
2011-08-28: Day I knew I wanted to spend my life with her
2012-01-21: I proposed, outside in the freezing cold!
2012-02-06: Mailed out K-1 via FedEX
2012-02-10: NOA1
2012-08-01: NOA2
2012-08-17: Packet 3 received (email)
2012-09-10: Packet 3 sent
2012-09-12: Packet 4 received (email) with request for 2 photos
2012-10-29: Medical in Toronto
2012-11-06: Interview - Approved!
2013-04-05: POE Thousand Islands
2013-04-20: Wedding

#7 Teddy B

Teddy B

    On Double Secret Probation



Posted 17 May 2013 - 11:34 AM

Do the US checks go through the exchange rate in Canada?  You said they get deposited for the value of the check.  If the USD is worth more, where does the money from the exchange rate go?

 

I am being told that they don't go through the exchange rate, which I thought was strange. I believe that in the last couple years, the Canadian dollar was higher than the US dollar.

 

We're going to Windsor in a week to visit my wife's family, I'm going to get more info on this because somethings not adding up.


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#8 Rob & Monika

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Posted 17 May 2013 - 11:52 AM

The exchange rate has been pretty close to equal, never know which one is worth more on any given day.  Currently at 1USD = 1.03CDN


Edited by Rob & Monika, 17 May 2013 - 11:53 AM.

  • 0
2011-05-21: Matched on eharmony (clearly not in my 60 mile radius preference!)
2011-07-30: Met in Ottawa
2011-08-28: Day I knew I wanted to spend my life with her
2012-01-21: I proposed, outside in the freezing cold!
2012-02-06: Mailed out K-1 via FedEX
2012-02-10: NOA1
2012-08-01: NOA2
2012-08-17: Packet 3 received (email)
2012-09-10: Packet 3 sent
2012-09-12: Packet 4 received (email) with request for 2 photos
2012-10-29: Medical in Toronto
2012-11-06: Interview - Approved!
2013-04-05: POE Thousand Islands
2013-04-20: Wedding

#9 Flames9_RN

Flames9_RN

    Canadian Guy in Ecuador



Posted 17 May 2013 - 12:55 PM

Some can offer a good exchange rate, than hit you with fees. Others my not charge any fee, BUT give a less than stellar rate!  If its for a large sum of $$$, it is best to check around!  I had huge hassles depositing Cdn cheques into Wachovia back in 2005.  1 branch would put a hold on it, some stated they would only accept a Cdn cheque if it was over $200, it was crazy--and it was the same BANK outfit, just a different branch!  Luckily I found a branch that had a good bank manager and a competent teller and would only take my cheques to her--if she was not their, I walked out--because everyone else would screw it up!  Thats when I started using CustomHouse!!  Just mailed my cheques back to my parents and they deposited the $$$ in my bank!  But CH was bough tout by Western Union and I don't think they offer it as a free service anymore, and they exchange rate is not as good as it once was

 

And now 1 has other routes--TD and RBC, but I have never used them, so can't comment.  But when you check the bank of Canada Exchange rate----I don't believe your going to get that rate--the banks are here to make $$$$$


  • 0
Canadians Visiting the USA while undergoing the visa process, my free advice:
1) Always tell the TRUTH. never lie to the POE officer
2) Be confident in ur replies
3) keep ur response short and to the point, don't tell ur life story!!
4) look the POE officer in the eye when speaking to them. They are looking for people lieing and have been trained to find them!
5) Pack light! No job resumes with you
6) Bring ties to Canada (letter from employer when ur expected back at work, lease, etc etc)
7) Always be polite, being rude isn't going to get ya anywhere, and could make things worse!!
8) Have a plan in case u do get denied (be polite) It wont harm ur visa application if ur denied,that is if ur polite and didn't lie! Refer to #1

#10 VeeNDee

VeeNDee

    Gold Member

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Posted 17 May 2013 - 01:37 PM

We had received some cheques as wedding gifts in Canadian funds.  I had read about all the cheque cashing issues and was prepared to engage in a long conversation but surprisingly the local bank just took them all and deposited them without any fees or delays.  As far as I know they just went with the current exchange rate too.  It might have something to do with our account being with a credit union that is non profit but I am not sure. I was very relieved not to have to deal with that hassle!


