Posted on: 23-07-12 09:51:44
Quote:
Originally posted by jigz787
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).
For draft you have to also pay conversion charges to USD, which you have not mentioned. Also you have to incur costs of mailing the draft. Of course, something with tracking would be ideal.
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yes, you are right. In my case, I will be handing over in person, and I have USD account, but the conversion charge is always there anyways.
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