Transfer savings from USA to Canada

[ku567]

I moved to Canada as a permanent resident and recently opened a USD savings account to transfer my savings from Bank of America to Scotiabank. I'll use Wise to transfer my money. Can you transfer all the money at once or is it better to do it in batches? The amount is under 100K.

 

[IndianBos]

If you are not in a rush, you can do it in batches when the exchange rate is in your favor. I did it in 5k/15k increments.

I would recommend to convert the currency to CAD using wise, Banks might not give you a favorable exchange rate and there is no point keeping USD here unless you have a specific need.

 

[ku567]

If you are not in a rush, you can do it in batches when the exchange rate is in your favor. I did it in 5k/15k increments.

I would recommend to convert the currency to CAD using wise, Banks might not give you a favorable exchange rate and there is no point keeping USD here unless you have a specific need.

I have opened a USD bank account with Scotiabank and I plan to transfer it in installments with Wise. Would that be okay?

 

[IndianBos]

I have opened a USD bank account with Scotiabank and I plan to transfer it in installments with Wise. Would that be okay?

It's your personal decison. When I moved, I convert UsD to CAD using Wise and transferred to my CAD Account in Canada. I didn't have a use for USD, and didn't want to get stuck with Bank conversion rates.