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Transfer money from USA to Canada


Jan 25, 2018
Mississauga, ON
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.
I know it's an old post, but just wanted to check how do you transfer USD from US bank account(Chase etc) to USD in Canada bank account? I checked with my bank in US, and they said international transfer is not allowed, not even wire. I would like to keep them in USD in Canada


Full Member
Oct 24, 2018
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?

I am caught in a similar situation and trying to figure out the best way out. Would you mind sharing your experience?



Mar 21, 2018
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).
I have a HSBC account in Canada, and a Chase account in the USA, I can probably open a HSBC account in the USA to transfer my USA savings, but I will end up paying the wire transfer fees to send money from my USA chase account to the USA HSBC account right? What's the benefit going this route then?