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How to transfer money from an American account to a Canadian account
08-02-2012, 02:18 PM
Does anyone here know any way to transfer funds from an American account to a Canadian one? The only option I am hearing is a wire transfer which costs about 35 dollars (in South Florida).
Any other options would be appreciated.
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How to transfer money from an American account to a Canadian account
08-02-2012, 02:38 PM
You can mail someone a check and have them cash it or deposit it into your account.
Someone you trust, family member.
You can upload money to Paypal and then transfer to a different account as well.
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How to transfer money from an American account to a Canadian account
08-04-2012, 08:33 AM
I have transferred money to someone in Canada from US using PayPal. No problems. They receive it in their paypal account, then they transfer it to their personal Canadian account.
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How to transfer money from an American account to a Canadian account
09-01-2012, 01:03 PM
Pretty much what 23Billion said. Don't attempt to perform this kind of transaction through Paypal, especially if you're dealing with a large sum. Not only because you'll likely have fees to pay, but they are notoriously unreliable, and if they decide to freeze your account for whatever reason, you may have to kiss your money goodbye. The horror stories are out there.
I have both USD & CAD accounts at my bank (BMO). I can transfer money from one account to the other very easily in real time with no fee to pay, only the exchange rate. It's a nice little option to have when one currency is doing better than the other.
Check your bank's website, I'm sure they have all the info.
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How to transfer money from an American account to a Canadian account
09-02-2012, 05:52 AM
Moma, you should be able to open an American account with a Canadian bank down there, which could make the process easier. I know that the last time I was in south Florida (Fort Lauderdale, last April), I saw quite a few Toronto Dominion (TD) banks down there.