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VeeNDee

April 23, 2013 - AOS interview - Approved!

May 1, 2013 - Greencard received in mail

 

Between January 23, 2015 and April 23, 2015 - Apply for ROC!

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#11 ricnally

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Posted 17 May 2013 - 03:02 PM

I have experienced difficulties with Canadian checks coming to the US for years--so much so that I just don't do it anymore. My USC fiance has had the same problems even at his Credit Union.


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#12 hikergirl

hikergirl

    Island Girl



Posted 17 May 2013 - 06:05 PM

Is your local bank a TD as well?  If it is try and call the cross-border banking number and see if the fee is a mistake.

 

If it’s not, you could check with the cross-border banking number to see if you can deposit Canadian cheques to the US account without fees and open up an account for the occasion and just use it as some sort of savings account.  

 

http://www.tdcanadat...nking/index.jsp

 


Edited by hikergirl, 17 May 2013 - 06:05 PM.

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VisaJourney - 9 months 5 days
I-30 − 145 days
Sep 11, 2012: Sent in I-130s (CR-1 & CR-2)
Feb 6, 2013: NOA2
NVC - 52 Days
Feb 11, 2013: NVC Received
Apr 25, 2013: CASE COMPLETE!!!
Consulate (Montréal)
May 1, 2013: Received e-mails from NVC with Appointment timings
Jun 19, 2013: Interview - APPROVED!

ELIS/Green Card Production/SSN (Green cards - 29 Days after POE)

Jun 28, 2013: USCIS received fee and is in process

Jul 14, 2013:  POE

Aug 5, 2013:  Went to SSA to apply for SSNs.  Did not come automatically in the mail.

Aug 6, 2013:  ELIS switched to “Optimized - In Process"

Aug 8, 2013:  ELIS changed to “Closed - Card Produced"

Aug 9, 2013:  SSN cards received in mail

Aug 12, 2013:  Green cards received in mail

 

event.png


#13 MsHogan

MsHogan

    No, I do not live in an igloo, eh!



Posted 18 May 2013 - 01:18 PM

Canada is happy to receive American money.

 

America doesn't want anything other than American money.

 

That's my explanation of it.

 

I have, for many MANY years dealt with this on a variety of levels. When I deposit a US cheQUE ( :P ) into my Canadian account I get whatever amount the exchange rate for that day deems it to be worth.

 

Whenever anything Canadian is deposited into a U.S. account it's a huge deal. My husband and I deal with this in our business on a regular basis too. Huge fees. Even traveling to Canada using his Visa Debit card from PNC. HUGE FEES. But my RBC US account, no fees on my Visa Debit card. So you can see which one we use now while traveling to Canada!

 

I would ask your family not to send cheques but to buy U.S. money order or bank draft instead if they're keen on sending you money.

 

It's a pain in the ####### but I don't see how it will change any time soon.


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USCIS - 40 DAYS
2012-10-30: FedEx delivered I-130 to Chicago Lockbox Mail Room
2012-11-01: NOA1 by email - MSC
2012-11-02: $420 (x3) debited from our account
2012-11-05: NOA1 hard copies received, Priority Date 2012-10-30
2012-12-11: NOA2


