Posted on: 09-07-12 23:19:59
If I want to send approx. 5K or more US Dollar to someone in USA, is there any option which does not cost me anything ?
I know I can make wire transfer for about $ 10 from Canadian banks.
Any suggestions for no fees transfer ?
I know TD and RBC both have branches in US, I wonder if anyone have used them for international transfer within the bank or to other banks in USA?
Write a check.
-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by JRF
Write a check.
Writing a cheque will require to have a cheque book for the US dollar account in Canada.
No. Have done that CAD account, but the Exchange rate is compromised.
I would talk to the foreign bank and ask them their current exchange rate to decide whether to go that route or not.
Quote:
Originally posted by jigz787
Quote:
Originally posted by JRF
Write a check.
Writing a cheque will require to have a cheque book for the US dollar account in Canada.
-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Here in Canada to clear a US cheque takes a long time, probably close to a month. So if it the same across the border, your contact could be waiting a month before they see the money in their bank account at an uncertain exchange rate.
You cannot send a wire transfer for $10. If you receive a wire transfer, the banks here charge $10. Sending is around $30, check with your bank.
About doing online transfer from your US dollar account opened in Canada, I do not think it is possible. May be ashedfc can throw more light on that. May be he means online transfer from US dollar account opened in US.
-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||
well you can register yourself on xe.com .
you will have to register your canadian account and your beneficiary account in US .
then at your convenience you can transfer money online .
I think you can use uaeexchange.com or .ca also to do the same .
Please do some research how to go about it as rules and procedures keep changing .
OK, my research says if you send demand draft to USA, the only cost you pay is the fees to get the draft from the bank, some banks / accounts offer free demand draft.
If you send US dollar cheque and if the person encash it in USA, you in Canada will be charged 0.25% of the cheque amount by your Canadian bank (TD in my cash).
