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Transfer money from USA to Canada

John_S

Star Member
Apr 24, 2013
68
1
Hi,

I need help in transferring money from US Bank to Canada Bank.
What is the best option/website for Online money transfer from US Bank to Canada Bank?
 

rhgattis

Newbie
Jun 22, 2017
1
0
Hi John. I have used a site called XE Money Transfer at https://transfer.xe.com for about 10 years now and can recommend them. You can also contact them on the phone at TOLL-FREE (US AND CANADA): 1-877-932-6640. Not affiliated, just a happy customer. Good luck. Bob
 

picklee

Hero Member
Feb 19, 2017
726
165
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Hi,

I need help in transferring money from US Bank to Canada Bank.
What is the best option/website for Online money transfer from US Bank to Canada Bank?
I found a local exchange gave me the best rate. Rates are better than any bank in town and the money is there 1-2 days. You might check the local exchanges in your city.
 

jes_ON

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Jun 22, 2009
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Xe and Transferwise... Xe IS good, but they were better beforethey changed partners last fall. I switched to Transferwise recently, when Xe started putting payments through as wire transfers instead of electronic payments. There are others which may suit your needs better, but some have higher minimum transfer amounts which do not work for me... I transfer smaller amounts once or twice a month (from Canada to the USA).
 

davidb57

Star Member
Jun 20, 2016
62
9
Hi,

I need help in transferring money from US Bank to Canada Bank.
What is the best option/website for Online money transfer from US Bank to Canada Bank?
Set up an American td bank account and a Canadian td canada trust acc, you will be able to make transfer between the 2 of them for free! Also you can move hour money from an American account to another American account using venom, square cash, pop money(in case you need to move your money from let's say chase to TD bank usa) then when you get the money in TD Bank USA you just need to call them up and they will tell you how to transfer it for free to your TD Canada trust acc.
 

taco123

Full Member
Apr 9, 2017
46
0
Open a US Dollar account with your bank in Canada. Transfer your USD from US to your USD account in Canada. Convert them
later when the exchange rate is best.
 

francaispourquebec

Star Member
Jun 4, 2013
78
6
Open a US Dollar account with your bank in Canada. Transfer your USD from US to your USD account in Canada. Convert them
later when the exchange rate is best.
Hello folks, I need some help in understanding the best way to transfer funds from the US to Canada. I checked bank websites (TD,RBC etc) and they have left me a bit confused.

Let's say I choose TD: so I open a TD US account, using which I open a TD Trust Canada account. Can I open both from the US? If yes, then I wire transfer the money and be subject to some transaction fees and the exchange rate. Am I doing well so far?

How does opening a TD US dollar account in Canada help? In this scenario, I have three accounts: a TD US account, a TD Trust Canada account (in CAD), and a TD Trust US dollar account (is it based in Canada?). So I first transfer from the TD US account to the TD Trust US dollar account (this is free of fees and exchange rate?), and then, as and when exchange rates are favorable, keep transferring smaller amounts to the final TD Trust Canada account (in CAD).

Is my understanding correct?
 

taco123

Full Member
Apr 9, 2017
46
0
Yes. What you wrote in your last paragraph is Correct. There may or may not be transfer fees from USA account to your Canada US $ account depending on your bank and type of your account.
But there is no exchange rate issue since the transfer is from US $ in USA to US $ in Canada.

My experience is with HSBC. It is pretty good. I have an HSBC account in USA opened as a Canadian resident with a Canadian address. In Canada, I have two HSBC accounts , one CA $ checking and one US $ checking.
With Global view of HSBC, you can view all your world accounts with HSBC on one page and transfer money between your accounts on-line. The transfer is free for me because of the type of account I have with HSBC. For other types of accounts they do charge small fees.

I do online transfers from USA account to US $ account in Canada. For converting US $ to CA $ in Canada , I just call HSBC Canada to get the exchange rate and do the
conversion over the phone ( HSBC offers the best exchange rate of all the Canadian banks).
 
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francaispourquebec

Star Member
Jun 4, 2013
78
6
I was just talking to the TD guys and they said I cannot open an account with TD CanadaTrust unless I go to a local branch in Canada. This after I said I do not have a local address in Canada yet. Even an existing US TD cross-border account is not enough for opening an account on the Canada side. Time to explore some other banks looks like.......e.g. HSBC ....if anyone has a recent experience with opening an account before arrival, please do post your experience...will be handy.....
 

taco123

Full Member
Apr 9, 2017
46
0
If you have an account with HSBC outside Canada, they will open it for you in Canada before arrival.
 

Dark Vader

Full Member
Apr 8, 2017
36
8
Hey,

Can I use Transferwise or Xe if I want to transfer from my account in the US to my wife's account in Canada?

Also, is Paypal an option?

DV
 

rxyz

Star Member
Feb 24, 2017
169
16
Hi, I am living in US (not a US citizen) and will be landing in Canada next few weeks. Currently I only have US bank account, I was wondering how I can transfer my fund to Canada (prob. after landing)?
Is it possible to first move and then transfer the money from US to Canada when I am in Canada ? (Likely I cant go back to US due to Visa etc). What is the least risky path?
Best