Quote:
Originally Posted by sadiedazzle
It's simple to move money. You write a US check from your US bank account in the USA (under $10,000 - over this raises red flags) to your USD account in Canada and then exchange it to CDN $$'s. Wiring money costs too much $$$ and takes too long.
|
The only concern there is the bank clearing it without a hold - Though I supposed the larger amounts being moved would be coming out of the US and into Canada so it would be up to our Canadian bank in terms of holding periods, but we have private banking so I can't imagine there would be an issue there. Any checks written to the US bank account is where we might have that bank wanting to put a hold on it but I think it would be rare we moved more than a couple hundred dollars a month into that account from Canada. Another foreseeable issue could be how to deposit a check into the US account without physically going to that bank - Do they have photo check deposits in the major American banks?