NVC - 26 DAYS
2013-01-02: Rec'd case#, IIN, BIN & OPTIN emails for EP sent
2013-01-03: Submitted DS-261 (x3)
2013-01-07: AOS bills invoiced and paid & OPTIN for EP accepted for each of us
2013-01-08: AOS bills appear as paid & AOS packages sent by email
2013-01-08: IV bill invoiced & paid (kids' only)
2013-01-09: IV bill appears as paid (kids' only)
2013-01-09: IV Package emailed & DS-260 submitted online (kids only)
2013-01-11: AOS received -notified by email
2013-01-11: IV bill invoiced & paid (for me)
2013-01-14: IV bill appears as paid (for me)
2013-01-14: IV Supporting Docs received for kids - notified by email
2013-01-14: IV Package emailed & DS-260 submitted online (me only)
2013-01-18: IV Supporting Docs received for me - notified by email
2013-01-18: Son#1 CASE COMPLETE - Son#2 checklist - saying $ on I-864 don't match tax return (but they do)-resubmitted
2013-01-23: AOS 2nd submission for Son #2 received - notified by email
2013-01-25: My CASE COMPLETE
2013-01-28: ALL 3 OF OUR CASES ARE NOW COMPLETE
2013-02-06: Packet 4 Received by email


MEDICAL ~ CONSULATE ~ POE
2013-02-13: MEDICALS
2013-03-06: INTERVIEW
2013-03-08: VISAS IN HAND!
2013-03-12: Paid USCIS Immigrant Fee
2013-03-14: POE
2013-03-25: SSNs arrived
2013-04-01: Green Cards arrived


#14 thegordons2009

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Posted 19 May 2013 - 11:36 AM

I was able to deposit a canadian check into my American account without any fees or holds. I had the funds the next day like any other check.

 

I am in the state of PA. The check was from Ontario. Cant remember which bank in Canada. But on my end no issues.


  • 0
2/7/13 mailed I130 x 2
2/14/13 checks cashed $420 x 2
4/3/13 RFE more divorce info requested and marriage certificate(which I had already sent)
4/9/13 mailed additional info
4/19/13 I130 approved
5/10/13 NVC received
5/16/13 Called NVC and got Case #s and Invoice ID #s
5/17/13 USCIS website states: Your case can not be found at this time in My Case Status. Please check your receipt number and try again.
5/24/13 Paid AOS ($88.00) fee online
5/30/13 Emailed I-864 package for both kids
6/3/13 paid IV bill $230 x 2 kids
6/5/13 IV bill shows paid, DS260 available
6/14/13 CHILDREN'S PASSPORTS ARRIVED!!!!
6/14/13 filed online DS-260 for both kids
6/16/13 emailed Supporting docs for DS-260 for both kids
7/9/13 CHECKLIST for both kids...sad.png
7/9/13 checklist response sent (birth certs and passport Bio Page <again>)
8/2/13 CHECKLIST both kids
8/3/13 checklist response sent (I-864 AGAIN and paystubs - sent last 6 paystubs)
8/28/13  ***** INTERVIEW SCHEDULED***** for 10/9/13
9/11/13 Medicals completed in Toronto @ Dr. Seiden's office
10/9/13 INTERVIEW APPROVED
10/25/13. SSN cards arrived

#15 JensJrny2Ray

JensJrny2Ray

    Trapped in a glass case of emotion.



Posted 19 May 2013 - 03:21 PM

When I lived in Canada, my fiance sent me a couple of cheques. My account was/is with Royal Bank and while they did it, they said that I should use some other method as they could hold it etc. I did get exchange rate on it, it was fairly negligible as the exchange rates were similar. Anyway, we stopped doing cheques and used our Paypal accounts and then I would just withdraw the amount to my bank account. We found that to be easy. Instead of a cheque, it might be easier for your relatives to send an international money order or to do the Paypal thing. With Paypal it doesn't cost them anything to send money. 


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****************
July 09, 2012 - Sent in application for I-129f petition for K1 Visa
Dec. 31, 2012 - NOA2
Feb. 23, 2013 - Visa received
March 31, 2013 - POE
April 12, 2013 - Wedding! (41213 prime!)

May 02, 2013 - Sent off AOS, EAD, AP package

May 04, 2013 - Package arrived at Chicago lockbox

May 22, 2013 - Early walk in Biometrics, Alexandria VA

June 03, 2013 - RFE for AOS

June 17, 2013 - RFE response received

July 05, 2013 - EAD and AP approved

July 10, 2013 - EAD card production

 




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