Greetings,

I want to know whether I can deposit a US check (not a cashier's or traveller's check, but a regular personal check) in a USD account in a Canadian bank.
Is there usually a problem in clearing the check?
Do the banks charge any fees for this?

Thanks.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

I have USD account witn Scotiabank. The check is usually clears without any problem. It might take 10 business days to clear the check.

If the amount is more than 10,000 I think they have a procedure to fill-up a declaration form about the money and purpose. This started after 9/11.

They don't charge anything for this.

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A Proud Indian Canadian

Can I use the US drawn check to open a account for the first time, or can I use it only after I already have an account with the bank?

Thanks again.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

You can open an account with 0 money. These are savings account, power checking accounts, money master accoutings etc., but you have to check the terms before choosing any.

You can open USD accout at the same time you open CD$ account, which you need to, in any case.

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A Proud Indian Canadian

is there any credit union like here in US. which dont charge for checking a/c nor the service charges for checks we issue nor no limit on # of checks we can issue per month. ??

Quote:

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Orginally posted by Garvo Gujarati


You can open an account with 0 money. These are savings account, power checking accounts, money master accoutings etc., but you have to check the terms before choosing any.

You can open USD accout at the same time you open CD$ account, which you need to, in any case.

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I found Presidential Choice a good bank. They don't have any bank location, just banking machines, kiosks in Lablows and online.

They don't charge anything. Not even for checks. I haven't done any transactions with that bank yet, but it seems attactive.


Anybody has real expericence with them?

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A Proud Indian Canadian

Quote:

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Orginally posted by Garvo Gujarati


I found Presidential Choice a good bank. They don't have any bank location, just banking machines, kiosks in Lablows and online.

They don't charge anything. Not even for checks. I haven't done any transactions with that bank yet, but it seems attactive.


Anybody has real expericence with them?

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada