wtf man i bank w/scotia and just put my checks in the machine and they issue a correction in a few days for the exchange difference
no account transfers. that sounds difficult.
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Originally Posted by CDSmith
I think it's crazy.
At my bank (here in Winnipeg, Canada, NOT the usa btw) If I were to take a US funds cheque there and deposit it directly into my regular savings account, it would cost me something like $10 per cheque.
However,
If you register a US funds account, and deposit your US cheques into THAT, it costs you nothing. No fee. Nada. ZIP.
You can then do a funds transfer from your US account to your regular savings account, the system automatically exchanges the currency at the current rate... which again costs nothing.... and voila, your money is in your regular savings account. For free.
I don't know if they do this at all banks here, or if something like that can be done in the banks of other countries, but it's worth it to go and ask at your bank. It saves me several hundred bucks per year on wire fees and other fees.
And that, people, is why I like cheques.
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